It’s common for employees to suffer from the “Silo Syndrome”. This means that their only frame of reference relates to the responsibility in their department with little regard to how their actions might impact other areas of the business. Consider this example: sales representatives tend to focus on the value of invoices generated through their efforts with little or no consideration to increasing costs, inventory levels, extended payment terms etc.
There is however a way to influence all employees to be more mindful of how their actions impact other resources in a business. Furthermore, if the incentives are appropriately designed, they will drive the right behaviors that will eliminate a silo thinking mentality.
Neville Joffe is the creator of the AME Learning System, a resource providing an innovative instructional approach that helps accelerate the teaching and learning of foundational finance and accounting to assist companies with their analysis and strategy.
During this fast-paced, interactive session, Neville will share with you best practices while opening your mind to a new way of thinking about how Key Financial Indicators can be used as tools to drive the right behaviors in your organization. The result? A win-win solution for shareholders and employee performance.
Key issues that your organization may face
- Sustainable cash flow
- Employee accountability
- Unable to create appropriate incentives to drive the right behaviours
- Shareholder/stakeholder/constituent consistent satisfaction
Typical actions that address symptoms rather than the root cause
- Collect accounts receivable quicker
- Discount prices to sell more
- Demand more production or output without considering the constraints that block the ability to achieve targets
- Einstein’s definition of insanity. Doing the same thing over and over again while expecting a different result.
Seminar key takeaways
- How to incentivise employees to drive the right behaviours
- Ideas to establish a culture of accountability, resulting in an improvement to profit margins, sustainable cash flow and ROI
To learn more about The AME Learning System, please check out http://www.amelearning.com/.
For more information on how to purchase tickets, please click here https://www.hss-ca.com/events/