Accounting reports record the financial performance (Profit/Loss) and standing (Balance Sheet) of the company. They provide information to those interested in the financial score of the company and are used, if designed properly, to serve the interests of various audiences.
In order to effectively address the questions of each audience you need to understand their information needs. You are, in fact, constructing a message targeted to the unique information needs of the audience. What is important to someone in operations is different from an investor, creditor or tax collector.
I find many businesses have adequate information in their accounting system but it may not be organized properly to be an effective report card of the business. Information is most likely consolidated and difficult to associate with key operations and lines of accountability in the company, products or other material events. To further complicate the effectiveness of the information it the timelines of the reporting due to . . .
We regularly hear business leaders declare that their most important asset is their employees. For various reasons actions to develop and maximize the potential of this asset are poorly implemented and fall at the bottom of the priority list. This article delves in to some of the reasons why this occurs and what the benefits are if properly addressed.
There are four audit areas that Karen Klein suggests you examine:
- Why is development planning frequently ignored?
- We tend to focus most on the here and now.
- Some bureaucratic exercises are done but not acted upon.
- There’s just no time for it.
- Why development planning makes good business sense?
- People care if you take a genuine interest in their future.
- It helps builds loyalty, and loyalty increases productivity.
- Good talented people naturally want to advance, and appreciate meaningful support in the process.
Development plans do not have to be elaborate and a lot can be gained if managers take an interest in their employees and guide them in their career development.
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Note: Ask yourself the following questions.
- Do I meet with my reports regularly to discuss their personal & professional development goals?
- Do I have an effective set of resources to use for employee development?
- Do I project a genuine interest in the future objectives of those that report to me?
If you are looking for guidance on employee development contact Mike to learn about the Executive Coaching services available from Brice Consulting for you and your organization.
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