The very thought of sharing your financials with your employees seems ludicrous doesn't it? Why are you, the business owner, more engaged in your business more so than your employees? You know the rules, you make the decisions and you watch the numbers. Imagine therefore if you can make your employees think like a business owner (part of the Team) as opposed to being spectators on the sidelines.
There's a surprisingly simple way to do this: share your business's financial information with your employees. If you make the economics of your business come alive, people begin to pay attention to what's working and what isn't. Provide your employees with plenty of context about financial goals, and you may find they spot opportunities you may not have noticed already. Another possible spin off is that adopting this sort of employee interaction may help to tie incentive compensation to financial improvement, so that employees see a payoff as well.
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