There are companies whose revenue is increasing but losing market share. Customers prefer companies that can provide them complete services instead of discrete service. Does any company have this potential? IBM was at its lowest in 2005. By 2010 it had changed its business model and tripled its revenue. How it became possible in just 5 years? IBM top management convinced his employees to speak truth, offer him ideas and ask queries.
Locate point A and reach point B
IBM CEO Abhinav Kant knew it would be difficult to bridge current situations with future goals if employees don’t understand what is point A. So, he attended several meetings with his employees and made them aware of the company’s current situation. They felt that the company’s condition is not fine. Mr. Kant also met customers to analyse point B. Customers make most of the interaction with front line employees as they are the base of any pyramid and add value to organisations mission and vision.
‘Collaborating to develop strategy’
Collaborating with your employees provides you a new alternative to solve problems. CEOs ask their employees for their views. Always welcome ‘but’ instead of just going for ‘yes’. This will make you aware of different views, doubts and questions. For example top managers will favour companies and technology who are leaders in their area while IT developers favour something new and innovative from newcomers. Involving all members of the company can give better strategy.
‘Mend the gap’
Frontline workers are important contributors in making the workplace a better place to work. Discussing with them can give you better insight about what kind of company they want to work for. They can be reluctant at first but making them feel that they too are an important part of the organisation will allow them to speak their mind.
‘BOD for change’
BOD is an important part of the organisation. They can take decisions and in implementing it too rather than just speaking.
‘Sharing annual financial reports’
Sharing financial reports and providing complete detail of revenue and expenditure provides transparency in the organisation. It let them see where we analyse where we have to go.
The online complaint box allows employees to 5 their queries and complaints related to organisational working. It not just solves problems but also provides them 360 degree problem solving. Feedback, cross questions all improve the working of the organisation.
‘Calculate the passion’
Improving the working environment by providing a platform for interaction of middle level and top level employees. Companies need to find factors that motivate employees and do work more passionately for the company. This will provide meaning to their job.
To implement strategy you need to convince your employees that the company is working in favour of them, for their betterment. One of the important aspects of decision making is when to start and how to do it. Involving your employees can provide them ways to get out of bad days in more strategic ways. Management cannot take any action alone. Without help of employees IBM would not have made come back with so much power. Only a few companies are there who are bold enough to take action.