A little background…..Our client wanted to implement a bonus plan that was 200% higher than previous years and asked for our assistance with how to structure this plan. Sounds generous…right…until you dig a little deeper and that’s exactly what our CFO team did with our collaborative issue processing session.
After a few minutes of questions from our internal CFO team, it became evident that the 150 employees of this company had salaries that were 75% below market norms. In addition, there was no formal performance management system in place, no annual goal setting, no system to offer feedback to the employees, and no formal training program in place.
So…one of our CFO’s immediately said we needed to “Flip the Script” and the team immediately began to focus on the real issues at hand on behalf of our client. We launched into creating a system to, over time, align pay with market and reward employees for real contributions to the bottom line in ways they can control. We did construct a bonus plan as requested by our client; however, what we did was so much more…..We created a new culture…We literally shifted the organization in ways to motivate employees, improve retention for those we want to keep, train those we want to invest in, and ensure that those that cannot achieve their goals or the goals of the company are directed down a different path.
Flip the Script is when you do the opposite of what your natural instincts are. What happens as a result can transform a situation. Our CFO team is brought in by our clients to do exactly this. We are not called in to tell our clients what they want to hear. Instead, we often turn the issue upside down and offer some deeper wisdom to achieve what is truly desired. We tell them what they need to hear and great things happen as a result.
I am honored to work alongside the most brilliant team of CFO’s and to watch the power of many dynamic CFO minds working together to solve our client’s issues. It is times like this I am reminded of how we are filling our mission statement with each client experience: To Enrich Lives.
Are you ready to let someone help you Flip the Script…..Reach out to us Today
Shannon B. Carbone
CFO Strategic Partners