A growing business needs to empower its employees to make decisions. It is not productive to limit decision making to managers. Mike Michalowicz, the author of Profit First, believes there are three components to empowerment: profit, culture and client satisfaction.
- Companies are in business to make a profit. An employee who has developed good decision-making tools will be able to keep an eye on profitability.
- Culture represents who we are. A decision must transcend money and properly reflect the essence of an organization. The decision must fit within the company’s culture.
- Clients are the underpinning of a company. There is no profitability or culture without a satisfied client
The fear that an employee will make a mistake often prevents the transfer of power. Mistakes can actually be the building blocks for an employee’s success. Learning from mistakes results in greater confidence and better decision-making. Providing positive feedback will help an employee learn how to make decisions that benefit profit, culture, and clients.
At Austin & Williams, we strive to create a culture that encourages and empowers employees to make decisions with team-building and training opportunities. What do you do to empower your employees?
