Managing for profitability

Does your management style bring out the best in your employees and facilitate profit improvement, or can you sometimes actually be an impediment to improved profitability?

Take the test below to see how effective you are at managing your people. Score one point for every 'True' answer.

    TRUE FALSE
1 I encourage employees to set individual goals that tie in with our company goals and objectives    
2 I have practical policies in place to ensure that all employees are regularly informed of key developments in the business (both good and bad) and I give them an opportunity to ask questions and make suggestions    
3 Where possible I delegate tasks to others    
4 I make a special point of communicating to staff that their contribution is valued    
5 I never allow myself to become so busy that I do not have time to talk to employees  - I'm there for them when they need me    
6 I am always looking for opportunities to pass on my skills and experience to employees    
7 I have a regular appraisal with each employee which provides an opportunity to discuss past performance and future goals    
8 I make an effort to keep my ear to the ground and try to detect and address problems with employees before they escalate    
9 I am flexible enough to allow employees time and opportunity to deal with major personal and/or family problems before they impinge on their work performance    

Score:

8-9 You clearly understand that a key to improved profitability is good people management
6-7 Try imagining yourself as one of your employees and consider how management could help you improve your performance
3-5 Ask not what your employees can do for you but what you can do for them!
2 or less If the tables were turned, your employees might sack you!

Back Office

Outsource some or all of your finance management.

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BIG PACK for small businesses

Fixed fee, protected year-end accounts for small business.

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Wealth Protection

To talk to the tax team

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