Do you ever wonder why some leaders effortlessly engage their stakeholders while others struggle just to keep the lights on?
You’re not alone.
I’ve spent over 20 years in the shared services industry, and let me tell you, engaging stakeholders isn’t just a nice-to-have—it’s a must-have.
Let’s break this down. Stakeholders are not just people with a paycheck attached to them. They’re your partners in success, your sounding boards, your critics, and sometimes, they can seem like a giant wall you need to climb over.
Understanding Stakeholders: Who are They Really?
Every stakeholder has their own set of interests, motivations, and expectations.
- Internal stakeholders: These include team members, management, and anyone within your organization who has a vested interest in your GBS operations.
- External stakeholders: Clients, suppliers, investors, and sometimes, even the community. They can impact your service delivery.
The way you interact with each of these groups can either build bridges or create barriers.
Why Engagement Matters in GBS
If you think stakeholder engagement is just about sending out emails and scheduling meetings, think again.
Here’s the kicker:
75% of projects fail due to poor stakeholder engagement. Not because of lack of resources or bad tech, but because we forgot to involve the right people in the conversation.
When stakeholders feel heard and valued, they’re more likely to collaborate. Collaboration leads to innovation. Innovation drives success. It’s a cycle that feeds on itself, and leaders have to kick it off.
How to Empower Stakeholder Engagement in GBS
Now, let’s get into the meat of it. Here are some tips to empower your engagement game:
- Listen, Then Act: Set up regular feedback loops. Whether it’s surveys, informal chats, or town hall meetings, get their input. Don’t just listen to respond, listen to understand.
- Personalize Communication: One size doesn’t fit all. Tailor your messages based on the audience. For some, a quick email works; for others, a deeper discussion is necessary.
- Be Transparent: Share both wins and losses. It’s about creating trust. When stakeholders see that you’re genuine and upfront, they’ll be more likely to stay engaged.
- Empower Your Team: Encourage your team to engage with stakeholders. Give them the tools and training they need. This not only lightens your load but allows for varied insights.
- Regular Check-ins: Don’t wait for quarterly reviews. Regular check-ins can re-energize focus and keep communication flowing.
Stories from the Trenches
Imagine this: a major service overhaul was about to take place in a large organization. The leadership team was focused on the numbers, the efficiency rates, and the budget. They had everything they thought they needed…except for stakeholder buy-in.
It was a rocky road.
When the changes finally rolled out, teams were left floundering because they didn’t feel included or informed. It cost the company not just financially but in morale.
Lessons learned? Engage early, engage often.
This is a Marathon, Not a Sprint
Empowering leaders to boost stakeholder engagement is a continuous journey, not a destination.
Here’s what that looks like:
- Understand that feedback loops will change over time.
- Refine your approach as you learn about what works and what doesn’t.
- Be patient with yourself and your team. Progress takes time.
What You Can Do Right Now
Take a minute to think about your current stakeholder engagement strategy.
Is it working? If not, don’t worry—start small.
Here’s a quick checklist:
- Identify key stakeholders.
- Set up one-on-one meetings.
- Create a feedback survey and share it broadly.
Transforming Your Approach
The world of GBS is always evolving. The need to adapt and engage stakeholders is crucial to remain relevant.
Look beyond traditional methods. Consider focusing on digital platforms for aspect engagement.
Tools like collaborative software can significantly enhance communication, making it easier for everyone to stay aligned.
The Bottom Line: Your Leadership Matters
Leadership isn’t solely about telling people what to do; it’s about inspiring them to do it.
When you actively engage stakeholders, you empower not just the team but the entire organization.
It’s an investment that pays dividends.
So, if you haven’t yet, head over to the THEGBSEDGE blog for more insights on empowerment, strategy, and leadership in the shared services space. You won’t regret it.
Keep pushing forward, keep engaging, and watch how things evolve.
