How Strategic Training Can Strengthen Your Team

Posted: November 29, 2018 - Blog, Executive Focus, Family Business

Attorneys, accountants, and professionals in general are familiar with the concept of continuing education (CPE) and I think we would all agree that training is important at all levels of an organization.  Unfortunately we are currently in a business environment that presents challenges from a labor shortage perspective.  Because of labor shortages companies are in the position of having to focus training efforts on new hires, some of these employees do not last very long and are replaced by additional new hires and the training cycle repeats.  This occurs to the detriment of long term employees who are neglected from continual training.

To bring some discipline to the training process at all levels including management, the company should establish goals on the number of hours of training specific to each employee.  Once these goals are set and understood by the employee, managers need to monitor the progress towards the goal and make necessary adjustments as the year progresses.

While most companies have good intentions in this area we tend to overlook the slippage that occurs in busy times when management is focused on the daily fire-fighting.  Our experience has shown that one of the best forums to provide meaningful training and team building experience for the executive team is through the use of the CDH Executive Focus process.  This process provides a forward looking, brainstorming monthly financial review meeting that incorporates key performance indicators that monitor all the critical areas of the business and the progress toward these goals.  This process has a number of key advantages for your organization:

·       It includes the entire executive team

·       It is particularly beneficial in situations where is the company is growing rapidly or has to adapt to a changing environment

·       In situations where personnel have been elevated to more responsible positions or new personnel are hired and are learning new jobs

·       In family businesses where the next generation is being trained to eventually manage the business

 

 

At CDH our Executive Focus service offering is all about making your individual internal metrics come alive.  For over 40 years we have been helping companies monitor and manage their KPI’s in a unique format to drive continuous improvement.  If you would like to learn more about our Executive Focus process, please contact Dennis Pierce, Director of Management Consulting at [email protected] or 262.784.4040.

Dennis Pierce

Dennis Pierce joined CDH in December 2015 bringing nearly 40 years of experience with him. As management consulting director, Dennis is responsible for providing ongoing accountability coaching regarding finance and operations to CDH clients. https://cdhcpa.wpengine.com