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Keep your eye on the target

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At my management team meeting this morning we reviewed the preliminary first half performance numbers for the Chamber.  Itís important for all team members to understand where we are as it relates to our plan.

The most important things my colleagues want is information and a sense of being part of something.  There are a variety of responses to this form of management, but the most progressive organization routinely include employees in various levels of communications.

One important issue for us relates to employee benefits.  We were socked with a 37 percent increase in health insurance costs this year after a similar increase last year.  That has prompted me to spend extra time looking for alternatives.  Iím happy to say that after significant due diligence, we are looking at an option that gives increased coverage at a lower cost.

Mid-course adjustments are necessary to reach your goals of profitability and growth.  If cash flow is good bring down your accounts payable and invest in those capital items you have been putting off. 

As important will be your planning for 2011 and beyond.  Now is the time to shape your plan for next year assuming you experience similar results for Q3/4.  Make sure you include your staff in those discussions.  Give them ownership of helping to shape plans and budgets.  This not only makes them accountable but gives them a sense of pride and belonging.

To profits, jobs, and growth!

Posted by: Dan Lindblade, CAE @ 3:19:02 pm  Comments (0)
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