Friday, April 25, 2014

Home News Open the books

Open the books

Design/Installation

Showing the numbers isn’t always a disaster.

| March 28, 2013

Want your people to understand the cost of doing business – and to start really working for the team? Then open your books and show them what it costs to operate the company.

Transparency goes a long way toward building a cohesive team. That’s what Eileen Michaels discovered at her firm, A Yard & A Half Landscaping in Waltham, Mass.

“I wanted our employees to know that in our industry, we are not making huge amounts of profit and ‘using them,’ basically,” Michaels says. “So, I thought, let’s put it all out on the table – and it’s amazing when you do that. It’s very eye-opening for people.”

At least once each year, the staff gathers for a financial debriefing and forum for sharing ideas. Michaels breaks out the white board and employees “yell out things that they could be better.” This feedback forms a bucket list for improvement at A Yard & A Half – and the team process builds buy-in.

“It becomes part of our culture,” Michaels says of the open-book, open door philosophy, where workers are encouraged to share their ideas. “They always have a say in how things go.”

 

Top news

The Death Book

Sure, it’s morbid. But it’s essential. Create an instruction manual for your company in the event of your untimely demise.

Brickman to buy ValleyCrest

Sources say talks are in advanced stages, but a deal is not certain.

Step-by-step budget building

Two ASIC members discuss their real-world budget strategies.

Top budget busters

Answer these two questions for your clients to look smarter and more professional.

How to avoid sticker shock

Help your clients not freak out with a few simple strategies.