How much time should your stakeholders get?

When you’re trying to get things done at work, do you follow this rule?

The squeaky wheel gets the most oil

In other words, do those in your working world who are loudest and most demanding get most of your time, energy and attention?

You may not like to admit it, but the answer is probably “yes”, at least some of the time. We’re wired to pay attention to immediate demands – and what feel like immediate demands.

When you stop and think about it, though, it’s obvious that you will have important stakeholders who you may be missing in favour of people who are taking up your bandwidth unnecessarily.

The power/interest stakeholder grid* can really help you clarify who gets your time and to what extent:

Diagram of High Power Low Interest High Interest Low Power

In relation to a particular initiative, or to your career in general, a stakeholder is anyone with influence over, or who may be influenced by, the outcome.

When you map your stakeholders to the grid, you may realise you’ve been lavishing time and attention on stakeholders who are in the bottom right quadrant, because you’ve mistaken their interest for power.

That doesn’t mean you ignore people who aren’t powerful in relation to a particular decision or initiative – apply this with respect. Interested people will want to be kept informed, and that’s fair. Respect that – and also respect your own needs to manage your time and energy in a way that allows you to be effective, not to mention happy and healthy.

Consider:

  • Who do you really need to be consulting and negotiating with as/before you make decisions?

  • Who can be kept informed along the way? How often?

  • What do your high power/low interest stakeholders need to be kept happy?

  • How will you monitor the low interest/low power stakeholders?

If you use this grid, let me know how it goes!

*The grid was developed by Edward Freeman in his book on stakeholder theory, Freeman, R. E. 1984. Strategic Management: A Stakeholder Approach.

Until next week,
Take care of yourself and others

Madeleine

PS. If you’re dealing with a complex set of stakeholders and could do with a sounding board as you work it through, let me know. Send me a message to enquire, and please share with anyone you think may benefit.

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Madeleine Shaw