Succession planning is a perennial concern in the ranks of executives, and rightly so. The wave of boomers retiring was slowed by the seven-year downturn, but we have now emerged from the great recession. Though many people have not fully recovered, the reprieve can’t last forever.
Isn’t it sad to admit that the primary functions of finance are, by their very nature, a ton of waste?
As a CPA and information systems consultant, I remember when I realized that I was seen as the “enemy” of the LEAN experts. Management/cost accounting had become mired in the mud –actually driving wasteful recording, stuck in details that represented “muda” (waste) on the plant floor, adding no value to the customer, to the product or ultimately to the mission or objectives of the company.
“If you can dream it, you can do it!” said Walt Disney….and then came Disneyland!
“I have a dream” shouted Martin Luther King on the Washington mall to 250,000 people.
“Through hard work, perseverance and a faith in God, you can live your dreams.” wrote Dr. Ben Carson whose life was one of hardship before becoming a surgeon.
Assume that you are building a house. First, you would have the plans for the building to study and prepare for construction. You would then implement the plan and begin building the house, taking care to follow the plan and do each task systematically and in order. Sometimes you will deviate from the plan due to new information and then prepare a change order modifying the plan. You take care to make sure the plumbing and electrical are all in place before you hang the drywall. You have to have all the right parts in the right places in order to have the right house.
Few companies have found the holy grail of management: High Employee Engagement. In the average company, about 32 percent of employees are actively engaged in their work and about 20 percent actively disrupt operations. But for those who figure it out, the rewards are unmistakable. Companies who score at the top quartile of employee engagement outperform those in the bottom quartile on virtually every measure of success. The Gallup Organization finds the gap in performance between top and bottom quartile companies varies from a low of ten to a high of seventy percentage points depending on what dimension of performance is studied. Here is short sampling of those performance gaps.