Bank finance articles and tips

[code][/code] Criticism of absorption cost systems have lead to improvements but has not always lead to the replacement of these systems by either a variable or activity based system. These criticisms address the fact that accounting systems have to balance the contradictory goals of decision-making /control with external reporting. Unintended consequences of using accounting control systems for performance evaluations can lead to decisions that result in individual reward, but not optimal reward for the firm. By adopting specific controls, management defines job responsibilities because these controls are used to evaluation job performance through out the organization. But the fact that most companies haven't adopted variable costing systems indicates that the costs of such systems are viewed as outweighing their benefits. All control systems rely on successful incorporation into performance evaluations matrix for effective execution.

In this article I'm going to look at the ways in which you can adjust your strategies to improve the performance of your trading system - how to do it, how not to do it, and how we can ensure that it works when we do......

Here's a great technique for all managers, supervisors, and anyone who has to confront a subordinate for inappropriate or less than a superlative performance. I call it "Giving 'em the chair." It works like this.

You call the would-be offender into your office and exchange the initial pleasantries and establish a modicum of rapport and you start out with something like "I have a problem and I was wondering if I could ask you to help me figure something out." Notice we haven't blamed anyone or told him he has a problem, yet. The usual response is that the candidate will lower his guard and be more than willing to help you and the team. Then proceed to let him peek behind the curtain. Tell him you have been having an issue with an employee, don't say too much, keep it light and immediately segue and ask him to sit in your chair. Ask it as a favor. "Would you do me a favor, this will really help me, please sit in my chair for a moment, no really, please." After the initial reluctance he will settle into the chair. Then ask him in a jesting way, "Whudyathink, it's a nice chair, huh?"

Leaders and Managers are often frustrated in their attempts to improve employee engagement. Even with all our current efforts for improvement, according to Blessing and White's 2011 Employee Engagement survey, the average organization stands at only 31% engaged. I believe much of the frustration and poor performance stems from the misconceptions leaders have about how to improve employee engagement.

Misconception #1 - Managers are fully responsible
The first misconception is "managers are fully responsible for engagement" of employees. This is a contradiction because employee engagement is, by definition, an emotional response to the environment such that employees willingly exert greater discretionary effort into their work. Managers cannot create an internal emotional response. Managers can only create a better environment. The environment must offer a higher probability of the engagement experience. The major responsibility for employee engagement must therefore be placed with the employee him/herself. The employee must take advantage of the environment and all the elements that create engagement. Employee engagement is a joint responsibility.