Creating Openness in Problem Solving

TAMPA, Fla., June 23, 2014 /PRNewswire-iReach/ -- "The best time to address problems is earlier rather than later," says Emerge180's CEO Jonathan Field. Emerge180 partners with small and medium-sized companies for debt turnaround when financial disaster looms.

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Proactive policies can minimize accelerating debt crisis. Acquiring help from professionals makes sense. Solutions may come from within the company and from outside sources. Reshaping company policies regarding mistakes and problems can help correct an unhealthy money climate. While a professional can help with existing debt, the company should re-evaluate practices that may have contributed to the current problems.

Handling Mistakes and Problems

Include staff members in examining business processes. Establish the practice of treating mistakes as learning opportunities. Make it more acceptable to own a poor decision rather than hide it. Let it be clear the goal is to benefit the corporation not denigrate the employee. In the same way that delaying negotiations with creditors may lead to additional charges, skirting constructive change may prove costly.

Be aware of the vocal tone used to address issues. Note the body language that accompanies the discussion. Is the conversation undertone adversarial or solution oriented? There's a time to expect acknowledgement of blame and a time to move on with a new plan. Seek to clear the air and then follow through with an adjusted agenda. Be objective and even tempered. In rare moments, when the owner needs to acknowledge flawed judgment, see it as a way to model a positive reconstruction.

Use statements like, Lets analyze how this happened.  What decisions or procedures would eliminate or reduce the problem in the future?

Discourage blame shifting. People make mistakes. Poor judgment can be expensive, but not facing it escalates the cost. Find the source and adjust.  Is it from lack of attention to details? Is the process flawed? Do employees have a fuzzy concept of who is supposed to do what?

Create A Buy-In Atmosphere

When working on fixing financial problems, create a "buy-in" atmosphere. Cutting back and conserving funds creates a degree of stress for everyone. While repairing the company finances, keep the employees suitably informed and seek their input when appropriate. They will be more committed to necessary changes if they are permitted to voice ideas. Validate their suggestions even if they aren't able to be used. Value the employees' problem solving opinions.

When the recovery is successful, consider bonuses to reward the whole team proportionate to position and income.

About Emerge180

Emerge180, a national firm based in Tampa, Florida, has been helping businesses avoid financial disaster since 1993. As experts in creditor negotiations and tax resolution services, Emerge180 helps businesses work through financial crises, and creates plans that re-position their clients for success. An A+ Accredited Business with the BBB, Emerge180 has facilitated the financial turnaround of thousands of companies…and, in so doing, the preservation of tens of thousands of jobs. 

Media Contact: Media Relations, Emerge180, 1-800-805-1138, [email protected]

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SOURCE Emerge180