Login
ISCOVER
Building a sustainable business is at the forefront of many a broker’s list of priorities, and understandably so. In the midst of a fast-changing industry, staying ahead of the curve is essential if you want to stay relevant in the marketplace and identify that much needed value add for customers.
But while it’s often strategy and product offering which business leaders pinpoint as the building blocks to success, there’s an important internal differentiator which often falls by the wayside – and that’s staff engagement.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Having a great plan in place is important, but without implementation that’s all it is – a plan. When it comes to executing it and bringing the vision to life, it’s the people that work with you who actually make this happen.
So how do you go about engaging your staff to the extent necessary to drive your business forward? For me, there are some key elements which can make the difference:
1. Drive a common purpose and positive culture
Your staff should be the best advocates for your business, so make sure you have the right people in your team. By this I mean people who understand and support your organisation’s purpose, and uphold your cultural values.
Your cultural values are also your springboard to action and advancement. I don’t really need to look at sales numbers for confirmation that my team is doing well; I know based on their behaviour and their activities whether they are making progress and achieving success.
Passion and enthusiasm are contagious, so if you have staff who truly believe in what your business stands for, and are committed to providing an exceptional service to your customers, then it’s going to filter through to other members of staff as well as your customers.
2. Make the strategy personal for everyone
To get staff buy-in, you need everyone to clearly understand the strategy. So no matter what size your business is, I believe every broker or planner should have their own strategy and roadmaps to clearly articulate what it means for the individual.
If we look at it in terms of a ‘hub-and-spoke’ model, the overall business strategy sits at the hub of the business. But, to bring it to life, you need all the individuals – the ‘spokes’ – to be executing the strategy as well. Everyone needs to be clear on the role they play and understand how their work makes a difference.
You also need to set up a framework which allows this to happen. For example, there is no point in encouraging staff to take more accountability if every decision they make still requires a three-step sign-off process. Most people, if they understand their role and its impact on the strategy, want to make their contribution. So it’s about making it easy for them to do so.
3. Allow people to develop
Finally, one of the most important parts of engaging your staff is giving them the time, space and encouragement to learn more and do more. This doesn’t have to mean going on courses all the time. Instead, consider ways in which people can learn on the job.
Maybe this includes being mentored or being exposed to an area in which they have no experience, shadowing someone or taking on particular tasks. Or maybe it means mentoring someone else so they’re developing coaching skills.
Ensure people are exposed to professional development opportunities by integrating them into what they do every day. This way they are also building a sustainable career, as well as contributing to building a sustainable business.
