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100 WAYS: #16 Reward Your Employees for Bright Ideas
– April 28, 2010
The best source of advice on how to survive this bad economy may be right under your nose. It is your own workforce. Your employees know where the bottlenecks are in your organization and they probably have some very interesting ideas for trimming costs, building sales and improving products or services.
Suggestion boxes usually don’t work, but here is a really effective way to secure input from employees. It is called the 5-5-5-5 Program and requires each employee to put in writing the following:
- 5 ideas to improve the company
- 5 ideas to improve their department
- 5 ideas to improve their own role within the department
- 5 ideas to improve customer service
Make this program mandatory for all employees and if any good ideas are implemented, be sure that a reward is in order.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is a Senior Auditor in our Shreveport office. He received his Bachelor of Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Prior to returning to his hometown of Shreveport and joining Heard, McElroy & Vestal, Walker worked for KPMG in Jackson and Memphis, and more recently as a financial reporting advisor for FedEx Corporate.
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