The head of a new business unit or start-up would always need the involvement of the company’s employees in the decision-making process. It helps to add more sustainable value to the company’s operations and drives its growth, even in a tough, competitive market.
What is a decision-making process?
A company’s decision-making process is a combination of designing new strategies and assessing existing ones. It involves keeping in mind the objective of strengthening its prospects in the industry.
Who is usually involved in decision-making?
The company’s owner, senior managers, heads of departments, etc., are essential stakeholders in the decision-making process. Their inputs are very valuable as they speak from experience and expertise. It is important to include personnel in charge of setting up and implementing effective strategies for the company so that they have context when they perform their duties.
What are the objectives of decision-making?
Decision-making involves framing company policies in various aspects of running the business. The objective can be about investing in new technologies, recruiting new talent, streamlining operations, or even buying a group health insurance The legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy for the company’s employees. Everything is covered under decision-making.
Involving employees in the decision-making process
In recent times, small businesses and start-ups have started focusing on their employees in decision-making. Research studies reveal that when employees of a company are seriously involved in making business policies, the company remarkably benefits, especially in the long run.
Feeling valued by the team
Even if a new business has a small number of employees, it is crucial to get them involved. The employees feel they are valued in the company. It is a way to utilise their critical areas of competency.
An employee, in such a case, is convinced that the company thinks of her/him as a significant contributor to the plans and policies. It results in a sharp rise in the efforts the employee puts to enhance the company’s prospects. The company benefits from such a strategy.
The employees become more decisive, confidently
A greater degree of involvement in company matters leads to an increase in the level of confidence of the concerned employees. They can take better decisions in the workplace. It helps the company to grow and become more competitive.
On the other hand, when there is no involvement, the employees’ confidence can take a beating. As a result, there is stagnancy, and the growth rate tends to dip. It is a loss to the company.
A greater sense of responsibility
It is a fact that the employees of a small business feel a greater sense of responsibility when the management involves them in different aspects of the decision-making process. It consists in proposing a business pitch, approaching a client, taking steps for employee benefits and recruitment procedures, etc. They feel that they should deliver more for the company.
They do not leave any stones unturned in putting effort and working hard rigorously. Also, they spend more time thinking about ways to improve the functioning of the business. The employees become aware that they shoulder a greater responsibility to move the company forward at each step.
More focus on the future in a productive way
The employees complain less about their current job status once they are seriously involved in decision-making. In most cases, they worry less about the everyday situations at the workplace and don’t take part in office politics. Their focus remains on creating better policies with active participation.
It is a great strategy to ask opinions from the employees, as the company can understand their capacity and creative skills. Some employees may have hidden potential to show the company a path of accelerated growth. It is suitable for the company in the long run.
The motivation remains high
There is no doubt that the employees’ morale remains high once the company regularly involves them participating in the machinery of decision-making. They always feel motivated to show their ability that benefits the company. They are genuinely concerned about the progress of the company.
When the morale of the employees is high, it becomes easier for the management to introduce more robust growth plans. Workers are more enthusiastic about putting in the effort. The management becomes more confident about discussing various strategies with the employees from practical perspectives.
Freeing the manager’s time
The manager or a senior executive gets more free time to focus on other aspects of running the business when the company’s employees concentrate on some cases of decision-making. It is an effective way to ensure a better growth rate favouring the company. The result is a sharp rise in the competitiveness of the company.
For example, the employees can suggest ways to improve customer interaction. The manager does not have to think about the issue and focus on other essential sides of the business. The manager can spend more time refining the overall process.
Involving employees in buying group health insurance
An excellent way of involving employees in decision-making is letting them opine on matters of purchasing group health insurance. It is in their interests. So, they certainly have a say in determining the right The legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy. The management can discuss the different sides of the decision with the employees. On the other hand, the employees can tell their views on this matter.
As a person heading the HR department of your company, you can also take some of the employees in your team while discuss the features of the insurance products offered by a renowned broker, such as PlanCover.