Real quick — if you asked your colleagues sitting next to you (virtually or not) “What’s our company’s business strategy?” How many, including you, would be able to answer successfully, without trepidation?
The Value of a Known Company Strategy
As it turns out, according to INXPO, a company that helps businesses communicate better with their customers, employees, partners and prospects, 75% of employees don't know a company’s business strategy. In an infographic, they examine the elements that go into creating a successfully defined and communicated business strategy and the value it can bring.
Social business adoption is expected to increase to 57% by the year 2017. Companies will need to better incorporate social business processes into how they communicate, engage and interact with employees if they want to innovate more, grow more and be more successful overall.
If you noticed, the ten steps listed above include many references to people and process, further emphasizing the significance of the employee experience. Your social business strategy will be only as good as how well engaged and connected your employees feel to the company.
As we've discussed before, most employees want to feel useful. If a majority of employees don't know your overall business strategy, chances are you need to revisit how you engage and communicate with employees.