The annual report you have when you don’t have an annual report

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With the end of the financial year just around the corner, it’s time to be thinking about your annual report. This post is the final in a series of four outlining a few issues that need to be considered when preparing your business report.

Most companies produce an annual report because they have to – their shareholders and the government demand it. But, even if you don’t have a governance reporting requirement, it is still a good idea to produce an annual report, or review. Why? Well, firstly, it’s a great way to keep all your staff, clients, suppliers and other stakeholders up-to-date with your company. It’s better than a corporate profile because it can remain current each year, while a profile needs to be pretty generic. And the best thing is that because it is not a legislative requirement, you don’t include all that dull-but-worthy financial information. It can be a purely marketing document. What’s more, it doesn’t have to be a huge document, a four-page A4 will suffice – if you choose your words and images wisely. So what should you include and how should it be structured?

Start with the wins

Signed a big new contract? Won a national award? Created new jobs? Grew your annual revenue? This is the information that should go up front, in a highlights section. And don’t forget to credit your staff members – your most valuable stakeholder.

Let business units shine

Structure the report by business unit and allow each line manager to crow about their achievements. This is true even if a “business unit” is really just one person (perhaps in HR or marketing).

Employment conditions

If you are using your review to attract high calibre staff or partners, you need to look like an employer of choice. So make sure you talk about policies that cover such things as flexible working hours, dispute resolution, occupational health and safety and industrial relations, training and development, and so on. And if you are in a high-risk industry, it’s important to cover such things as lost- time injuries.

Money talks

While you don’t have to record your entire profit and loss statement, it is worthwhile noting your turnover – especially if it is significantly larger than the previous year. This shows potential clients and investors that you mean business and that you are not about to go out of business

Credentials

This is a good thing with which to wind up the review. It’s where you mention major clients and projects, skills and experience of the company of a whole and individual staff, and any large assets (plant and machinery, buildings etc etc). And don’t forget to include your company structure.Think of it as a mini “capability statement” as it gives the reader an idea of the size and scope of your organisation.

The final word

Your annual review needs to look and feel professional. Please, don’t get your administrative assistant to put it together in Publisher and then send it to the colour printer. It really is worth investing in professional design and print (and writing/editing, of course!). It needn’t cost a lot – and you only do it once a year. So there you have in – four posts dedicated to annual report writing. I hope that have made your life easier as we move from one financial year to another and annual reports fall due. Till next time Nicole