The Prize of Participative Working
Given these four factors, contemporary organizations are employing the power of democracy to create smarter approaches to decision making. That leads to very powerful and tangible business benefits, including:
- Highest levels of engagement from their workforce, which is consistently proven to drive profitability.
- Attract the very best talent, including from Gen Y (more on this in Chapter Three: Progressive People).
- Increased collaboration, leading to greater innovation and less over-dependence on a few ‘knowledge hoarders’.
- Improved ability to adapt internally more quickly in an unpredictable and highly adaptive environment.
- Improved ability to communicate effectively at the new speed of business, which is closer ...