Leadership Development - A Value Adding Contribution

Accountant's Minute 210

Attracting and keeping the right people is one of the four essential components of the “life cycle of a business”! (Verne Harnish – “Scaling Up”). Where-ever there is “people” there is also a requirement for “leadership.”

The development of “leadership skills” for team members is vital if a business is going to be able to develop internal people to undertake leadership roles within the business.

The leadership skills could include:

  • Commercial knowledge:
    • Understanding how “Trading Accounts” are prepared for each department or activity in the business.
    • Understanding of “Key Performance Indicators” that apply to the individual trading accounts under a manager’s control.
    • Explanation of how “Budgets” are prepared and understanding the input that will be required from individual team members.
    • Explanation of how the “cash flow forecast” is determined and an overview of the very important role that the level of investment in working capital items plays in the success of a business.
    • Explanation of the “Cash Conversion Cycle” as it applies to the individual manager’s responsibilities.
  • Personal leadership skills:
    • Developing “Delegation Skills”.
    • “Time Management Skills”.
  • Team and teamwork development:
    • Assisting managers to gain an understanding of “what makes good teams” and the dynamics that drive their formation and development.
    • Team leaders need to “adjust their leadership style according to team members’ competence and commitment and changing situations”.
    • Leaders need to have an attitude of “what can I do today, to help my teammates and my team?”;
    • When someone leaves conducting an “exit interview” with them.
    • Discussion with the team on the “key items to be implemented over the next three months” and the signing off on the agreed targets.
    • An overview of “Fair Work Australia”.
    • “Workplace Health and Safety Issues” applicable to this business.
  • Customers’ Input:
    • “Customer contact” – talking to customers or reading comments submitted by customers and preparing a report summarising customers input.
    • “Analysis of customer’s feedback” for submission to the manager’s team and ultimately to the leadership group.
  • Reporting function:
    • “Manager’s monthly report “ – guidance as to how the report should be written.
    • “Explanation of the processes at a leadership team meeting”, in particular – Minutes of the meeting and preparation of an Action Plan to assist in the implementation of decisions.
    • Reporting to the leadership team on “what is planned to be achieved in the next quarter”.
    • “Contributing guidance on the development of leadership skills” will assist each of your client’s leadership team members to run a better business and add value. This is another key role that your accountancy business could contribute to improving the business performance of your client’s business.

ESS BIZTOOLS is presenting a free webinar “Leadership Development – A Value Adding Contribution” on Wednesday, 9 October 2019 at 11:30am AEST / 12.30pm AEDT. To register please click here

If you require any additional information on the services provided by ESS BIZTOOLS to assist your accounting/business advisory firm to deliver a range of value adding non-compliance services which will improve your client’s business performance, please do not hesitate to contact us.

Have a great day!
Peter Towers

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