Work-life balance as a Chief Financial Officer Newton is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).
Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Chief Financial Officer Newton from never-ending workday is damaging. It can hurt relationships, health and overall happiness.
Building a Customer Centric Culture
The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.
When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.
Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.
Look at how times have changed. There was a time when the purpose of having a contract between vendor and a vendee was simply to establish the terms of their relationship and the manner by which prospective business relationship is to be conducted. Remember the old days of a deal with just a handshake? How about "my word is my bond"? Those days are long gone and one must protect the company from any shady deals.
As soon as the terms of the contract are spelled out which are simple, concise and straightforward, you are ready to affix your signature and seal the agreement. That is basically contract management in a nutshell.
However, if you are talking of software license agreements, things will be quite different from your conventional contracts and the application of the principles related to vendor management will have a different complexion. If you are availing of one of these software packages which are governed by license agreements then it is essential that you spend a moment to study the fine prints of the terms and conditions as it is important that you understand every detail of its provision. This is how the principles of contract management are applied under agreements involving the purchase of software packages.
An effective contract management involving software packages will require you to focus on the prices and other legal provisions that are included in the agreement. The price is usually cited in the legal disclaimers about system performance and quality. This section of the contract is an essential component and it is important that you analyze if you are satisfied would this kind of relationship as what is indicated is what you will receive and nothing more. In your approach for relevant principles and techniques of vendor management, it is important that you are aware of what the vendor commits to provide you and the legal remedies available to you in case of disputes and disagreements.
It is imperative that you consider all provisions including those outside the contract price and major legal issues. If you feel that the contract presented by a vendor seems to be disadvantageous or deficient in substance in protecting your interest, the problem is not in the contract. There are some things that you might have missed during the negotiation that preceded the contract. Most of us have the tendency of focusing our attention on the more obvious aspects of the transaction and leave everything to the lawyer. In the end, we find ourselves with a contract which does not meet our expectation. In most cases, what we have as a contract is deficient or lacking in provisions on compliance to schedule, performance of the vendor and cost control.
So, what are the important things that you have to tackle in a negotiation? Obviously, you will have to agree on the contract price of the software package. Over and beyond the price consideration and other related issues, you have to focus extensively on the functionality and support services that you want the vendor to provide under the proposed agreement. You should remember that what is being sold is a collection of ideas and not a tangible and physical product. Its importance is determined by product's ability in providing the functionality that you need within a specified time frame and with the level of quality that you can not achieve using your existing manpower and capabilities.
There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.
Maslows Marketing Filter
Empowering employees like Chief Financial Officer Newton to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.
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A recipe for successful outsourcing
Success in business relies as much on relationship management as anything, and when it comes to outsourcing this axiom certainly holds. The best outsourced team in the world cannot deliver excellence if projects are "thrown over the wall" with little communication or understanding between the parties.
You would think those of us in the IT world would know this by now.
After all, managing outsourced relationships has been a topic of articles, blogs and conversation since the nineties. Relationships are clearly NOT easy, which explains why everyone from Dear Abby to this newsletter keeps talking about how to handle them.
People naturally develop and work through relationships, but organizations seem to lose that ability. Between planning, flow charts, deadlines, etc., we forget that every project comes down to the people involved. And people are, well -- human. They need to be engaged and involved in their work. They need to feel like a vital part of the team and solution.
Bruce A. Stewart, management advisor and former columnist for Computerworld, wrote that: "Most companies put little time or effort into these (outsourced) relationships..." Yet outsourcing continues to grow, and, Stewart says, "Learning how to deal with the changes outsourcing brings can actually work in our favor." Stewart's article, reprinted on CIO.com, goes on to identify ways to optimize outsourcing relationships.
Our experience has shown a recipe for outsourcing success that closely parallels Stewart's suggestions, and goes a bit further by incorporating accountability as well.
Tips for Successful Outsourcing
- Formalize the outsourcing relationship - Create an organizational chart that shows who reports to whom within the scope of the relationship, and how teams and people relate to each other. Use Skype or other methods to meet regularly, share ideas and celebrate successes. Develop contacts deep into each organization so that cultural understanding is not isolated to just a few people.
- Commit to the relationship - Stewart rightly points out that commitment can only come with trust, but he also notes that, "... a failure to commit shows up as a lack of success--on both sides of the table." He suggests that companies determine upfront that they are committed to establishing trust, and work from there. What you want, ultimately, is an outsourced team that understands company objectives and can contribute initiatives and knowledge.
- Insist on accountability -- on both sides of the relationship - When given ownership of a project, people take responsibility for it.
- And with responsibility comes accountability. High-performing teams set guidelines and deadlines, and hold their members accountable to these. When practiced this way, accountability becomes an integral and positive part of team culture - not something that has to be constantly enforced from the top.
- Focus on the long-term - There will always be short-term obstacles and set-backs. A good outsourcing relationship can survive these when internal and external team members are committed to the same long-term goals and expectations. As long as these continue to evolve together, the outsourcing team remains valuable, bringing its own history and knowledge that contribute to the bottom line.
When a Chief Financial Officer Newton spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.