With corporations often having offices in different countries, it is difficult to keep everyone updated on new industry trends as they are happening. Major changes can happen on a daily basis, changes that can make or break your position in the industry, it is essential that all employees are updated regularly on these industry changes. Time zones differ, one country's office may get advance knowledge of an upcoming trend, while in another office a continent away, someone may get wind of a change that will influence the whole industry. Keeping everyone informed of every update becomes a challenge.
Imagine these two conversations
One hundred years ago:
- James: "Hey, Ed, did you hear Charley and Ralph are merging their businesses into one major hardware store?
- Ed: "Yes, I did. They have been talking about it for ages; it's about time they acted on it."
- James: "Ed, I just heard that XY Corporation and ZM Industries were talking a merger."
- Ed: "You are just hearing that? They discussed it months ago and a deal fell through."
- James: "Where was I? Sometimes I feel I never know what's going on in this industry."
What do you need to know?
Knowing what is going on with others in your industry is essential in order to make the correct decisions, know what direction the market is heading and being able to stay one step ahead of competitors. Lack of communication of this knowledge is happening on a company-wide basis in most corporations because there is rarely a uniform way for this information to be gathered and then passed along. It does no good for Joe, the maintenance man, to overhear a vital piece of information about an upcoming competitor and pass it onto Greta, the secretary, if it goes no further.
"We have regular staff meetings and a suggestion box." Those are fine for small businesses where everyone gets a chance to talk on a daily, or at least weekly, basis, but for businesses with hundreds of employees, this isn't enough. In addition, emails can get lost, memos get lost or tossed unread and people inevitably get forgotten. When you are talking hundreds of employees across multiple national borders, it gets even worse.
Adding to this, employees who do pass on vital information and never hear of it again or feel it isn't taken seriously, will hesitate before passing on more information. They feel unheard and lost among the masses. Eventually, the competition starts pulling ahead and everyone starts wondering why.
Centralize the information in a digital magazine
There is a simple solution to this lack of consistent, company-wide communication - a digital magazine.
Advantages of keeping all employees on-the-same-page
Having a system in place that gathers all the information possible both within the company and within the competition is a start. Next, being able to collate that information and have it directed to the various departments impacted gets it closer to having a benefit. Finally, taking all the information and gathering it into a timely, even daily, digital magazine that can be read by each and every employee, regardless of department or location, keeps everyone knowledgeable about all that is going on within the corporation. A digital magazine also avoids cluttering up inboxes with unstructured industry news.
People are able to adjust their work to fit with any changes, brainstorm ideas that keep you ahead of the competition, basically feel like a vital part of all that is going on around him or her. Knowing that information will be shared and will be considered and possibly acted upon will make employees more willing to share any information they come across outside of work.
A digital magazine that covers industry-wide developments will begin to make employees feel better connected to each other. When this connection happens, there is more communication and more cooperation and the competition stays with your competitors, not between individual employees. In the end, you see the competition a distance from you; but this time they are behind you, not ahead. All this as a result of a digital magazine.
You can choose to have a public digital magazine for customers and a private digital magazine that can only be viewed by your employees.
Would you like to talk about the possibilities in your industry? Contact us and we'll set up a digital meeting.