When a team is in the process of promoting a new employee engagement initiative, there can be a lot of excitement and planning going into adopting a new campaign or technology. Everyone wants to make the best decisions in terms of marketing, pricing, and development.
While every aspect of the business’s strategy is important, the budget set forth at the very beginning can play a huge role in the overall success of any Communications or HR project. When you are trying to get an innovation off the ground, a sufficient budget is essential.
So just how do you go about getting the right budget when you are trying to promote a new employee engagement initiative?
Create a Pitch
To help your finance team believe in your initiative, you must believe in it yourself first. After all, if you are not confident that the innovation is worth the money and risk, why should they? When forming this pitch, there are important considerations to keep in mind such as, who your target audience is, how your presentation style and tone should be, how to engage the audience, and how much you should rehearse the pitch in order to execute it the way you plan.
When seeking a budget for a new employee engagement initiative, balance is key. The focus on the pitch, and on the initiative, should be about 50% human resources, and 50% internal communications. This balance can be difficult if you do not understand the differences between HR and IC. While HR is typically focused exclusively on employees, IC is more likely to consider customer satisfaction. An effective employee engagement initiative will have a balance of benefits for both.
Tapping into a Wellness Budget
If the company does not have enough wiggle room in their overall budget to design a new budget around your initiative, then seek financial support where you can. In most cases, an employee engagement initiative can benefit a variety of areas in the company, and therefore, you may be able to find the necessary funds by tapping into these resources. A wellness budget would be a good place to start. Many companies are dedicated to the overall wellness of their employees, and they are willing to set aside a substantial budget to promote this wellness. By promoting the wellness benefits that your innovation has to offer, you might have an effective case to utilize funds from the wellness budget to implement the plan.
Make it Relevant
Every company is different, and different environments have different needs. Employee engagement needs can look different from company to company.
Be sure your innovation plans are tied to the uniqueness of your company, and that you capture this relevancy when seeking a budget.
For many, the budget can be the biggest roadblock for any innovation. If you are seeking funds for a new employee engagement initiative, consider implementing these steps in the process.
Looking to adopt a new employee engagement initiative inside of your organization? Download a step-by-step guide on the important questions to ask all of your internal stakeholder: