Sharing company financial information with staff can have huge benefits for A/E/C firms: It can forge loyalty, focus staff attention on real business issues and increase employees’ psychological buy-in and motivation. Learn successful ideas for sharing your financials so they’re understandable, relatable and appropriate. Learn also how this well-intentioned open-books policy can backfire, as well as how to avoid the greatest pitfalls you may encounter.
1. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
SHARE FINANCIAL
INFORMATION WITH STAFF:
WHY IT PAYS AND HOW TO AVOID THE PITFALLS
Jenifer Navard
Principal/Director of Finance
Eskew+Dumez+Ripple
#PSMJThrive
#EDR_Design
#JeniferEDR
2. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
JENIFER NAVARD
Principal, Director of Finance
Eskew+Dumez+Ripple
30+ Years of Experience
Accounting Degree/CPA
Background in Diverse industries
Accounting Services (Audit/Business Acquisition)
School Bus/Transportation
Healthcare
Insurance
Oil & Gas
Manufacturing
3. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
ESKEW+DUMEZ+RIPPLE
NEW ORLEANS, LOUISIANA
DESIGN EXCELLENCE
ENVIRONMENTAL RESPONSIBILITY
COLLABORATIVE COMMITMENT
COMMUNITY OUTREACH
2014 ARCHITECTURE
FIRM AWARD
LOUISIANA STATE MUSEUM
Baton Rouge, Louisiana
4. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
YEAR FOUNDED
NUMBER OF EMPLOYEES
AVERAGE AGE
COUNTRIES REPRESENTED
UNIVERSITY PROGRAMS
REPRESENTED
LEED ACCREDITED TECHNICAL STAFF
LICENSED PROFESSIONAL STAFF
1989
49
37
5
47
67%
54%
6. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
TRANSPARENCY
JUST ANOTHER TREND?
OR A BETTER WAY TO RUN YOUR FIRM?
SHARING IS CARING
EASIER SAID THAN DONE
LOOK BEFORE YOU LEAP
+
7. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
• PROCESSES ‐ TRANSPARENCY
“A LACK OF TRANSPARENCY RESULTS
IN DISTRUST AND A DEEP SENSE OF INSECURITY.”
DALAI LAMA
“A LACK OF TRANSPARENCY RESULTS
IN DISTRUST AND A DEEP SENSE OF INSECURITY.”
DALAI LAMA
12. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
If you are not providing information and
context, your staff will make up their own
facts and act on what they THINK is
happening.
GUIDE THE CONVERSATION
13. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
If you are guiding the conversation,
you will provide information that will
help staff understand the firm’s
strategy and process
GUIDE THE CONVERSATION
14. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
TRANSPARENCY
JUST ANOTHER TREND?
OR A BETTER WAY TO RUN YOUR FIRM?
SHARING IS CARING
EASIER SAID THAN DONE
LOOK BEFORE YOU LEAP
+
18. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
START WITH THE STRATEGIC PLAN:
WHERE YOU WANT TO GO AND HOW YOU PLAN TO GET THERE
FIRM SIZE
GROWTH
MARKETS
EXPERTISE
DIFFERENTIATORS
21. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
INCOME:
TARGETED EARNINGS & PROFIT
What are the primary slices?
How you decide what to spend?
How you decide what to spend?
How you manage firm resources
32. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
SALARY
INDUSTRY
AVERAGES & COL
ADJ
CONTRIBUTION
INDIVIDUAL
PERFORMANCE
RELATIVE
POSITIONING
MICRO/PERSONAL
see Appendix B
HOW STAFF SALARIES ARE SET
34. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
TRANSPARENCY
JUST ANOTHER TREND?
OR A BETTER WAY TO RUN YOUR FIRM?
SHARING IS CARING
EASIER SAID THAN DONE
LOOK BEFORE YOU LEAP+
35. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
CRITICAL CONSIDERATIONS
BE HONEST
BE ACCURATE
EXPLAIN WHY IF YOU CAN’T SHARE
NO FLUFF OR PLATITUDES
TONE/ATTITUDE
ALLOW FOLLOW UP AND QUESTIONS
36. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
HOW & WHO
ALL-STAFF MEETING = ONE FOR ALL
ALLOW ADEQUATE TIME
PRESENTER TO BE FORTHRIGHT
KNOW THE MATERIAL
ALLOW FOLLOW UP AND QUESTIONS
37. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
WHAT HAPPENS IF THERE
IS BAD NEWS?
FIRST… LOOK AT PREVIOUS TWO SLIDES
CONSISTENTLY SHARING WITH STAFF
WILL GIVE THEM TOOLS TO UNDERSTAND
DON’T FOOL YOURSELF INTO THINKING THAT
THEY DO NOT KNOW SOMETHING IS HAPPENING
40. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
“NEVER LET THINK THAT LACK OF
VARIABILITY IS STABILITY.
DON'T CONFUSE LACK OF VOLATILITY
WITH STABILITY, EVER.”
NASSIM NICHOLAS TALEB
42. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
Make sure you have conversations
with key staff to help them
understand their importance and
the ultimate upside
YOU WILL PROBABLY LOSE A FEW STAFF
BUT YOU ARE GOING TO ANYWAY…. AND WILL LIKELY BE STRONGER
57. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
Responsibilities Carried
Project
(Production/Design/Performance)
Firm (Nurture the Firm)
Business Development (Get Work)
Community/Civic/Cultural
Engagement
Contribution
Production
Design
Project Coordination
Management
Client Interaction
Special Skill Set
Technology
Design
Building Performance
Many other areas
CONTRIBUTION: WHAT YOU DO
58. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
Quality of Your Work
Is you work thoughtful, innovative,
creative and considered
Strategic Thinking
Are you thinking beyond the task at hand
Efficiency & Effectiveness
Meeting deadlines, timely production,
participating as a team member
INDIVIDUAL PERFORMANCE: HOW YOU DO IT
59. #PSMJTHRIVE
Eskew+Dumez+Ripple Architecture. Interior Environments. Urban Strategies
Project Capacity
Relative to others in the Firm and
Industry Standards
Level
Considering your ability to contribute
at the project and firm level – where
should your salary be?
As you become more experienced – these two factors
will have greater impact
RELATIVE POSITION: HOW YOU DO IT