Building Corporate Reputation Through Employee Empowerment“The way to gain a good reputation is to endeavor to be what you desire to appear.”– Socrates A reputation is something you build. Which means that all companies have choice about how they want to be seen, and that’s pretty empowering. When your team sits down and talks about the kind of company you… Read More |
Employee Retention: How Your Budgeting Process Can Help You Engage (And Keep) Your EmployeesReplacing lost talent is a challenge…to say the least. It costs employers and managers an extraordinary amount of time, resources, and energy when an employee jumps ship. We’re talking lost productivity, overworked remaining staff, lower overall morale, and lost knowledge – plus recruiting, interviewing, and training costs. According to Hay Group senior principal Mark Royal,… Read More |
Budgeting as an employee engagement strategy?Budgeting as an employee engagement strategy? Yes, it sounds ridiculous. Who looks forward to budgeting? For most of us the answer is: “Not me, not ever.” So how can budgeting (a process that is as dreaded as a dentist appointment or tax season) actually improve employee engagement? At the core – it’s about having your… Read More |
When the Employee Suggestion Box Meets Budgeting…Remember the employee suggestion box? There might still be some relics mounted on a wall somewhere with a stack of paper and pencils nearby. Can you imagine being the person responsible for translating all of those anonymous, one-to-two sentence thoughts into actionable organizational improvements? Today of course, technology is lending a hand. A quick search… Read More |
How Organizational Culture Impacts Financial Planning & PerformanceThere’s a phenomenon that occurs as organizations grow. To facilitate expansion and support rapid growth, they create dedicated departments. But over time, the creation of these dedicated teams can eventually have a negative impact on growth – affecting communication, reducing transparency, and shifting allegiances. In a nutshell, it changes the culture. And the culture impacts… Read More |
The Benefits of Budgeting as a TeamThe benefits of embracing a team approach to budgeting are extensive. Successful multi-participant budgeting leads to increases in innovation, accuracy, engagement, and more. Rather than finance teams wasting time trying to track down spreadsheets and fix broken formulas, they can focus on analyzing the data and making strategic decisions about the organizations most valuable resources…. Read More |
Why Collaborative Budgeting is important during WFH/hybrid workWhether you refer to it as “decentralized”, “distributed”, or “collaborative”, engaging multiple participants in the budgeting process can be a challenge, especially during today’s WFH/hybrid environment. Department heads are often not experienced in mainstream business practices like budgeting, forecasting and management reporting. Yet, engaging these individuals and gaining their expertise and insight during the budgeting… Read More |
Budgeting: Critical Part of the Strategic Planning ProcessRather than view budgeting as an annual exercise, CFOs should fully integrate it into the strategic planning process. Doing so will help “close the loop” between planning and execution, as well increase engagement, ownership and even productivity of your staff. Here are 5 benefits that will be gained by incorporating budgeting into the strategic plan,… Read More |
