Some of his managers were looking to band together in a formal way to make themselves heard
Early one morning, my smart friend discovered that some of his managers were looking to band together in a formal way to make themselves heard with the goal of getting some percentage raise. After realizing that his team was not exactly outside his door with pitchforks and torches, he recovered from his hurt feelings enough to see the issues – and immediately decided two things. First, he challenged himself to talk more with the managers so in the future he could discern the pulse of his organization.
He also saw from their viewpoint that these are very tough times. They actually deserve raises and new equipment. But given the company's current financial conditions, they want the impossible. Why is it then, that only a few people in his company know this? He decided that his organization needed to become smarter.
One way to accomplish this is to have everyone learn more about money. I like the book, Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean, by Karen Berman, Joseph V. Knight, John Case. It is an easy read that can help your team make informed decisions about the business based on a better understanding of financial reports.
We are gathered here to make money: What your employees don’t know is a problem to you, and worse, it is likely that they mistakenly think finance stuff is for the finance people in the organization. Information about how some financial decisions are made, shared appropriately, is a must.
