Executive Services Firm Tatum Offers Top Recommendations for CEOs and CFOs
ATLANTA—As the economy improves and executives seek to move forward with strategic plans, employee retention should be one of C-Suite’s key objectives, according to top partners of Tatum, the nation’s largest executive services firm.
Employees who have endured the stress and strain over the last 18-24 months may be looking for a fresh start, while companies seeking to expand will be raiding staffs riddled with professionals eager for change. Making strong efforts to retain core personnel, particularly those who are instrumental to the daily operations or the growth plans of the company, should be the number one priority for C-level executives in the coming year, according to Tatum.
Tatum’s CFOs and CIOs agree that in the current skittish economy, paying attention to human capital is critical for success.
“CEOs and CFOs should take a long hard look at both retaining and recruiting the right team to deliver on 2011 plans,” said Dick Hissam, National Managing Partner of Executive Services for Tatum. “The world has changed dramatically and now is the time to develop a human capital strategy that helps the organization stay nimble and competitive.”
“Companies that have survived rounds of staff reductions need to pay special attention to ways to reduce workload stress such as, better use of technology or flex staffing to reduce burnout,” noted Hissam. “Many companies performed a layoff quickly without streamlining processes, which makes the organization more vulnerable to staff turnover.”
In addition to improving employee satisfaction and rewarding exceptional performance, Tatum’s top partners identified four other important goals for CEOs and CFOs in 2011.
- Look beyond the numbers and build a culture that fosters innovation, change, and customer focus. Look to improve customer service and build brand loyalty.
-Stop placing blame on outside influencers like government and the economy. Push the excuses aside to create a proactive, positive environment ready for success.
-Assess systems and IT infrastructure already in place to see if they can withstand plans for 2011. Do they need to be upgraded to help position the company for growth or can they be re-engineered to maximize to capacity what is already in place? Don’t forget to look to explore the cloud when refreshing technology.
- Focus on the top line again, investing strategically in growing revenue. After dedicating the last two years to cost reduction efforts and productivity maximization, now is the time to be proactive for long-term objectives, rather than reactive for short-term needs. Understand the notion of profitable growth (not just growth for growth sake) and containing costs along the way.
“Convince yourself and then your employees that you have survived the worst and be positive about your company. It’s now time to adopt the old maxim: ‘look at the glass half full.’ If you do, you will begin to see more profitability and emerge a stronger company,” said Hissam.
About Tatum
Tatum is the nation’s largest executive services firm, with 37 offices nationwide. Tatum helps top executives in the C-suite resolve strategic, financial and technology challenges, with particular focus on supporting the Office of the CFO. For more information, visit www.tatumllc.com. Tatum is a division of SFN Group, Inc. SFN operates a family of specialty businesses providing strategic workforce solutions in professional services and general staffing.