Posts Tagged finance

Make a List, Check it Twice

 
 

 

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Make a List, Check it Twice
December 13, 2011
 

Every year at Christmas, I promise myself to not spend money on presents like I did the year before. I have the best intentions and I put a limit on the amount I will spend on each person. And just as sure as I make the promise, every year my intentions go out the window.

This year I have finally decided why this happens. I wait too long to shop. By the time I make it to the mall, I have only a few weeks to shop, wrap, and deliver. So I am always in a panic and I get to the point that I don’t care what it costs, I will buy anything if I can just mark Dad off my list.

In fact, I think I have this problem with birthdays too. Okay, I am serious this time; I will not make this mistake next year. I promise to plan ahead. I promise to not overspend. I promise to relax and focus on what the holidays are all about – overeating and family!

Read more on this topic here…
Britney Kirsch
Account Manager

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Worry Free Finances

If you would be wealthy, think of saving as well as getting.
- Benjamin Franklin

This is the time of year when many people resolve to turn over a “new leaf” and make important changes in their lives.  For a lot of us, that includes changing the way we manage our money.  With the over-spending that tends to occur around the holidays, it’s easy to decide to make a budget – but the hard part is sticking to it.  Below are some online tools to help you do just that.

www.mint.com

www.kiplinger.com/tools/budget

www.mvelopes.com

www.budgettracker.com

If you feel like you would benefit from more personalized help getting started, you may consider checking with the Better Business Bureau (www.bbb.org ) for accredited financial consultants in your area.

Happy New Year!

~The HealthPsych Team

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Psychology of Performance – 16 Accountability and Authority

In our consulting through BizPsych (www.BizPsych.com), organizations ask us to assess and intervene with vertical relationship conflicts as well as  cross-departmental conflicts on a regular basis. These conflicts are often rooted in unclear accountability and authority for the C-level, vice-presidents, managers, supervisors and front line producers. This creates significant performance and execution problems throughout the organization.

Elliot Jacques, in his numerous publications defined accountability and authority for management at all levels. Accountability and authority establishes where people stand with each other.  They determine who is able to say what to whom, and who under given circumstances must say what to whom.  They establish who can tell who to do what, especially, in the managerial hierarchy, if one person is being held accountable for what another person does or for the results of what the other person does.

Accountability and authority define the behaviors that are appropriate and necessary in the vertical relationships between managers and their subordinates, and in the horizontal, cross-functional relationships between people.  The vertical relationships are the means by which the work that needs to get done is assigned, resourced, and evaluated; cross-functional relationships are the means by which the flow of work across functions gets processed and improved through time.

He noted that it is absolutely imperative that organizational leaders be clear not only about their own decision-making accountability, but they must also make it equally clear for each and every manager below them in the organization.  All of these managers must also meet regularly in two-way discussions about major issues with their immediate subordinates, in order to get their help in making decisions for which the manager alone must be accountable.  In discussions between managers and subordinates, it is always the manager that is ultimately accountable for decisions.  Even when the subordinate has more knowledge than his or her manager on a given matter and tells the manager what he or she thinks should be done; if the manager accepts the subordinate’s view then it becomes the manager’s decision. There will be times in an organization’s growth or life span when a manager may have multiple roles/levels that they are accountable for. The manager may be a manager, a supervisor and a front line producer on a given day if the department or work group is small enough or does not have the resources to accommodate separate levels and roles. This is a situation referred to as “down in the weeds”, “wearing many hats”, or “collapsed strata (time span).” This is not ideal; however, at times it may be the best we can do.

How does your organization define accountability and authority at each role? What impact has the clarity or lack of clarity had on your organizations effectiveness and performance?

Have a day filled with equanimity,

Robert A. Mines, Ph.D.

CEO & Psychologist

Mines and Associates

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Psychology of Performance – 15 Business Unit Effectiveness, Management and Leadership

How effective are your various business units?

What are your performance indicators?

Do each of your employees get held accountable for the results or just the managers?

All businesses and organizations get to address these questions and do their best to implement solutions depending on the answers. Elliot Jacques and Stephen Clement wrote an especially helpful book, Executive Leadership, which addresses these questions and many more. This posting will address a few of the many nuggets in their book.

One of the recurring BizPsych questions we get to answer and intervene on relates to individual differences in performance.  Jacques and Clement argue that role theory accounts for performance more than individual differences such as personality. They add that people perform to their role in very predictable ways. There is a significant amount of social psychology research to support this. Yet in many businesses, individual personality characteristics are looked at for explanatory hypotheses related to performance over clarity of role. Role clarity for a manager – from Jacques and Clements point of view – would include an adequate organizational design, an assumption that the manager has the knowledge, skills, commitment, values of the organization, and cognitive complexity to do the functions of the role. In the role of manager they would  have formal accountability for results and authority to allocate resources including staff, budget, and decision capability related to the complexity of the  tasks in their role. In addition, they have the interpersonal skills to develop a team of people who think they add value as a manager and are enthusiastic about accomplishing the goals of the business unit. The role clarity for a manager includes organizational support to veto an appointment (their manager has the authority to fire the employee if no other suitable position can be found), decide task assignment, decide personal effectiveness and merit awards, and decide to initiate removal from a role.

If the above conditions are satisfied, Jacques and Clements would predict a higher performance level from that business unit versus those that have role confusion. In our BizPsych division we encounter organization after organization that are addressing these topics in their design. If it comes to dealing with human performance, we are all in continuous recalibration mode.

Have a day filled with loving kindness,

Robert A. Mines, Ph.D.

CEO & Psychologist

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Psychology of Performance – 14 Negative Emotional States

When you allow your mind to focus on negative emotions does your performance improve or deteriorate?

Negative emotional states arise from expectation violations and then get potentiated by adding judgments about the negative feelings. Does “whipping yourself” help you improve? I had the opportunity to play in the DAD’s day (Dollars Against Diabetes) golf tournament sponsored by the Colorado Building Trades today. Golf is a wonderful laboratory in which there is a richness of self-talk, expectations, and emotional states  available to observe in myself and others. A feature of golf is that each shot actually is independent of all of the other shots one makes (much like many aspects of our work). As we let our self-talk build, it can decrease performance; but, the mind has a wonderful ability reset itself in the moment and let go of the thoughts about the previous shot. Practicing a mindfulness meditation technique of just observing the thoughts, feelings, and physical experiences without judging them and then visualizing the shot (performance) you want can go a long way in improving your performance.

This works in the rest of our life as well

It requires gently returning to this technique each time as the old thought habit patterns return with force until you learn to to redirect and focus on the outcome you want, not the outcome you do not want.

Have a day filled with mindfulness,

Robert A. Mines, Ph.D.

CEO & Psychologist

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Psychology of Performance -13 Too Many Hats!

In BizPsych we often run into CEO’s, VP’s, Managers, and Supervisors who have performance problems related to “wearing too many hats”.  Elliot Jacques’ work described a variety of systems and organizational design problems that resulted in inefficiencies, interpersonal problems, bottlenecks, and other performance issues. When a person is “collapsed down” or in the weeds, which means they are below their role in a business, higher-priority strategic thinking, decisions or actions can be neglected or result in outright failure. Wearing multiple hats means that none of the roles assigned to that person will get full-time attention. In smaller businesses this may be a “sweat equity” issue, however, the results are still the same. I encourage you to look at your position, how many roles do you have and what is the performance result?

Have a day filled with Equanimity

Bob

Robert A. Mines, Ph.D.

CEO & Psychologist

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Psychology of Performance – 12 Role and Performance

The social psychology of role has been extensively researched in psychology. Elliot Jacques in his book, Social Power and the CEO, discussed how role in organizations, clarity regarding accountability and authority, and cognitive complexity (Jacques refers to it as strata) account for higher performance more than other constructs such as personality, motivation and so forth. In addition, role is more predictive of behavior than the previously mentioned constructs.  Role is defined in Jacques’ business applications as front line producers, supervisors, managers, vice presidents and CEOs. Those with the budget authority are accountable to the level above them. When roles are collapsed (one person from a higher role also functioning in a lower role) performance can suffer in the organization due to a number of issues that arise such as “being spread too thin”, confusion from subordinates regarding which role, therefore, which authority their boss is operating from, which accountability should be assigned to the person by upper management, having title with no authority (e.g., being a director, an assistant vice president, assistant medical director, captain in a fire department (leads the team, no authority to deselect, veto a new hire, no budget). These problems result in inaction, misallocation of resources, consensus decision making (one of the worst ways to run a business as decisions are political, not informed per se for better business results), poor morale on the part of those who appear to have authority and do not, yet are still held accountable for results. There are many other problems in ill defined vertical accountability and authority. The senior staff in the MINES BizPsych division regularly consult on managerial hierarchy and organization design problems related to the above problems.

 The second area that is associated with numerous referrals relates to cross functional (dysfunctional) communication between departments related to accountability and authority. I will address this topic in my next blog.

Have a day filled with clarity in your role (s)!

Bob

Robert A. Mines, Ph.D.

CEO & Psychologist

MINES and Associates

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Psychology of Performance – 11 What happens when the C level is impaired?

As a business psychology firm, we get to consult and intervene with top performers in the C-Suite whose performance has dropped. There are many factors related to the performance drop. For this blog I am addressing those at the C level who are using enough alcohol that it affects their performance in overt and subtle ways. More than two drinks a day puts a person at risk for health and behavioral problems. It is not uncommon for one a C level person to get referred to us who is drinking 4-8 oz of alcohol per day and they report that they do not have a problem. How this shows up at work comes in the form of “fuzzy thinking”, just not as sharp as they used to be; missed deadlines (which at this level can be disasterous for the company; health markers deteriorting, which creates succession concerns; interpersonal behavior becomes unskillful or unwholesome such as kissing employees who do not want to be kissed, irritable outbursts, avoidance of difficult decisions; behavioral risks such as driving while under the influence, emabarrassing the organization at public functions. The costs to the company and the individual can be enormous. The good news is that the majority of alcoholics who are employed can get into treatment, return to sobriety and regain their previous level of performance. The motivation to get into recovery is provided by the employer requiring them to get help or lose their job. We have seen many successes. If you think you may fit any of these descriptions please contact your employee assistance program or if you do not have one, call us, we will help you get treatment.

Remember, I like you.

Bob

Robert A. Mines, Ph.D.

CEO & Psychologist

Mines and Associates

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Psychology of Performance – 8

As the new year approaches, this is often a time for people and organizations to review their performanace in the past year. How did you do compared to the goals you set? What did you do? What did you accomplish? What factors are interdependent with your success? What factors were interdependent with under performance or failure? What psychological autopsy do you need to do on the outcomes that were less than optimal as well as the successes? This might include a review of your assumptions, skills, systems, strategies, tactics and the “messiness” factors associated with resources, people, external events, internal events, resiliency and execution. The adherence and relapse information is also relevant on this point. The outcome is to learn what you can and move on in 2010 with a higher probability of success.  Where your mind goes, the energy goes…so set goals that are worthy of your attention and your organization’s attention.

Have a Happy New Year filled with prosperity, optimal health and equanimity.

Robert A. Mines, Ph.D.

CEO & Psychologist

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Balancing Work and Life

Going from being a full-time student to being a full-time employee has been quite the transition over the past couple of months. With graduation just around the corner, I am now beginning to see that my life is headed for some big changes. While school felt like a full-time job, classes were spread out and my schedule was far more flexible. Now that Monday through Friday is fully scheduled, I have realized that balancing work and life is feeling more important than ever. Finding time for family, friends, and relaxation is not always easy, but the good news is that it’s possible. The following article from http://topten.org/public/BI/BI103.html presents some helpful steps when it comes to finding some middle ground between work and personal life.

There is no single formula for attaining a balanced life. It is a personal decision how one combines their career, spouse/significant other, children, friends and self into an integrated whole. The key is to develop creative solutions as you approach the challenges of balancing the responsibilities and joys of your multiple roles. Some of the same skills and strategies you use at work such as planning, organizing, communicating, setting limits and delegating can be used effectively on the home-front for achieving a satisfying, fulfilling well-balanced life both personally and professionally.

1. BUILD A SUPPORT NETWORK

Ask for help and allow yourself to be helped and contributed to. Get your children involved–work together as a team. Recruit friends, family, neighbors, bosses, work colleagues, etc. and ask for their support. Create back-up and emergency plans; always have a contingency.

2. LET GO OF GUILT

Guilt is one of the greatest wastes of emotional energy. It causes you to become immobilized in the present because you are dwelling on the past. Guilt can be very debilitating. By introducing logic to help counter-balance the guilt you can stay better on course.

3. ESTABLISH LIMITS AND BOUNDARIES

Boundaries are an imaginary line of protection that you draw around yourself. They are about protecting you from other people’s actions. Determine for yourself what is acceptable and unacceptable behavior from other people. Boundaries and limits define how you take charge of your time and space and get in touch with your feelings. They express the extent of your responsibilities and power and show others what you are willing to do or accept. Without limits it’s difficult to say “no”.

4. DETERMINE YOUR OWN STANDARDS

Get rid of the notion of being a perfectionist. Wean yourself off it by making compromises–figure out where the best places to make the compromises are without short-changing yourself, your spouse, your children, your boss, etc. Live by your own standards rather than someone else’s. Standards are about YOU and refer to the behavior and actions you are willing to hold yourself to.

5. CREATE TIME FOR YOURSELF

Being a good parent, partner and professional means being good to yourself first. Use your mind to make some affirmations for yourself. Find ways to relax, relieve tension and minimize stress. Taking some time off for yourself will not only benefit you, but it will benefit your family tremendously!

6. GET ORGANIZED.

Set priorities, work smarter not harder, delegate (and really let go!). Create lists and save them for re-use. Keep a main calendar centrally located to post everyone’s activities.

7. BE FLEXIBLE

Forgive yourself when things don’t get done. Understand that with children things change at a moment’s notice. Be ready and willing to assume responsibility for any of the tasks that need to get done at any time. Never get too comfortable, because as soon as you seem to get things under control, they change! Also, realize that in order to achieve success many women have had to give up their original goals and substitute new ones with different but equal challenges. Negotiate for what you need.

8. ENJOY QUALITY FAMILY TIME

Spend quality/focused time with your family. Give them your full attention. Develop rituals you can all look forward to. Create relationships with your spouse and children that are not incidental but rather instumental to your success.

9. FIND RELIABLE CHILD CARE

Leave your kids in capable hands. Find someone you feel comfortable and confident in. If you’re feeling ambivalent about working or about leaving your child, etc. do not show it–your child (at any age) will pick right up on it. Feel proud when you’ve found someone who fits into your needs. Get involved with your child’s care providers by communicating frequently and observing interactions between caregiver and your child.

10. ACHIEVE AN INTEGRATED LIFE

Keep things in perspective. Create harmony in your life–a mixture of work, family and friends. Remember, there is no single formula for balance. It is a personal decision how one combines spouse, children and career.



About the Submitter

This piece was originally submitted by Natalie A. Gahrmann, M.A., Success Coach and Workshop/Seminar Leader, who can be reached at coachnatalie@rcn.com, or visited on the web. Natalie A. Gahrmann wants you to know: N-R-G Coaching Associates was founded to guide
professionals who have a career plus kids in creating a life that is more balanced, fulfilling, satisfying and successful. We are dedicated to helping working parents achieve work/life mastery. To subscribe to a free weekly newsletter for working parents, send a blank email to workingparenttips-subscribe@egroups.com.

 

Sarah Kinnel

Marketing Assistant

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