Do you have a business plan that showcases the potential of your company’s future to your staff? If not, an internal business plan should be on the horizon. Although the myth that employees work harder when they fear that their job is on the line thrives among certain circles, the truth is actually the opposite. You may wonder what that has to do with an internal business plan. The answer is everything.
What people often forget is that employees are people. They have feelings and concerns. One of the biggest concerns, especially in an economic downturn, is how secure their employment is. By preparing, and sharing, an internal business plan that lays out your plans for the future, you can put the minds of your employees at rest. Employees that have less stress are more productive employees.
By sharing information regarding new projects, expansion plans or new sources of revenue, you can demonstrate to your workforce that you are moving forward as a team. Even when you lay bare the areas of your business that are anywhere from problematic to downright ugly, this is the perfect time to ask for input from your employees. You can get feedback on what they see as being the source of a problem or what can be done better. Employees will often amaze you when you give them the chance and sometimes they have the answers to your problems.
Just because an internal business plan is predominately used in one manner does not mean that it always has to be that way. Be flexible! Maximize all of your resources, which includes your business plans, and use it as an opportunity for team building and overall improvement.