Enhancing performance in small professional firms through vision communication and sharing

Despite evidence of a positive relationship, vision’s effects on performance are not fully understood, particularly in small professional service settings. This study advances prior research using a multi‐stakeholder, multi‐measure approach. It reports a positive relationship between vision‐communication and ‐sharing on performance in Australian retail pharmacies using five measures–financial assessments, employee and customer satisfaction, productivity, and staff retention. Organizations whose managers communicate the vision to staff and whose employees share this vision outperform their peers across all business indicators and retain their employees longer. Financial performance and productivity were higher with long‐term staff and managers.