Chapter 1: The Golden Key - Finance

In this Chapter:

• An example of communicating value

• The importance of quick connections to what is valuable

• What knowledge and skills executives require for the new workplace learning and performance professional

• How financial communication increases sales and funding

• How financial communication improves job search success

• Why communicating financial value is as important to the participants in your programs as it is to executives.

So, you want a seat at the table. This book offers you some practical and, in some ways, easy steps that can get you out of the position of feeling like you are an expendable part of the organization and into a position of being in control of your destiny. How? By knowing a few facts about what is important to those who sign the checks (yours included) and how to present what you do to these decision makers in an understandable and bottom-line-driven manner.

Take a look at the following statement regarding an inventory management performance solution:

‚“Five months after implementing our inventory management performance initiative, spoilage decreased by 30 percent, thereby reducing our cost of goods sold by $475,000. The result is a significant increase in our gross profit and available cash. This improvement in cash flow means that our company can implement our aggressive new market strategy in the first quarter with substantially less risk from short- term debt. ‚½

How do you think your senior management would react if you walked into a meeting and presented a version of this statement for a program you had delivered? Do you think it could help you gain a seat at the table and more respect for yourself or your department?

If you are reading this book, the answer is probably yes. The purpose of this book is to show you how to think about your own organization in these terms; how to create your own unique value statements; and, ultimately, how to develop a solid plan to constantly communicate value up the ranks to the most senior levels of your organization or your client ‚ s organization.

As you might guess, being able to make these kinds of statements is the result of some work on your part and a little knowledge. As you go through this book, you will build the knowledge and confidence to develop your own plan, but to create your plan you will have to understand some basic concepts.

Stick with it. This book tells you just what you need to know and nothing more. In addition, you will be advised all along the way why these concepts are important to workplace learning and performance (WLP) professionals. As you work through this book, you will find easy to follow worksheets and exercises that simplify the process of connecting your WLP solutions to the financial value your senior executives are looking for.