Maybe I’m old school but I believe at times, there is just no substitute for hard work. One of the ways I relax is doing some yard work or other minor house projects. Afterwards, I have a sense of accomplishment. Paradoxical to some, but for me it works (excuse the pun).
Sure, I’m all for working smarter not harder (if and when possible). A few weeks ago I was raking leaves in the front yard and heard a leaf blower that sounded like it was coming from my back yard. It was my neighbor lending a hand with a tool that was far more efficient than either my rake or little electric leaf blower. So yesterday, driven by the fact that I now had a case of leaf blower envy and 100% of the leaves from my Ginkgo tree fell at one time, I purchased the same leaf blower as my neighbor. At times, the rake is still more efficient, but it’s a useful tool.
That said, there are times when you just have to grind out the hours in order to get the job done. I was recently talking with a friend who runs al CPA firm and we were talking about the number of days our kids had off from high school. It seems that five day weeks are more of a rarity than a standard. “No wonder I can’t find people willing to work the busy season”, he said.
I know of several companies who are very proud of their low employee turnover rates. Given the relaxed work schedule, I’m not surprised by the stats. They tend to have generous work from home policies (which leave management questioning just how much work is actually getting done from home), various initiatives that consume work hours with employee welfare and social benefit programs, as well as vacation time that exceeds others in the marketplace. Another characteristic they share is declining profitability levels. That’s not good.
Is this representative of the overall lowering of previously accepted standards? I tend to think so. One can see examples of it in the military, fitness standards in grade school, and the general “convenience” society in which we live.
Whatever the reason, the pendulum has definitely shifted in recent years in favor of the employee, but I question the long term sustainability of such programs. When profit levels decline (whether in a private or public company) there is pressure to restore them to previously acceptable levels. In the current environment, that’s likely to mean the trimming of staff either through subtle attrition or more noticeable layoff programs.
And while averages may be lower and standards may have fallen for most over the decades, paradoxically, standards for the elite have gone the other direction. Olympic athletes can swim faster, lift more, and jump further than in decades past. In athletic endeavors, the competition is fierce.
So, back to business. If you’re an employer, how long can you tolerate lower standards before a rival overtakes you and causes serious (perhaps irreparable) harm to your business? If you’re an employee, ask yourself if you’re the one at risk when the pendulum swings back (as it most assuredly will)?
If your business could benefit from fractional CFO services, I would welcome the chance to speak with you. Please give me a call at (314) 863-6637 or send an email to [email protected]
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your cash is flowing. know where.®
Ken Homza
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