+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Does your small business still use a suggestion box for employee feedback? If so, it’s time to upgrade to a better system.
Your business needs to continually progress and that will come through finding new profit-producing and cost-saving initiatives. A great way to develop these is to harvest ideas from your employees. Unfortunately, your employees are not likely to give good profit-producing and cost-saving ideas if they’re contributing ideas in an anonymous box and aren’t benefiting from, or getting credit for, their suggestions. Instead, encourage your employees to find profit-producing opportunities and then go online and submit the proposal to their supervisor electronically. This will provide a time-stamped document showing who was the first to come up with that great idea. Of course, providing some sort of incentive or reward is always certain to get the gears turning and producing quality ideas.
Obviously not all ideas are good ones. The most frequent complaint by upper management regarding employee profit suggestions is that few are very feasible in terms of net financial benefit.
Therefore it will be important to encourage your employees to look at the feasibility of their profit proposal to make sure it will have a reasonably short pay-back time—and an adequate return on investment.
More or Less
Salt Lake City
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.