In today’s market, it is extremely important that a business takes advantage of all their assets.

In most companies, the greatest asset is the brain power of its employee population. With the slower economy and the increased competition, it is vitally important to capitalize on the opportunities that lurk in the minds of your employees. The following are comments and observations from retreats we have facilitated for our clients over the years.

A retreat can be a way to capture those opportunities and create the momentum to make them a reality. It can be the idea from the front line that provides you with your unique differentiator. Many minds and the ability to share thoughts can develop into real innovation for a company. Involving the whole company or department in the brainstorming can create consensus and motivation to power the business through this recession and past its competitors.

Being a part of the retreat gives everyone the message that communication is open and welcomed by positions of management. It also can lead to a better understanding as to why things need to be done a certain way. Daily routine can hold better meaning to the person who has been exposed to the decisions that have lead to that routine.

When preparing for a retreat, you should always set an agenda and have specific objectives or outcomes. Company retreats can address a variety of topics. They can include building mission statements or developing new processes for efficiency. They can address customer service issues and marketing plans.

Again, it might not be the salesperson who comes up with the best marketing idea, it could be the receptionist. He or she may have a different perspective to help the company see where there is untapped opportunity.

The most successful retreats take place off site. At the very least, you should close the office for the day to eliminate any distractions. The less interruptions; the more everyone will focus. Being off site can also level the playing field and give everyone the freedom to speak and participate. When you are in the bosses’ location or office, it is hard not to see them as the authoritative figure. It needs to be an environment where everyone is comfortable.

Facilitators are often used for various reasons in conducting a retreat. They can provide control when a discussion goes off topic. It is much easier for them to cut the topic and refocus the group, rather than the boss. A good facilitator can work the group so everyone participates and is engaged in the discussions. However, a facilitator will cost money and if cost is a factor, a facilitator is not required. It is more important to go through with the retreat than to eliminate it because the facilitator costs too much. If you elect to go without the facilitator, it is vitally important for upper management to refrain from over participation or voicing opinions on certain ideas. Once one person feels disrespected, others will be reluctant to participate.

The power of consensus can be seen immediately. A few years back a topic at our annual retreat was the future of our profession’s technology. Once we had shown the employees what was available, they were ready to implement the changes immediately. Our intentions were to introduce the technology that we would be progressing toward over the next few years. However, our employees thought differently and pushed for earlier implementation! It was great to see what could be accomplished with everyone on board.

Even with the momentum created by the best company retreat, it is imperative that there be a followup program. There should be action items and individuals assigned to accomplish each item. It is important to the participants that they see changes happening. No one wants to feel like the time was wasted.

The retreat should be an annual event. Take a portion of the retreat to re-visit last year’s ideas. Determine what is still applicable and what needs to be dropped. The plan may need to be re-aligned with current circumstances or it may need new life from new employees.

Once everyone sees the progress from prior retreats, the enthusiasm builds and more great ideas are hatched. Again, you never know where the opportunities lurk in your company’s number one asset; its employees.

Sue Benedict is shareholder of Fitchitt, Benedict & Clark PS Inc., Auburn. They are a full-service accounting and business consulting firm offering traditional tax and accounting services along with business valuations, estate planning and sales or acquisition of a business.