Managers today may need to "widen" their open door policies, especially as the pace of business accelerates. In a recent nationwide survey of chief financial officers (CFOs), 61 percent of respondents said the biggest challenge companies face in employee management is a lack of communication with staff.
The survey was developed by RHI Management Resources, North America's largest consulting firm providing senior-level accounting and finance professionals on a project basis. It was conducted by an independent research firm and includes responses from 1,400 CFOs from a stratified random sample of companies with more than 20 employees.
CFOs were asked, "What one mistake do companies make most in managing their employees?" Their responses:
- Lack of communication between management and staff - 61%
- Lack of recognition and praise - 19%
- Lack of flexibility in scheduling hours worked - 7%
- Lack of authority given to employees - 6%
- Other - 4%
- Don't know/no response - 3%
"In today's fast-paced business environment, it's easy to rely on e-mail or voice mail to stay in touch with employees," said Cecil Gregg, executive director of RHI Management Resources. "Electronic communication, however, cannot replace personal, face-to-face interaction. Managers need to make time for informal meetings or weekly project status checks, as a group and individually, to build a team environment and maintain positive morale."
Gregg added that listening skills are critical to effective communication. "Establish a dialogue with employees to ensure that their work is challenging and rewarding. Encourage them to voice their concerns, and solicit their ideas on improving efficiency or productivity."
A survey of consultants with RHI Management Resources confirmed this trend. Nearly 60 percent of 230 senior-level financial consultants polled said the greatest challenge companies face in managing their employees is a lack of communication with staff.
RHI Management Resources has locations in major cities throughout the United States, Canada and Europe, and offers online job search services at
www.rhimr.com.
