The success of any business depends on the ability to make important decisions quickly and effectively. Companies must ensure that all employees are onboard with the decision-making process, as their buy-in is essential for creating a strong culture, fostering growth and achieving long-term goals. As an investor in numerous businesses over the years, I’ve seen firsthand how easy it can be to overlook this vital aspect of running a successful organization – but doing so puts your enterprise at considerable risk. In this blog post, I’ll explain why you should strive for employee buy-in when making important business decisions, outlining key strategies for gaining support from across your team and throughout your organization.
HR is taking an increasingly influential role in strategic business decisions – a fact supported by survey results from Raconteur. In particular, 49% of senior executives view HR as one of the top five decision-making functions ahead of marketing, technology, legal and procurement departments. These developments should encourage investors to take note that companies are recognizing the importance of leveraging Human Resources for better outcomes.
Investment decisions are strongly influenced by the insights of HR, with over two-thirds (68%) rating it amongst their top five decision makers. This is echoed by more than half (54%) of marketing executives too. Working in tandem, financial and human resource teams align regularly – 64% meet weekly while 57% of sales and 49% operations also join this collaboration loop to make informed investments at scale.
HR is a key player in the purchasing process of services and products, with an impressive percentage of HR leaders taking part in decision-making. This demonstrates their importance to businesses looking for successful investments that yield substantial returns!
HR professionals are far more than just people managers–they demonstrate decisive impact on the success of many business operations. From ERP to sales technologies, from martech to data storage and processing, HR pros have their fingers in a lot of pies: 73%, 81% ,97%, 79% and 72 % respectively! When it comes to driving performance through tech investments, they’ve got your back.
People-driven businesses are now leading the charge when it comes to key decisions about software and technology investments. HR’s focus on creating employee buy-in is helping companies understand that cost isn’t making all of the calls – understanding how important decisions will impact employees does as well. With this insight, businesses have a rose to bloom for greater success in their decision-making processes.