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August 2010

August 29, 2010

Lagniappe - Every Bit You Paid For and Then Just a Little Bit Extra

BakersDozen_small
I recently heard someone use the word Lagniappe (lan-YAP’) and of course, this is not a word that I have ever used, but wanted to understand more. It is a French Creole word that means, "every bit you paid for and then just a little bit extra." A small gift given to a customer by a merchant at the time of a purchase (such as a 13th donut when buying a dozen - The Baker's Dozen).

 

In my many interactions with organizational leaders, they always ask me what everyone else is doing to survive/thrive in this recession. What I see is that now more than ever, you need more Lagniappe. I see so many businesses cutting back on portions, services, quality... as a means of reducing expenses.  This may save some dollars in the short term, but could be costly in the long term.

 

These same businesses are cutting back on employee costs and demanding more from fewer employees.  This can cause employees (the front lines of customer interaction) to do just enough to get by, but certainly no Lagniappe.

Continue reading "Lagniappe - Every Bit You Paid For and Then Just a Little Bit Extra" »

Posted at 08:22 AM in My Thoughts | | Comments (1) | TrackBack (0)

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August 22, 2010

Steps to Successful Leadership Succession

Succession
Recently, I had the privilege to speak at the PAMIC (Pennsylvania Association of Mutual Insurance Companies) annual convention. This year the event was a Tri-State event and included both West Virginia and Virginia Mutual Insurance Companies and was held at the magnificent Greenbrier Resort. I could write an entire post about this amazing place and encourage anyone looking for an elegant, historic resort with unbelievable amenities and staff, to check out the Greenbrier.

I was invited to speak on the topic ‘Steps to Successful Leadership Succession.’ During my presentation I tried to focus on how to turn on the engine of leadership development inside any organization. I also shared my view on the difference between replacement planning (naming backups) and succession planning (developing people). I also focused on the book Drive and the importance of intrinsic motivation when developing leaders.

If you would like to see a short video clip of me presenting, please click on this link. Likewise, if you desire to have a copy of my presentation, please contact me.

Posted at 08:10 AM in Speaking | | Comments (0) | TrackBack (0)

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August 19, 2010

Questions to Assess Corporate Performance: Setting Your Business On the Right Course

Corporate Performance.jpg
In preparation for my upcoming discussion group about Thriving in the New Normal, I have been doing some thinking, reading and collecting of ideas for ways to improve corporate performance.  According to the 2010 U.S. Bank Small Business Survey, nearly 90 percent of small business owners across the nation say the economy is still in a slump and 75 percent expect the recession to continue into next year.

 

If there is a new normal and consumer spending has been reset for the next few years (or more), what can organizations do?  Maybe it's time to take a good look at your company's operations with an eye toward giving it a tune up. Think in terms of striking a careful balance between cost cutting, new spending and improving operational efficiency.

 

Focus on the fundamentals by answering some performance questions like these:

Continue reading "Questions to Assess Corporate Performance: Setting Your Business On the Right Course" »

Posted at 10:32 AM in Economy/Stimulus, Management | | Comments (0) | TrackBack (0)

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August 15, 2010

Tax Equity Act – Making Tax Brackets Fair for All?

Tax Fairness
As we all have heard, the “Bush Tax Cuts” will expire on December 31 and much higher tax rates will arrive on New Year’s Day.  This current Democrat controlled Congress continues to talk about “taxing the wealthy.”  The irony of the tax increase that arrives on January 1 is that it will hit the residents of high income, Democrat leaning states like California, Connecticut, New Jersey and New York the hardest. This is a problem for pro tax Democrats.

 

But fear not, Representative Jerrold Nadler (D-NY) wants to fix this injustice.  He has proposed a bill called the Tax Equity Act, which would "require the IRS to adjust tax brackets proportionally in regions where the average cost of living is higher than the national average."

 

In other words, the various tax brackets would apply to residents in certain regions at higher income levels versus other parts of the country. A family with an income of $100,000 or even $1 million in Manhattan would pay less federal income tax than a family with the same earnings in rural America.

Continue reading "Tax Equity Act – Making Tax Brackets Fair for All?" »

Posted at 05:05 PM in Economy/Stimulus, Tax | | Comments (0) | TrackBack (0)

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August 10, 2010

DRIVE: The Surprising Truth About What Motivates Us

Drive Most management courses taught in college and business school teach us that the best way to motivate people is with external rewards like money – the carrot and stick approach. According to author Daniel H. Pink in DRIVE: The Surprising Truth About What Motivates Us, this actually can have the exact opposite impact. His new thought provoking book comes off of his great success with his book A Whole New Mind.

 

In DRIVE, Pink draws on decades of scientific research on human motivation to reveal the secret to high performance and engagement – at work, at school, and at home – is the deeply human need to direct our own lives, to learn and create new things, and to do better by ourselves and our world.

 

Pink explains the surprising mismatch between what business/management does (carrot and stick approach) and what science actually reveals. People are best motivated not by “extrinsic motivation” but rather by “intrinsic motivation,” wherein the performance of the task is its own reward – when work doesn’t feel like work.

Continue reading "DRIVE: The Surprising Truth About What Motivates Us" »

Posted at 06:20 PM in Book Reviews | | Comments (0) | TrackBack (0)

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August 08, 2010

Featured Online Discussion – Is There a New Normal?

New Normal
Is there a new normal with this economy? If so, what will organizations need to do differently? What should they be doing as a result of the financial crisis, pending tax increases, rising health care costs, and reduced consumer spending? What can leaders do to make sure their organizations not only survive but thrive?

 

If you have questions or opinions and want to join me on Friday, August 20th at 9:00 am EST, I will be leading an online featured discussion group with Toolbox for Finance. On the morning of the discussion you can follow this link to join the discussion -  http://strategy.finance.toolbox.com/directory/economic-trends-conditions.

 

For those on the West Coast and PST who prefer to not start such a heavy discussion at 6:00 am, the discussion group will continue throughout the day. If you are unable to participate in the discussion that day but want to ask or share ideas, please feel free to email them to me in advance.

 

I look forward to hearing your thoughts and sharing my feelings on how to thrive in the New Normal. 

Posted at 09:23 AM in Economy/Stimulus, Speaking | | Comments (0) | TrackBack (0)

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August 04, 2010

McKonly & Asbury Named "Simply The Best" Tax Accountant!

Simply The Best
As a partner at McKonly & Asbury, I am proud of our team and know we have engaged employees that provide a high level of service. Therefore, when our clients and the community recognize us, my chest swells with pride.  Such an event just happened when readers of Harrisburg Magazine participated in a 3-month poll to select the best service providers in the area. I am happy to report that this year McKonly & Asbury was selected as "Simply The Best" Tax Accountant!

 

For a regional firm like us, this is truly an honor as often these awards are given to smaller local firms that focus only on providing personal tax services. It is a true testament to our tax group who serve and advise start-up entrepreneurs as well as clients with revenue over $25 billion.

 

McKonly & Asbury has been honored to be chosen as the favorite in past years and we are humbled to be back on the list!  I wish to thank our clients and friends in the community for your continued trust in us as your accountants and business advisors.

Posted at 11:13 AM in My Thoughts | | Comments (0) | TrackBack (0)

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August 01, 2010

Forced Employee Engagement and the Overworked Employee

Overworked Employee
Has your organization reduced its workforce during this recession? Have you asked more of your employees? Are your employees working harder and performing at a higher level?

 

A recent survey of employees finds that the average “job footprint” (what a worker is expected to do) has increased by a third since the beginning of the recession. The reward for all this extra effort is mostly frozen pay and reduced benefits.

 

In my many interactions with business owners, I have heard some speak of employees as being “lucky to still have a job.” While that may be true, thinking (and acting) in such a manner is very short sighted.

 

I recently read Deloitte’s Annual Workplace Survey and one-third of employed Americans plan to look for a new job when the economy gets better. What is interesting is that half of those planning to leave state the reason is a “loss of trust in employers.”

Continue reading "Forced Employee Engagement and the Overworked Employee" »

Posted at 07:59 PM in Employee Engagement, Management | | Comments (2) | TrackBack (0)

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