Are the days of dedicated experts and silo working over?
In a globalised world we often find that our skills are required to cross-over evermore. While we think there will always be a place for dedicated subject matter experts, additional general working knowledge of complimentary subject areas, intrinsic to the businesses we work in, will always be an advantage to enable us to view the “big picture”.
One particular area that we feel has significant benefits for cross-training is Finance.
Having an awareness of financial matters which affect the business and day-to-day operations is critical to ensuring a profitable enterprise. Managers who know how to control and own their budget, who are accountable, and who ensure a balanced approach to cost vs income generation can be a powerful asset to any business.
It’s about starting a conversation from a place where everybody has a basic level of financial literacy, and understanding of the critical profitability levers.
Empowering people with this knowledge give them the confidence to look at process from an end to end perspective, with a focus on what drives a business financially.
So how can businesses do this?
Businesses can provide a good quality base of technical skills through formal training
They can provide coaching and mentoring through others who have mastered these skills
Businesses can also provide opportunity to put skills into practise, in the context of the job role – allow autonomy over budgets, but balance this with accountability where regular discussions are taking place to orient and support people to make the right decisions.
The investment made in improving the financial literacy throughout the organisation should be evident in improved quality of decision making and better understanding of financial influences.
Contact us to start a conversation with us today about how a tailored, quality and meaningful financial awareness training course could support your organisation today with bespoke corporate training.