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Lack of communication biggest management mistake, CFOs say

CFOs can keep employees content through communication and praise, a new survey

A good CFO can avoid management missteps by keeping his or her accounting team in the loop, according to the results of a recent survey from financial staffing firm Accountemps.

Lack of communication between staff and management is the biggest mistake executive officers make when managing their companies, said 41 percent of chief financial officers surveyed for the report.

"Employees want to be kept in the loop and feel appreciated," said Max Messmer, chairman of Accountemps. "An organization can only be successful if its employees have the information and support they need to do their jobs well and a forum for two-way communication."

To help employees stay informed, CFOs should regularly update staff on the company's financial situation, as well as projects and initiatives that may affect the staff. Frequently engaging with the staff, from checking to see if they have everything they need to asking their advice on ways to improve the company, can help them feel like a part of the team.

Management should also recognize the value of saying thank you. The second most common mistake cited by CFOs was lack of recognition or praise.

It's no surprise to many managers that employee satisfaction goes a long way toward improving performance and increasing productivity. In addition to open communication and regular praise, managers should create a friendly work environment where employees can feel comfortable. Even simple things like a clean, well-maintained office and good heating and air conditioning can make employees feel happy coming to work.