Updated: May 1, 2022
Is the culture within your family business one of fractionation? Are the employees talking among themselves feeling like they have no support and trust is gone? Trust is the opportunity for employees to be open and honest, and leaders being vulnerable and strong enough to hear the truth from their employees. Getting to the core of the issues that affect the culture of your company as quickly as possible will prevent declines in revenue. Employees also have to be comfortable sharing the questions and trust you will do something about them.
If you are doing 360 interviews for you and your leadership team, you must immediately follow up when the results are released that you heard their feedback and you are working on the changes to create a better working environment for your employees. The CEO seat is the hottest seat in the house. If you do nothing or delay a response, you’ve sent the message, you don’t care. You will get less from your employees and revenue will drop. Don’t let your emotions get the best of you. Step away, reframe the situations, and make sure you are solving the right problem. Don't let the feelings of the case create friendships that will sabotage your strategies and roles within the company. You don’t need to know who said what, but you do have to take action. Feedback is a gift!