Even though 83% of bosses claim they started the year with a business plan, a third of employees believe that wasn’t the case.
As part of an ongoing 14-year workplace study, Leadership Management Australasia (LMA) found 100% of non-managerial employees surveyed who didn’t know or didn’t believe there was a plan felt it was important to have one.
“In these uncertain economic times, failing to plan is in effect planning to fail,” Andrew Henderson, CEO of LMA, said.
Of the leaders and managers who reported to have a plan in place at the beginning of this year, 70% believed it was communicated very well (18%) or quite well (52%) to their employees.
Nine in 10 were also very confident (29%) or quite confident (60%) the plan will support the achievement of the organisation’s overall objectives and priorities.
However, only 79% of employees felt the same way, with another 87% understanding their role in helping the business fulfil the plan well.
“The plan starts with leaders clearly identifying the vision and plan, clearly communicating the goals, direction and vision and then having the confidence in themselves as well as gaining the confidence of their people to execute the plan,” Henderson said.
“Leaders have to ‘walk the talk’ with their plans.”