Financial Permissions Create Frictionless Problem Solving
Do your employees know how much they can spend without your permission?
By creating clear guidelines, problems can be solved without interrupting customer service. For example, if you are gone and an employee is involved with a customer who is seeking a refund or discount, the employee is better able to solve the problem if they know how much money they are authorized to use without having to check with you.
This empowers the employee to solve a problem without fear of repercussions. Also, this latitude can often create a better customer service experience for the client if they don’t have to “talk to your boss”.
Different financial levels can be determined for different levels of employees and/or circumstances.
For example, my team has a threshold of $100.00 they can use to solve a problem and not have to check with me. However, when I go on vacation, that threshold increases to $500.00, allowing for a variety of things that may happen while I am gone (maybe I forgot to buy printer ink…) and increases the chance that my vacation is uninterrupted. It also decreases the team’s stress when they know they have the authority to solve problems and I appreciate it when they do.