HOW TO TALK ABOUT FINANCIAL ISSUES WITHOUT MAKING A SPIN

Managers must sometimes discuss fiscal and bottom-line topics with employees. Employees can use discussions about money, economics, fiscal and bottom-line ideas to spin. Most people have deep and abiding opinions , hopes and fears about their money. People have an emotional relationship with money. Money talk can stir up the most stable person into emotions about their survival and security. Discussions about money should be dignified, supportive, encouraging, positive, and thoughtful.

• Become familiar with all the fiscal details before you share

• Never share anything that is a partial, rumor-producing, tidbit of information

• Create several different ways to share budget or financial information to match the multiple learning styles of your team

• Concentrate on positive outcomes

• Do not mix business with emotions

• Find leadership in your team from people who appear comfortable with financial context

• Ensure that everyone knows the goals and how their work fits into the small and big picture

• Justify cost-consciousness by showing how it creates personal value added benefits

• Develop ways for financial department leaders to meet with non-financial department leaders to discuss how their teams can value one another

• Take a course or offer courses on marketing, customer services, finances, or budgeting

• Create buy-on by asking team members what they would do if they owned the company

• Involve your people whenever possible

• Have your CFO create a tutorial or workshop for employees who are far removed from the financial end of the company

• Have your employees create a tutorial or workshop for financial officers who may be far removed from client or direct services

• Understand how financial information impacts each department