Finance Matters

Surviving Change Part Two: Finance Matters

We're back for part two of our two-part series on Jeffrey M. Hiatt's book "The Employee's Guide to Surviving Change."  This pod focuses on the ADKAR method, and how we can assess where we are in the process:  Awareness, Desire, Knowledge, Ability, and Reinforcement.  ADKAR is a practical framework for working through change yourself and helping your team to navigate it.  

Resources Mentioned:

The Employee's Guide to Surviving Change

Information and resources on the ProSci ADKAR model

Applying ADKAR

Surviving Change Part One: Finance Matters

Coming to you from Patty's dining room table, it's part one of a series on Jeffrey M. Hiatt's book The Employees Survival Guide to Change.  The book is a short, pithy read with lots of great insight into change and change theory.  We'll walk you through the book's practical suggestions for succeeding in times of change.  Thanks to our special guests Thor and Mickey Marbury for the cuddles as we recorded ;)

Power of Habit: Finance Matters

Patty and Brandi are joined by guest host Chris Doran to discuss Charles Duhigg's groundbreaking book Power of Habit.  Do you have habits you want to break?  Or do you want to start a new, healthy habit? If so, check out this discussion -- Duhigg outlines a practical framework for understanding your habits and changing them.  

 

Resources Mentioned:

Power of Habit

Charles Duhigg TED Talk  (this has the cookie story in it!)

Power of Habit summary  -- See especially the Chapter 1 section on the Habit Loop

Nudge, by Richard Thaylor

The Wellness Wheel

Coursera:  The Science of Wellbeing

 

During the Review: Finance Matters

Excuse the ambient noise -- we recorded this episode live from EACUBO in Boston!  Tune in for tips on how to use your yearly performance evaluation time most effectively.  

Self-Awareness and Work Relationships: Finance Matters

Part two of our two-part series on Self-Awareness, with guest Theran Fisher.  Join Patty and Brandi as they discuss with Theran self-awareness' role in the workplace.  You'll learn how who you are impacts how you work with others, the pitfalls of lack of self-awareness in the workplace, and how to better work with people who aren't self-aware.

Resources Mentioned:

True North by Bill George

Emotional Intelligence by Daniel Goleman

Disc Assessment

Meyers-Briggs

Talent Management Site

Emotional Intelligence Class from Talent Development

Self-Awareness and Self-Leadership: Finance Matters

What does it really mean to be self-aware?  Do you know why you behave/respond the way you do?  Understanding your thoughts, feelings, and values can make you more effective as a leader and a colleague, and in life in general.  Join Patty and Brandi for part one of a two-part discussion featuring Theran Fisher of UVA's Talent Management department.

 

Resources Mentioned:

True North by Bill George

Emotional Intelligence by Daniel Goleman

Disc Assessment

Meyers-Briggs

Talent Management Site

Emotional Intelligence Class from Talent Development

 

 

Preparing for the Review: Finance Matters

It's yearly performance rating time here in UVAFinance.  Whether you're a manager or not, you'll find this content interesting as you get ready for performance reviews.  Patty and Brandi discuss what to keep in mind when evaluating team members, and how to avoid common rater biases.  It's a must-listen for this time of year (and good to bookmark for mid-year reviews!).

 

Resources Mentioned: 

 

Swot Analysis

Market and Societal Trust, Speed of Trust pt.5: Finance Matters

Welcome to the last installment of our series of Stephen M.R. Covey's Speed of Trust.  In this episode, we cover the fourth and fifth waves: Market and Societal Trust.  Tune in and learn more about these waves, and also how to inspire trust in others.  

 

Resources Mentioned:

Smart Trust Matrix-  See an image here:  http://blog.ashtonbusiness.com/2016/07/to-trust-or-not-to-trust.html

"Fish discover water last" in French?  Le poisson découvre de l'eau dernière.  :)

Organizational Trust, Speed of Trust pt. 4: Finance Matters

Wave 3 - Organizational Trust:  The principle of alignment

 

In this pod, we deal with establishing trust with internal stakeholders.  If you don't have the level of trust and high-trust dividends you want in your organization, it's time to look at the principle of alignment.  Join Patty and Brandi for the fourth pod in the Speed of Trust series and learn more about the paradigms affecting cultural trust. 

 

 

Resources Mentioned:

The 13 Behaviors of High-Trust Leaders Mini Session, From Franklin Covey  

 

The Third Wave — Organizational Trust

The Principle of Alignment

All organizations are perfectly aligned to get the results they get. – Arthur W. Jones

Truly, symbols are powerful. They carry disproportionate value. They always override rhetoric. They communicate paradigms far more clearly than words. And they do so with geometric influence. (240)

THE 7 LOW-TRUST ORGANIZATIONAL TAXES

1. Redundancy

…a redundancy tax is paid in excessive organizational hierarchy, layers of management, and overlapping structures all designed to ensure control. For the most part, it grows out of the paradigm that unless people are tightly supervised, they can’t be trusted. And it is very costly. (250)

2. Bureaucracy

Low trust breeds bureaucracy, and bureaucracy breeds low trust. In low-trust organizations, bureaucracy is everywhere. (251)

3. Politics

…in many ways, “politics” is an antonym for trust. (251)

4. Disengagement

Disengagement is what happens when people continue to work at a company, but have effectively quit (commonly referred to as “quit and stay”). They put in what effort they must to get their paycheck and not get fired, but they’re not giving their talent, creativity, energy, or passion. (251)

5. Turnover

I’m not talking about the desirable turnover of nonperformers, but the undesirable turnover of performers. (251)

On average, it costs companies one and half to two times the annual salary to replace an exiting worker. (252)

6. Churn

Churn is the turnover of stakeholders other than employees. (253)

My sister told me about a restaurant she went to recently where she asked the waiter what he recommended from the menu. The waiter’s response? “I recommend going to another restaurant.” (253)

…employees tend to treat customers the way they’re treated by management. (253)

7. Fraud

THE 7 HIGH-TRUST ORGANIZATIONAL DIVIDENDS

1. Increased Value

2. Accelerated Growth

3. Enhanced Innovation

4. Improved Collaboration

Different than the traditional approaches of coordination and cooperation, real collaboration creates the key opportunity model of today’s world. (256)

5. Stronger Partnering

6. Better Execution

It is better to have grade-B strategy and grade-A execution than the other way around. (257)

7. Heightened Loyalty

Nothing is as fast as the speed of trust. Nothing is as profitable as the economics of trust. Nothing is as relevant as the pervasive impact of trust. (258)

The ability to establish, grow, extend, and restore trust truly is the key leadership competency of the new global economy. (258)

Relationship Trust, Speed of Trust pt. 3: Finance Matters

Wave 2 - Relationship Trust and the 13 Behaviors of high-trust leaders

Relationship trust is all about consistent behavior.  In today's episode, Patty and Brandi delve further into Covey's book The Speed of Trust, discussing the universal principles that govern trusting relationships.  The 13 behaviors will significantly enhance your ability to establish trust in personal and professional relationships. 

 

 

Resources Mentioned:  

The 13 Behaviors of High-Trust Leaders Mini Session, from Franklin Covey