Four years ago, Ocean Breeze Awnings and More in Surfside Beach, S.C., hit the $1 million gross revenue mark for the first time. CEO David Powers wanted to find out which neighborhoods were spending the most money with the company, so he studied his data. “Once I delved into it, I realized all the things I could do with the information,” Powers says. Thus was born the company's internal annual report.
The report shows raw data, job locations, number of jobs, and percentage of total gross revenues by types of jobs. There's a balance sheet with all of the spending categories, a section with photos of employees' favorite jobs of the year, and a section on improvements for the upcoming year. “It's sort of like a high school yearbook,” says Powers, who feels that the report is a form of open-book management.
It's also a way for employees to see what other employees do. “A lot of time there's animosity between the administration and field staff,” Powers says. “Admin thinks the field staff are a bunch of rednecks, and the guys who work outside think admin people don't do anything. I wanted to show everyone how they each contribute to the company's success.”
Each year Powers shares the report in a PowerPoint presentation at a party with employees and their spouses. “It's a real morale booster,” he says.