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Rachel Reardon

Creative Director | Small Giants Community

March 4, 2019

Do your employees speak business?

With more and more purpose-driven companies opening their books to employees and practicing financial transparency, there is a growing need for financial literacy in all levels and disciplines within a business. 

The first step to growing a financially literate workforce is making sure you're all speaking the same language. When you reported on last month's revenue, did your employees really understand? How about when you mentioned that bonuses are based on your EBITA? Beyond just vocabulary, do your employees have a clear understanding of how their day-to-day work impacts the numbers? 

Understanding the stories behind your business' numbers arm your team with the information they need to make smart business decisions. 

A purpose-driven leader's role is to help all employees understand the numbers and feel empowered to impact them. 

We talk to a lot of amazing Small Giant companies, many of which practice open book management. For those that don't, the number one hesitation we hear is that if employees have access to in-depth financial information, they won't understand what they're looking at. We strongly believe that a purpose-driven leader's role is to help all employees understand the numbers and feel empowered to impact them. 

But don't worry, we're here to help with that! Check out this month's resources all about teaching your team the numbers: 

Finance Terms for BeginnersFinancial Terms for Beginners Worksheet

Share this worksheet with your team for a crash course in common financial terms. Through the story of a lemonade stand, your employees will learn about revenue, COGS, gross profit, net profit, gross margin, and the difference between a balance sheet and income statement. Complete the form below to download.


 

 

Steve Baker

Opening the Books is Only the Beginning Webinar

In this Fishbowl (a.k.a. webinar!), Steve Baker, Vice President at the Great Game of Business, will walk us through exercises you can use with your team to teach basic financial literacy and how to use that knowledge to make better business and personal decisions.  

 SIGN UP

 

 P.S. We believe anyone can learn to understand the numbers. To put our money where our mouths are, these resources weren't developed by accountants or leaders with finance degrees. The humans behind these resources have degrees in creative writing and French literature — their financial knowledge comes from working within financially transparent organizations.

Want to give your employees a crash course in financial vocabulary? Or need a quick refresher yourself?

Download and share this Financial Terms for Beginners worksheet with your team. 

Download the Worksheet

About Rachel Reardon

Rachel turns caffeine into beautiful things. If she’s not elbow-deep in an Illustrator file, she’s probably planning out the Small Giants Community’s next 10 years in a color-coded Google Doc.