So maybe you’ve gotten through the “fear of sharing company information” that we covered in Part 1, but now it’s time to execute.
You may not be sure where to start but remember that you’re doing this because you believe that:
A more informed team…
is a more connected team…
which creates trust in the company and the team…
and leads to deeper engagement from all.
Here’s a simple guide to help you reap the benefits when you improve the quality and quantity of information you’re sharing within your company.
Below is an example of a simple matrix that one of AVL’s client companies uses to help them stay focused on reporting information to their entire team on a set frequency.
You’ll see that every week, there’s a weekly asynchronous update sent out. We’ve seen companies do this via video, Slack, and email. Each employee consumes it on their own time. Some companies ‘track’ to see how well it’s being consumed as an indirect feedback gauge. The weekly update is focused on a small number of activity-based metrics that are aligned with weekly-level activities. It’s the organizational scorecard!
On a monthly basis, there’s different update with a larger focus on the company’s monthly results – specifically focusing on operational and financial metrics. These can be sales results compared to plan, quality goals, and other monthly cadence key performance indicators (KPIs).
Finally, the company has a quarterly ‘all-hands’ meeting that is attended in person (or via video conference). This meeting has a much more strategic focus in that it focuses on the BIG THINGS that the organization is aiming at to improve and grow. In an EOS run company, this might be a review of the performance against the last quarter’s rocks and a deep dive explanation of the why behind the next quarter’s rocks.
These are simple but powerful ways increasing transparency with your teams around finances can have a positive impact on your business.
