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    • Action plan

    Sharing company financial information with employees

    Medium effort

    Medium impact

    Knowing how to communicate the financial situation (and how honest to be) is a common challenge for SME leaders. As a business owner, you need to decide what information to communicate, the format, the language to use and how to pick the right time.

    • We’ve designed our action plans to be completed in the order of steps laid out and explained why each step is important
    • Customising your action plan lets you set your own completion dates, assign tasks to others and get notifications
    • Helpful tools are provided for certain steps while a tracking metric at the end will help you determine the long-term success of your effort
    • A downloadable PDF version of each action plan is available if you’d like to compete it offline
    What's involved? Ways to use this action plan Measuring impact
    1

    Do your research by speaking to other leaders in your network and asking about what has worked for them and what hasn’t

    Impact: medium

    Why will this help?

    Reaching out to other business leaders is a good starting point to explore tricky topics, like what information to share and how much detail to provide.

    Sharing financial performance with staff can lead to greater efficiency

    Being open about financial reporting and using incentives tied to performance will help to build staff interest in business turnover and profit.
    2

    Set the metrics by listing each piece of financial information you’re happy to share and then giving each one a rating according to how useful it is to employees

    Impact: high

    Why will this help?

    This process helps to streamline the information into a manageable list of figures that you’re comfortable to communicate.

    3

    Include information that illustrates how employees’ work impacts the company finances

    Impact: medium

    Why will this help?

    Demonstrating how employees affect the bottom line actively involves people in the finances and gives greater meaning to their goals and targets.

    4

    Add financial communication to your internal comms strategy

    Impact: medium

    Why will this help?

    Documenting your commitment to keeping employees updated about the company’s finances sends a clear message to staff. It also helps to shape the language and tone that’s appropriate for communicating this kind of information.

    5

    Share your document of financial information with employees

    Impact: high

    Why will this help?

    Collate the information you’ve chosen to share in a financial one-pager that you send out on a monthly or quarterly basis, so everyone knows when to expect it.

    Sharing financial information with employees

    Sharing your company's financials allows employees to see how their work makes an impact. Our template will get you started.

    What can I do with this Action Plan?

    Start this Action Plan

    Add some extra information to this plan and we’ll help you get it done.

    • We’ve designed our action plans to be completed in the order of steps laid out and explained why each step is important
    • Customising your action plan lets you set your own completion dates, assign tasks to others and get notifications
    • Helpful tools are provided for certain steps while a tracking metric at the end will help you determine the long-term success of your effort
    • A downloadable PDF version of each action plan is available if you’d like to compete it offline

    Download and print

    Get a printable template for this Action Plan, fill it in with some target dates, and share it with your team. Pin it on the wall where everyone can see it.

    Get the printable Action Plan

    Learning Groups

    We also run Learning Groups on these topics where you can join other leaders tackling the same challenges.

    Find a Learning Group

    How will I know if my action plan is working?

    Staff satisfaction survey results

    Staff satisfaction surveys help gauge sentiment at regular intervals

    Why this metric?

    Whether gathered anonymously or not, staff satisfaction surveys help gauge the sentiment of your people as changes are made and impacts felt.

    How do I start tracking?

    Use an online survey to get feedback from members of staff three and six months after making changes to see what impact it has had.