CFO Studio Magazine - Curt Allen, CFO, Subaru

22 WWW.CFOSTUDIO.COM 1st QUARTER 2015 Join us in congratulating: Anurup Pruthi Children’s Place Paul Bassaline Crum & Forster Tony Piombino Kason Ed Imparato Hire Counsel and Affiliates Brian Meyers Lincoln Technical Institute I n the 1980s workplace studies indicated that 80-90 percent of employees stated they needed places to concentrate without distraction. Thus, the cubicle was born, a 10-foot- by-10-foot place to call home. The result of this walling in of ourselves was feelings of isolation, a loss of col- laboration, and a cultural disconnect within the office. Consequently, the pendulum swung the other way and along came the “open office,” where distractions abound and there is no privacy when needed. So, how do companies achieve the right balance? One answer involves a hybrid of space planning and organizational strategies for privacy. Researchers from WorkSpace Futures at Steelcase state that building an “ecosystem of spaces” is the best way to achieve a successful working environment. Having a mixture of enclosed spaces, shielded spaces (for partial privacy or working in pairs), and open spaces (for maximum collabora- tion) allows employees to choose where to best complete a task. Workers then move easily between collaboration and private time, increasing both employee satisfaction and company productivity. Strategic Planning 101 BUSINESS & MONEY A ccording to the Harvard Business Review , fewer than 10 percent of companies’ strategic plans are ef- fectively implemented. What’s worse, some research indicates that these ineffective plans deliver only 50-60 percent of the promised financial performance. There is a pervasive disconnect between the C-suite and the sales force who must translate strategy into actual execution with paying custom- ers. Frank Cespedes, author and senior lecturer at Harvard Business School, reveals four steps companies can take to align strategy with sales: Communicate the Strategy Target priorities must be made clear to the sales force. Concurrently, the C-suite must be made aware of the reports back from the field. Continually Improve Sales Productivity Know who your customers are. Research how to reach your firm’s ideal customers. Continually assess if these goals are being met and/or if your goals remain relevant. Improve Human Performance Throw generic selling methodology out the window. Understand which skills are imperative to your strategy and help the sales force to develop those skills. Make Strategies Relevant Attention C-suite: Listen to the sales force! Reduce assets allocated to underperforming strategies and evolve according to customer realities. Strategists must spend time in the trenches. No strategic plan will be effective if the vision of the company-customer dynamic is obsolete. Email new CFO info to Christopher.Borgese@CFOstudio.com Choice of Working Environment Improves Employee Experience Balanced Workplaces Are More Creative, More Innovative JOB PERFORMANCE JOB SATISFACTION 75 % 71 % 50 % 60 % CREATES CLIMATE OF INNOVATION HAS CREATIVE THINKERS 71 % 78 % 52 % 40 % Employees with Choice Employees without Choice Balanced Office Office Not Balanced Source: Gensler 2013 U.S. Workplace Study Is the “Open” Office Too Open? Kudos, Congratulations, and Reasons to Celebrate