Gaining Valuable Insight into Your Company

As business owners, we constantly strive to have a clear vision for company growth. But have you considered the value of understanding how your staff feels within your business? What if your employees fail to comprehend or follow your business direction and foresight? Implementing a 360-degree feedback system, where both you as the employer and your staff provide input in a combined report, can greatly support your vision and the expansion of your business.

In today’s world, many businesses face challenges related to staff shortages and skill levels. When employees leave, recruiting new talent becomes more difficult, impacting not only you but also the remaining staff members and the overall business. While change can be positive, it’s crucial to view gathering staff feedback as a valuable way to improve your business, even if the feedback isn’t always what you want to hear.

The rising cost of living for individuals has significantly affected small businesses, forcing them to increase the prices of their products and services to meet everyday challenges. Inflation has brought uncertainty, leaving business owners and their staff facing significant challenges in the next six to twelve months. In order to survive, business owners must establish new goals and objectives at the start of this financial year to pave the way forward. Whether your company already has a plan in place or not, it is vital to understand how your staff feels about working for your business in order to minimise disruptions.

One of the key challenges faced by many companies is effectively managing their staff. This involves achieving high staff satisfaction, promoting strong individual and group performance, reducing staff turnover, and minimising workplace conflicts. When you have highly satisfied, high-performing, and long-serving staff working in a harmonious environment, it naturally leads to improved company outcomes such as increased customer satisfaction, enhanced brand recognition, and a positive reputation.

Conducting an Employer and Staff Satisfaction Survey should be viewed as a positive initiative, demonstrating your care for your employees and your desire to discover ways to advance your company while ensuring that your company strategy is understood and that your staff is actively contributing to the company culture. Your staff spends approximately 30% of their lives working for you, following your leadership and directions to produce outcomes for your business. Gathering feedback helps confirm that you maintain a great workplace and that your staff is committed to doing meaningful work.

A comprehensive Employer and Staff Survey/engagement survey provides valuable insights into your staff’s perception of what is important in your business. You need this feedback to make informed decisions that meet your staff’s needs and to communicate your feelings effectively. It also helps identify areas of high risk and management priority.

At Key Business Advisors, we conduct Employer and Staff Surveys that assist you in linking strategy to action in the following areas:

• Organisational Measurement & Planning
• HR Processes and Systems
• Governance and Compliance
• Performance Management and Coaching
• Workforce Improvement
• Strategic Fulfillment
• Linking Actions to Strategy
• Staff Performance and Culture

When combined with a Staff Survey, the insights confirm the following:

• How staff perceive you as an employer.
• Whether they understand the direction of your company.
• The feedback and constructive comments they provide, are invaluable.
• The necessary improvements you can make from their perspective.

It is recommended to conduct such surveys through a third party to ensure anonymity and obtain truthful responses. Involving a third party to deliver the feedback shows that you care about your staff and are committed to improvement.

Receiving a detailed independent report and benchmarking it against other like-minded businesses offers numerous benefits, including:

• An action plan and priorities to elevate your business from good to great
• Evaluating performance levels across the entire organisation.
• Assessing the degree of strategy fulfilment.
• Measuring the level of team satisfaction.
• Identifying actions and processes to retain employees.
• Gathering feedback on how staff feel about your business.
• Receiving recommendations for improvement and solutions for current issues
• Developing a 360-degree Improvement Plan for the next 3, 6, and 12 months

Everything indicates that the next 6 to 12 months will be challenging, and business owners will face unprecedented tests. Our advice is to be proactive and prepared for any outcome while maintaining determination and resilience because you have a clear understanding of what is happening within your business.

At KBA, we firmly believe that running a successful business requires strategic alignment across all departments, with every team working together seamlessly. While strategic intent is crucial, it is equally important to address strategic drift when things don’t go according to plan and the focus shifts to reactive decision-making. Continuous learning and experimentation are essential for reshaping the landscape of your company. Staff retention is key to business growth, particularly with long-term employees who possess valuable intellectual property (IP) regarding how your business operates.

If you need assistance with business strategy, sales improvement, enhancing team culture, or require HR advice and support to get your company back on track, engage Key Business Advisors. We are committed to questioning, motivating, and driving the necessary outcomes to set a pathway forward for your business, enabling it to not only sustain but also thrive during challenging times.

For more information about our Employer & Staff Satisfaction Survey, click here:

To learn more about our company and download our FREE resources to help your company grow and reach new heights, please visit the following links:

• Key Business Advisors: keyba.com.au
• KBA People & Culture: https://keyba.com.au/people-culture-business/
• KBA Strategic Planning Workshop: https://keyba.com.au/hr-advice-support/
• KBA Business Strategy & Growth: https://keyba.com.au/business-advice-strategy-and-growth/
• KBA Professional Sales Training: https://keyba.com.au/professional-sales-training/

At KBA, we are a passionate team dedicated to taking businesses from good to great. If you need assistance with conducting a cultural survey for your business, don’t hesitate to contact us today! To learn more about our services or to seek help, reach out to Key Business Advisors at 1300 4 ADVICE.