In a recent study of CEO’s, The Number One Skill Which Would Bring The Most Value To My Organization?, CEO’s agreed on “Business Acumen”. In this post I will continue the journey up the “C-Suite Ladder”. Buckle up it is going to be a fast ride up the next four steps in the next four weeks.
Rung three – Learn to crunch the numbers with analytics and data on matters the C-suite has an interest in.
Include events that impact the bottom line like turnover, benefits as compared to competitors, employee surveys, client satisfaction scores, attraction etc.
Do you know what makes your organization profitable? How profitable does it need to be to sustain its existence? What are the factors over which you have control, and how can you influence those factors? Do you know the difference between EBITDA and EBSA and ERISA?
Understanding the business is critical in today’s corporate environment. In most companies HR controls the largest segment of the budget, the Human Capital Investment. Learn to quantify the value of the metrics your C-Suite is interested in, in terms of time saved, problems eliminated, risk reduced, revenue increased or costs removed. Ask your company’s financial staff to help you prepare and present complex financial information. Collaboration with those that know will build your credibility within your organization. As an HR professional you are helping others within the corporation to think profitability.
Without a clear understanding of how to positively impact those investments to influence the financial health of the organization, you are simply sitting on the sidelines letting others make the critical decisions. To gain a seat at the table you have to be able to think, act and make decisions like the inner circle. Don’t think of yourself as a Human Resources Executive that works for a company, think of yourself as a Corporate Executive who happens to work in HR. Take ownership of organizational results and know what you are talking about.
CONTACT ME FOR A ONE-ON-ONE MEETING TO DISCUSS YOUR LADDER CLIMBING TECHNIQUES!
TRAVIS JONES CEO
Travis has been an entrepreneur and business owner in Tulsa for over 30 years. He is a well-known community servant and is dedicated to providing world-class service for everyone we encounter.Travis is a certified Life Options Retirement Coach and is certified to facilitate and deliver the Manager As Coach Learning Series (MACLS) through CPI. He serves on the board of Career Partners International (CPI) and is an equity partner in CPI, offering a global reach with over 220 offices. Travis serves on the Elder Board at Tulsa Bible Church, on the board of New Life Ranch and is a proud member of Tulsa Executives Association (TEA) and is active with several other organizations serving the community and beyond.