Connecting the Fiscal Puzzle: Achieving Accountability Piece by Piece

There are a lot of factors that go into the fiscal health of an organization. Like some gigantic puzzle, if you’re even missing just a piece—let alone a number of pieces—the picture doesn’t look right. But we’re just talking puzzles and pictures here. No big deal, right?

Wrong. It can be a really big deal because, if your fiscal process and the elements that support it are missing or performing poorly, such shortcomings can wreak havoc on other systems within your organization and put the entire company’s bottom line in jeopardy.

So what can you do to maintain fiscal health that’s robust and supportive of your organization? The answer lies in one powerful word: Accountability.

When you raise the relevance of fiscal accountability within your organization, you’re not only saying money matters but you’re empowering your people to take ownership of the bottom line, company health, and the security and safety of the entire organization at large (not just the financial aspects of it). So where do you start? How do you grow fiscal accountability within the organization and reinforce and sustain both a smart, strategic approach and strong numbers?

Know and communicate your goal. If you don’t speak up about what financial goals you have and what it takes to get there, your people aren’t going to know it either. Make sure to communicate the “why” behind the financial goals you, your leadership and/or other key decision-makers have set. Explain the impacts of those goals—for example, greater ROI, more investments in innovation and resources, and stronger salaries, wages, benefits and rewards. When people know the goal and why it’s important to not just the company but also their professional and personal interests, they’ll be more likely to engage around any expectations tied to that goal.

Engage people on a plan. Get feedback, do your research, and involve your team and direct reports in the activity of creating an action-oriented plan that will build accountability. This isn’t always an easy feat, which is why many organizations bring in business development coaches or consultants to manage a customized planning process, get all the right details, and align and engage the people in developing a plan they will truly embrace and execute.

Trust in the accountability that’s set. Our research at MAP has shown time and time again that even if people push back or resist change initially, they really do want to be held accountable. What’s more, they work harder and smarter, thriving when the accountability is getting clear results and propelling the organization and culture into a healthier, more sustainable and rewarding state. So don’t fear accountability and the decision to put a system in place that demands it. As long as you’ve got the right people on board, in the right positions, and performing with the right goal-oriented intentions, you will find fiscal accountability, as well as other types of accountability, a win-win for all.

Since 1960, MAP Consulting has helped over 15,000 companies and 170,000 leaders develop customized accountability systems that deliver groundbreaking fiscal results. Take action and learn more about our accountability and planning solutions today! Contact Us.