Bohemia, NY (PRWEB) September 19, 2013
Lawrence Teicher, the founder of CFO Consulting Services, LLC, responds to an article published by Inc.com on September 5th regarding the importance of tracking financial growth in small businesses and cutting employees that are considered dead weight.
According to the article titled, “Who’s Holding Your Company Back?” the future of most organizations and companies depends on its employees. Employees can “either lead your business toward success or inhibit it,” the article says. While many companies seem to use annual reviews to see where employees need improvement, the article says there are better ways to gauge whether or not some employees actually add some value to the company.
Lawrence Teicher, founder of CFO Consulting Services, a company specializing in part time CFO services, says one of the most important aspects of running a business is making sure resources are not being misused and that employees are actually providing value. However, he says that many small businesses fail to make these assessments. “In order to ensure that your company is productive and providing an extraordinary customer service experience , it’s often necessary to cut off the dead weight,” he says. “Employees who do not contribute or lack motivation can be a real lag on the success of the company. In order for financial growth, these type of employees need to be terminated. Reviews need to be objective and honest and employees that have the requisite attitude and abilities need to be provided the training and resources needed to succeed. If your company is in financial trouble, an immediate assessment of all your employees may be required.
Teicher says many business owners might have a hard time letting go of certain employees. “When working at a small business, employees and managers form close relationships,” he says. “Sometimes it can be hard to let go of an employee you know on a more personal level. However, business owners need to make appropriate decisions for the future well fare of the company. This means firing and hiring the necessary personnel. Once you feel like an employee is slacking and holding you from success, it’s time to make a change.”
CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.