Management Training Tips:
Confident Employees Are Committed Employees
According to a February 2009 survey by Adecco, 54% of the respondents would have chosen a different career path knowing what they know today.
How many of your employees are included in that figure? Do you know?
How about this: The vast majority of workers (90%) say their confidence in their company's financial management team has been negatively impacted as a result of the current economic situation.
How has your employees' confidence in you been impacted by the current economy?
Help Your Employees Love What They Do!
What is financial management doing to ensure your employees are excited to be on-board and doing what you need them to do? What are you doing to build employee confidence in you?
Here's some suggestions:
- Communicate - employees routinely state in opinion and survey that they don't get clear, frequent, and consistent communication from financial management. One method of improving communication is to remember the 4R's of communication: Communicate the Right Information to the Right People at the Right Time in the Right Manner, and when in doubt, communicate something.
- Inquire - many times communication becomes a one-way street of financial management telling employees. At a minimum, balance telling with asking at least 50:50; better yet do more inquiry and listening, than telling and talking.
- Appreciate - often times financial management mistakenly believes that rewards must be large and/or monetary to be meaningful to employees. Employees consistently express that even small gestures of appreciation are valued -- in fact, the more immediate and sincere the gesture is, the more meaningful it is regardless of the monetary value. Saying 'thank you' or 'I appreciate your efforts' is very effective.
Conference Board senior economist Gad Levanon said in relation to this that now is a good time to "coach financial management on the importance of being appreciative."
When you look at the stress workers are under, it's the small signal that means the most-saying thank you, keeping your doors open, openly communicating about the performance of the financial management on a regular basis, being responsive to people's personal issues. It's a huge thing, but small actions like that go a long, long way to keeping engagement and productivity high, even if you're doing other kinds of cost reductions.
Does It Matter?
Consider the impact of these two facts:
- Uncertainty (more than one-half of HR professionals are trying to calm fears) + Desire (more than one-half of people would choose a different career) = Change
People are now being put in the position of really thinking through what they do, where they do it, and for whom they do it. If you don't stay on the top of their list, they will move to another opportunity when the opportunity arises. Are you ready for that?
Your financial management leadership is required in the strategy of the business; it's needed in the marketplace. But, please realize that your leadership on communication and connecting with your employees is essential right now. You future depends on it.
When unusual circumstances hit your business, you may not have all the answers. Employees may want financial management to tell them what's being done, how it's being done, when it will deliver results, and most importantly how it will impact them. You may not have those answers; thinking you can't talk with employees or feeling uncertain of how you will respond to their questions may cause you to back off from communications.
Financial management needs to do exactly the opposite - get out with your employees, ask what they're thinking and feeling, ask for their ideas and input. Financial management as figure-heads or ego-maniacs may give you plans for the future, but they will not buy the loyalty and commitment of your people.
Scott Nielson:
http://nielsenadvisors.com/hfm/
Subject: Financial Management
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