Rimberg Online Bookkeeping

Great news on the retirement front! According to Fidelity Investments, managers of retirement savings plans for over 11.2 million workers, this quarter brought an increase in the amount of money people put into their 401(k) accounts for the first time in a year!

Workers raising the amount they placed into funds actually outnumbered those reducing contributions. This is a huge step in our economic recovery, and emphasizes the importance of maintaining equities. The average account balance rose 13.5 percent, which Fidelity attributes to both the rally on Wall Street and higher worker and employer contributions. It just goes to show that maintaining a long-term outlook will reward you in the end!

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I recently referred you to a great article by Joseph Grenny emphasizing the importance of understanding human behavior in order to influence and maintain the best management techniques. Well today, I found a new article calling for a “shift in our managerial paradigms” to a focus on individual behavior. Coincidence? I think not!

Aubrey C. Daniels, a PhD who works with organizations to apply the science of human behavior in their workplaces, declares that traditional management practices (i.e. layoffs, year-end bonuses, automatic pay raises, etc.) are more likely to reward employees’ bad habits and punish good behavior, often failing to lead to the desired result. Most of us, as business leaders, are trained in numbers and fail to utilize research in human behavior.

In a recent BusinessWeek article, Daniels is yet another consultant to express the necessity of understanding human behavior in order to change organizational behavior and succeed. As managers, we need to understand the basic principles of behavioral science and apply them in a skillful manner to realize the full potential of our employees.

The good news – in such economic and business distress, now can be the perfect opportunity for mangers to reform the way they run their organizations! Move away from old, traditional methods that waste money and time and start fresh to change the way you manage employee behavior and performance. As a start, check out Daniels’ slide show of the 13 universally used and ineffective management practices and how to change them!

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I recently came across this article by Annie Fisher from Fortune Online and wanted to share it with you. It raises the importance of staying positive, as it can be the best defense against career stagnation, especially during these hard economic times.

According to Shawn Anchor, head of Aspirant, a consulting firm that advises Fortune 500 clients on how to keep morale and productivity up in these difficult times, a simple and positive attitude is key in remaining resilient, energetic, and influential in order to thrive and succeed through any situation. Anchor has spent many years researching “positive psychology” and he lists key mantras we can all learn a little from in order to remain happy. Below are some of his suggestions:

It is important to keep a gratitude list of things you are grateful for and always look for the good.

Even while working, everyone deserves to have a little fun so go on and forward that YouTube video! Bursts of humor actually induce clarity and creativity.

Decorate your office with things that lead to positive thoughts.

If you find yourself worrying about something, take a few minutes to write down how you’re feeling. Putting thoughts on paper usually decreases the magnitude of the situation.

Keep your friends and family close – relationships are the greatest predictor of success during stressful times, and are also one of the biggest contributors to happiness.

What do you think? What are some of the methods you use to stay positive at work?

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Midlife crises can be expensive. A Porsche? A girlfriend?

Move over Gates and Jobs! This spirit-lifting article from CNNMoney.com just goes to show that anybody can accomplish the American Dream!

You don’t have to be some whiz kid to accomplish the success of the American entrepreneur. According to a new study by the Kauffman Foundation, that stereotypical image of entrepreneurship is a complete myth. Typical founders are middle-aged when launching their first company. Seventy percent of first-time founders are married, and nearly 60 percent have a least one kid! You don’t have to be rich or a college graduate either. Over half the entrepreneurs studied came from blue-collar families and didn’t hold advanced degrees.

The common held belief that entrepreneurs are young, genius college kids is wrong; middle age really spurs on the entrepreneurial spirit! So, if you think it’s too late for your great idea, think again! There’s hope for all of us and now may be just be the perfect time to embrace it.

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We all know that clients stay longer when they feel appreciated. In this two minute video Robert explains how his client newsletter is turning heads and what elements he adds to make the clients want to read it.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

What networking group/s will you join?

Hi everyone, I’m hoping this article finds you all well. Many clients like to hide all of their “Confidential Information”. Sometimes, it’s not always the best play. Especially when things are not going well, and you are in year two of a three year lease on a brand new BMW, because that’s what your employees see. Perhaps opening up your books is not a bad thing, read on Grasshopper…….

Open up those books and share information with your employees! It could be the saving grace for your company. While tendency is for most CEOs to keep the inner workings of their company hidden from employees, open book management is actually proven to lower costs and boost profits. Especially during times of economic downturn, an increase in such transparency and accountability could be exactly what your company needs!

According to Jack Stack, CEO of Springfield Manufacturing and pioneer of the open book management technique, over 10,000 companies practice some form of the philosophy. Stack’s open book management technique sprung from a turnaround strategy that took his company from bankruptcy to profitability.

Open book management creates a culture where employees want to be involved in decision making so that everyone is held accountable. So give up some control and accept transparency — empower workers to feel that they can do something and that they have a say. Training employees to understand key financial measures increases company efficiency and can even save a company in distress!

For more information on open book management and how to create a culture of employee involvement, check out Great Game of Business, Stack’s conference and consulting group spreading the philosophy.

Robert Rimberg, CPA in NY inspired by Scott Hoffman and Brendon Burchard; Life’s Golden Ticket! Learn more about the Experts Academy.

Robert
Rimberg Online Bookkeeping

Robert Rimberg meets Tony Robbins