What is the cost of a losing one employee? In concrete terms, according to the Society of Human Resource Management, losing a young professional employee can cost an organization between $15-25,000. However, that is a conservative estimate. If the organization wants to find and train a replacement, that number will increase to 6-9 months of their salary. And, as the professional becomes more skilled and entrenched, that dollar amount grows.
Most business owners view the sale of their business as the financial reward for their years of hard work and dedication to their passion. In many transactions, a business owner may want to keep a minority equity stake (for example, 10%-49% ownership retained post-transaction) in the business to participate in potential future growth and demonstrate to the buyer that they still have “skin in the game”.
As new business models evolve while whole industries develop and destruct in shorter and shorter time spans, the concept of finance transformation to help leaders chart the course of their future has sprung up.
While there are a lot of discussions about good analytics, how do we recognize bad analytics? Bad analytics is more than not having good insights. Bad analytics is present when our work doesn’t support evidence-based and data-driven decision-making (3DM) for improved business performance. So, unless one can identify bad analytics within a company, it cannot be prevented. Here are 11 key characteristics of bad analytics.
Andrew Codd, the Founder and Lead Producer of The Strength in the Numbers Show, joined us on CFO Talk to share a side of him his audience doesn’t see very often; his role leading a global data analytics team. His story includes a childhood dream of being a navy fighter pilot that was replaced with a desire to learn more about business after his first job in sales.
