Even in our personal lives, we often shy away from talking about money, so it’s no surprise that raising the topic of finances in the workplace can be met with the same unenthusiastic response. However, getting staff engaged in the financial situation of your business has many long-term benefits that you shouldn’t ignore.
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Talking about finances with staff
Talking about finances with staff
There are many benefits of sharing financial information with staff, but how should you go about it, and what should you avoid? Business News Daily has some helpful advice.
Helping employees understand finance
Helping employees understand finance
Understanding our personal finances can be hard enough, so imagine the confusion around business finances for the majority of your staff. These easy strategies from Great Game will help you explain finances clearly.
How other businesses have tackled something similar
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Sharing financial performance with staff can lead to greater efficiency
Galvanising staff around company performance can be a game-changer. Being open about financial reporting and using incentives tied to performance will help to build staff interest in business turnover and profit.Real business story
Be honest and keep it simple when communicating financial performance to staff
Communicating financial information with non-finance staff can be a daunting prospect. But done correctly, it can build trust, inspire innovation, drive efficiency and boost sales.Real business story