Financial Planning | Organizational Development | Training & CPE

Money changes everything … or does it?

Choices It's interesting how money changes our priorities, isn't it?

The folks at Ajilon Finance and the Institute of Management Accountants have released the results of an interesting survey that examines the economy's impact on a company's leadership priorities. Among the findings:

  • When the economy is good, the top three priorities for leaders are recruiting and retaining talent (47 percent), pursuing growth opportunities (42 percent) and maintaining a competitive edge (42 percent).
  • When the economy is bad, leaders' top challenges are doing more with less (49 percent), motivating the workforce (44 percent) and pursuing growth opportunities (33 percent).

We've argued before that retaining your top talent should be a top priority in good times and bad, but it's encouraging to see that "pursuing growth opportunities" is consistently at the top of the board. It means leaders don't automatically bury their heads in the sand when the economy tanks.

It also means optimism prevails, and thank God for that.

Equally encouraging is the fact that many leaders still see staff training as a non-discretionary expense ... as they should.

"Taking leadership in your career and your life is important no matter what your role,” said David Adams, vice president of training and development at Ajilon Finance.

Hear, hear. Educating your staff is a great retention tool and succession strategy. Many folks will try to argue that, by educating your staff, you're giving them permission to jump ship, but I believe the opposite is true. By training them, you're not only making an investment in your organization's future; you're telling your staff you care about theirs as well. That breeds loyalty, and that strenghens your organization.

Train your people. Give them the skills they need to succeed, and you'll be amazed by how many of them decide that they want to succeed for you.

Train them at the Expo
The Maryland Business and Accounting Expo is the perfect opportunity to give your employees the skills they need to succeed. Slated for June 16-17 at the Baltimore Convention Center, the Expo will feature sessions that focus on both technical competencies and soft skills. Get complete details and register here.


Bill Sheridan