1
00:00:00,000 --> 00:00:19,520
Hi and welcome to Be The Flagship with our podcast host Jeff Parsons.

2
00:00:19,520 --> 00:00:23,280
This is where we tackle the day-to-day talent management challenges you face.

3
00:00:23,280 --> 00:00:25,040
And now over to our host.

4
00:00:25,040 --> 00:00:26,480
Take it away, Jeff.

5
00:00:26,480 --> 00:00:28,960
Hello and welcome to Be The Flagship.

6
00:00:28,960 --> 00:00:37,040
I'm your host Jeff Parsons and today is episode two of our series Finance and Operations where

7
00:00:37,040 --> 00:00:43,960
we discuss the role of finance in supporting the operational excellence and business success

8
00:00:43,960 --> 00:00:51,280
for organizations and continuing our discussion today with our guest speaker Jeff Smith.

9
00:00:51,280 --> 00:00:58,220
So Jeff, thank you for joining us again today and for continuing our discussion on the role

10
00:00:58,220 --> 00:01:01,680
of finance and operations.

11
00:01:01,680 --> 00:01:03,640
Glad to be back.

12
00:01:03,640 --> 00:01:09,120
So Jeff, in last week's episode we talked about the importance of financial education

13
00:01:09,120 --> 00:01:10,400
in organizations.

14
00:01:10,400 --> 00:01:16,560
We talked about the role of finance and how finance adds value to organizations and contributes

15
00:01:16,560 --> 00:01:18,700
to organizational excellence.

16
00:01:18,700 --> 00:01:22,560
We talked about budgeting and forecasting and some of the critical things to keep in

17
00:01:22,560 --> 00:01:23,560
mind there.

18
00:01:23,560 --> 00:01:31,200
We had a discussion on cost management, on financial metrics, on capital allocation and

19
00:01:31,200 --> 00:01:32,880
we left off there.

20
00:01:32,880 --> 00:01:38,960
And so what I'd like to do is pick up our discussion this week and start with the role

21
00:01:38,960 --> 00:01:42,600
of finance in risk mitigation.

22
00:01:42,600 --> 00:01:44,240
Tell me about risk management.

23
00:01:44,240 --> 00:01:46,560
You hear the term.

24
00:01:46,560 --> 00:01:52,860
There may be some listeners or operational leaders out there who really don't know exactly

25
00:01:52,860 --> 00:01:54,660
what risk management is.

26
00:01:54,660 --> 00:01:59,080
So from your perspective as a finance guru, tell me about risk management.

27
00:01:59,080 --> 00:02:05,800
What is it and what's the role of finance in identifying and mitigating operational risks?

28
00:02:05,800 --> 00:02:07,000
Yeah.

29
00:02:07,000 --> 00:02:13,880
So risk management again is on several different levels.

30
00:02:13,880 --> 00:02:23,120
And so from a direct accounting perspective, we put controls in place to mitigate risk.

31
00:02:23,120 --> 00:02:33,400
And so things like having a sign off on your expense report is a control process to mitigate

32
00:02:33,400 --> 00:02:43,680
the risk of employees going and spending like drunken sailors.

33
00:02:43,680 --> 00:02:47,600
And spending on the wrong things.

34
00:02:47,600 --> 00:02:54,840
Having purchase orders in place is a control that mitigates the risk of buying too much

35
00:02:54,840 --> 00:03:04,200
inventory at a price that's not good for the company or buying the wrong materials.

36
00:03:04,200 --> 00:03:09,040
So you have controls in place to mitigate risk.

37
00:03:09,040 --> 00:03:17,520
And one of our jobs as accounting people is to make sure that the controls make sense

38
00:03:17,520 --> 00:03:20,960
to the risk that's involved.

39
00:03:20,960 --> 00:03:26,480
And so biggest risk is in cash.

40
00:03:26,480 --> 00:03:32,480
Every business needs to control their cash, make sure they reconcile their bank accounts

41
00:03:32,480 --> 00:03:35,140
on a monthly basis.

42
00:03:35,140 --> 00:03:45,760
Make sure that their cash is safe because that is the heart and soul of the organization,

43
00:03:45,760 --> 00:03:46,760
right?

44
00:03:46,760 --> 00:03:47,760
Right.

45
00:03:47,760 --> 00:03:59,800
Whereas things like pens and paper and lower value items don't need as much control.

46
00:03:59,800 --> 00:04:08,320
And so we have to make sure that the cost of the control is relative to the risk that's

47
00:04:08,320 --> 00:04:10,560
involved, right?

48
00:04:10,560 --> 00:04:19,440
So do I need to have a purchase order that's signed by multiple levels to order stationary

49
00:04:19,440 --> 00:04:26,040
supplies or could I just put it on a purchasing card, right?

50
00:04:26,040 --> 00:04:32,600
And so is the cost of the control relevant to the risk that's involved?

51
00:04:32,600 --> 00:04:35,280
But there's other types of risk.

52
00:04:35,280 --> 00:04:42,760
There's overall business risk that's covered by insurance.

53
00:04:42,760 --> 00:04:52,760
One of the clients that I worked for, we had to assess a worm farm because-

54
00:04:52,760 --> 00:04:54,120
Hey, wait a minute.

55
00:04:54,120 --> 00:04:55,120
Wait a minute.

56
00:04:55,120 --> 00:04:56,720
Worm farm.

57
00:04:56,720 --> 00:04:57,720
Yes.

58
00:04:57,720 --> 00:04:58,720
Yes.

59
00:04:58,720 --> 00:05:00,640
So it was a soil blender.

60
00:05:00,640 --> 00:05:01,640
Okay.

61
00:05:01,640 --> 00:05:08,960
One of the inputs is worm castings, which is worm poop.

62
00:05:08,960 --> 00:05:15,200
But what would happen if their entire population of worms died, right?

63
00:05:15,200 --> 00:05:16,720
Yeah, right.

64
00:05:16,720 --> 00:05:23,140
They would have to change their operation until they could reestablish that population

65
00:05:23,140 --> 00:05:24,480
of worms.

66
00:05:24,480 --> 00:05:33,840
And so we assessed the insurance risk of that and we assessed how much insurance that we

67
00:05:33,840 --> 00:05:40,560
needed to carry in the event that something catastrophic happened.

68
00:05:40,560 --> 00:05:47,240
So how difficult is it to get worm insurance?

69
00:05:47,240 --> 00:05:49,960
It's a form of business interruption insurance.

70
00:05:49,960 --> 00:05:51,200
Yeah, right.

71
00:05:51,200 --> 00:05:56,760
You know, something that we all carry in businesses.

72
00:05:56,760 --> 00:05:59,720
So that's another form of risk.

73
00:05:59,720 --> 00:06:12,040
And then the other form of risk that we talk about is from a project basis is identifying

74
00:06:12,040 --> 00:06:13,440
a risk register.

75
00:06:13,440 --> 00:06:19,720
And in many respects, budgeting and forecasting is a type of project, right?

76
00:06:19,720 --> 00:06:27,520
So you look at the overall project, you say, okay, if everything goes perfect, this is

77
00:06:27,520 --> 00:06:29,440
what's going to happen, right?

78
00:06:29,440 --> 00:06:30,440
Right.

79
00:06:30,440 --> 00:06:35,520
We all know that we work in an imperfect world and so things will happen.

80
00:06:35,520 --> 00:06:44,480
And so you develop this list of, okay, what could go wrong with my operation?

81
00:06:44,480 --> 00:06:51,120
And so then you identify, well, what can I do to mitigate those risks?

82
00:06:51,120 --> 00:06:57,680
And so you have this risk register and this mitigation plan, right?

83
00:06:57,680 --> 00:07:03,960
And I've seen that applied in businesses where you have several different business units

84
00:07:03,960 --> 00:07:06,840
all reporting up into a parent company.

85
00:07:06,840 --> 00:07:14,700
The parent company takes the aggregate total of all those budgets of the business units

86
00:07:14,700 --> 00:07:22,240
that are reporting up into it and then it applies this risk register of not all my business

87
00:07:22,240 --> 00:07:26,040
units are going to operate exactly as they've budgeted.

88
00:07:26,040 --> 00:07:33,840
And so they put a contingency in place so that when they're reporting to the shareholders,

89
00:07:33,840 --> 00:07:38,760
they're reporting something that's different than just the aggregate of all those business

90
00:07:38,760 --> 00:07:40,440
units budgets.

91
00:07:40,440 --> 00:07:41,440
Interesting.

92
00:07:41,440 --> 00:07:49,560
I still, I can't get this picture out of my head of a guy in overalls farming worms.

93
00:07:49,560 --> 00:07:55,400
I just, you know, I know.

94
00:07:55,400 --> 00:08:05,200
It's really interesting because the beauty of what I do is that we've talked about people,

95
00:08:05,200 --> 00:08:08,400
product and process.

96
00:08:08,400 --> 00:08:19,200
So I've worked in heavy goods manufacturing, I work in high tech and I've worked in dirt.

97
00:08:19,200 --> 00:08:24,400
And it's fascinating because you can learn so much about every business.

98
00:08:24,400 --> 00:08:26,000
So that's right.

99
00:08:26,000 --> 00:08:33,520
Again, yeah, I have similar experience in various industries and learning from those

100
00:08:33,520 --> 00:08:38,840
industries so very interesting and a great example.

101
00:08:38,840 --> 00:08:45,360
So Jeff, while I try to get worm farming out of my mind, let's take a quick break.

102
00:08:45,360 --> 00:08:50,300
At Flagship Talent, we work with our clients to find and place the right talent.

103
00:08:50,300 --> 00:08:52,160
What do we mean by the right talent?

104
00:08:52,160 --> 00:08:56,760
We mean we find talent who will commit to your organizational goals and align with your

105
00:08:56,760 --> 00:08:59,480
values and behavior expectations.

106
00:08:59,480 --> 00:09:02,020
Talent who will perform to your expectations.

107
00:09:02,020 --> 00:09:05,560
Talent who will stay and grow with your organization.

108
00:09:05,560 --> 00:09:07,560
How are we different from our competitors?

109
00:09:07,560 --> 00:09:10,400
We offer the lowest fee structure in the industry.

110
00:09:10,400 --> 00:09:13,220
We offer the best talent guarantee in the industry.

111
00:09:13,220 --> 00:09:18,060
We provide selection and interviewing support to our clients at no additional fee.

112
00:09:18,060 --> 00:09:23,200
We want to save you money, deliver high quality talent, become an extension of your organization

113
00:09:23,200 --> 00:09:27,000
and be your preferred provider of talent acquisition solutions.

114
00:09:27,000 --> 00:09:32,760
To learn more, contact Jeff Parsons by email at jeff at FlagshipTalent.com or by phone

115
00:09:32,760 --> 00:09:39,400
at 1-800-530-4189, extension 101.

116
00:09:39,400 --> 00:09:40,400
All right.

117
00:09:40,400 --> 00:09:42,340
We're back with Jeff Smith.

118
00:09:42,340 --> 00:09:51,100
So in organizations that operate on a JIT or a just-in-time approach, I would imagine

119
00:09:51,100 --> 00:09:56,320
risk management is really super important because if you have a supplier, they have

120
00:09:56,320 --> 00:10:01,600
a piece of equipment go down and they can't deliver to you when you need to deliver it

121
00:10:01,600 --> 00:10:06,520
to your customer, then you're going to shut that customer down.

122
00:10:06,520 --> 00:10:11,860
And so you have to have a plan B, maybe a plan C to make sure that doesn't happen.

123
00:10:11,860 --> 00:10:20,800
There's that trickle down effect of inventory is one of our biggest risks.

124
00:10:20,800 --> 00:10:23,640
You have so much that can go wrong with it.

125
00:10:23,640 --> 00:10:25,440
You can forget to order.

126
00:10:25,440 --> 00:10:29,660
You can have a supplier that runs out of stock.

127
00:10:29,660 --> 00:10:36,080
You can have things that are delayed in customs or you can have a quality issue, a bad batch

128
00:10:36,080 --> 00:10:37,560
of product.

129
00:10:37,560 --> 00:10:41,000
All those things can go wrong with your inventory.

130
00:10:41,000 --> 00:10:49,600
And so it's not infrequent for companies to have safety stock, especially on their critical

131
00:10:49,600 --> 00:10:56,840
pieces of inventory, because if they're missing a deadline, either the customer is going to

132
00:10:56,840 --> 00:11:02,000
go somewhere else or something catastrophic is going to happen with the customer and you're

133
00:11:02,000 --> 00:11:03,880
going to have to pay penalties.

134
00:11:03,880 --> 00:11:04,880
Yeah.

135
00:11:04,880 --> 00:11:17,200
One of the interesting things I learned earlier in my career in operations is that, and it

136
00:11:17,200 --> 00:11:22,920
certainly surfaced in the education I was providing to supervisors and their bosses

137
00:11:22,920 --> 00:11:33,120
and how cash moves through manufacturing organization is that there's a difference between generating

138
00:11:33,120 --> 00:11:37,760
cash and generating revenue.

139
00:11:37,760 --> 00:11:42,920
You can generate revenue, but again, going back to your processes and being efficient

140
00:11:42,920 --> 00:11:50,080
you've talked about earlier in the discussion, if you're receivables, if you're not receiving

141
00:11:50,080 --> 00:11:53,840
the cash, then you can have a cashflow problem.

142
00:11:53,840 --> 00:11:57,240
So you could be a successful business, but if you have a cashflow problem, you can't

143
00:11:57,240 --> 00:12:01,240
make your payroll and you can't pay your bills, you can't do those things and companies go

144
00:12:01,240 --> 00:12:04,920
under because of cashflow issues.

145
00:12:04,920 --> 00:12:11,000
Although it was a successful business as it relates to sales and that sort of thing, but

146
00:12:11,000 --> 00:12:13,000
they had a cashflow problem.

147
00:12:13,000 --> 00:12:14,000
Yeah.

148
00:12:14,000 --> 00:12:15,000
Yeah.

149
00:12:15,000 --> 00:12:16,000
Very, very true.

150
00:12:16,000 --> 00:12:23,760
And one of the measures that I didn't mention before that I really love is what's called

151
00:12:23,760 --> 00:12:27,360
the cash conversion cycle.

152
00:12:27,360 --> 00:12:36,920
Basically what it is is if I take an investment of a dollar, how long is it going to take

153
00:12:36,920 --> 00:12:40,200
me to get that dollar back?

154
00:12:40,200 --> 00:12:47,040
If you think about your three major things, your accounts receivable, your inventory and

155
00:12:47,040 --> 00:12:49,840
your accounts payable, right?

156
00:12:49,840 --> 00:13:00,440
I buy inventory and on the day that I get it, I incur accounts payable, right?

157
00:13:00,440 --> 00:13:12,000
If it takes me 30 days to take that inventory and turn it into a saleable product and then

158
00:13:12,000 --> 00:13:24,000
I sell it and then it takes me 45 days to collect down it, I'm getting from day zero,

159
00:13:24,000 --> 00:13:30,400
I'm getting 75 days to when I collect on my investment, right?

160
00:13:30,400 --> 00:13:37,880
But I've got accounts payable and say I've negotiated 45 day payments on my accounts

161
00:13:37,880 --> 00:13:38,880
receivable.

162
00:13:38,880 --> 00:13:39,880
Right.

163
00:13:39,880 --> 00:13:46,960
And now from the time that I actually paid my accounts payable to the time I collected

164
00:13:46,960 --> 00:13:50,640
on my accounts receivable is 30 days.

165
00:13:50,640 --> 00:13:51,640
Right.

166
00:13:51,640 --> 00:13:54,600
And it makes a significant tremendous impact on the business.

167
00:13:54,600 --> 00:13:55,600
It does.

168
00:13:55,600 --> 00:13:56,600
It does.

169
00:13:56,600 --> 00:14:01,840
And so if I'm in growth mode and I've got increasing sales, that means I have increasing

170
00:14:01,840 --> 00:14:11,200
inventory and increasing accounts payable, that 30 day period is going to be a huge impact

171
00:14:11,200 --> 00:14:13,440
on the business.

172
00:14:13,440 --> 00:14:20,000
So managing your cash conversion cycle and understanding how much money I'm going to

173
00:14:20,000 --> 00:14:27,840
need at my projected rates in order to fund that 30 days is really important.

174
00:14:27,840 --> 00:14:28,840
Yeah.

175
00:14:28,840 --> 00:14:29,840
Good discussion.

176
00:14:29,840 --> 00:14:39,440
You spoke about lean, you referenced lean earlier in discussion, operational efficiency.

177
00:14:39,440 --> 00:14:48,320
So in what ways can financial analysis contribute to improving operational efficiencies?

178
00:14:48,320 --> 00:14:49,800
Yeah.

179
00:14:49,800 --> 00:14:55,040
So we talked about controls before, we talked about risk management.

180
00:14:55,040 --> 00:15:04,640
One of the biggest part of the balance sheet for a lot of manufacturing companies is their

181
00:15:04,640 --> 00:15:05,640
inventory.

182
00:15:05,640 --> 00:15:14,840
And so accounting can have a direct impact on the operational efficiency of a business

183
00:15:14,840 --> 00:15:22,440
just by the way that they contribute to the controls of the inventory.

184
00:15:22,440 --> 00:15:23,440
Okay.

185
00:15:23,440 --> 00:15:33,800
In the past, accounting would shut down operations for the annual physical inventory.

186
00:15:33,800 --> 00:15:34,800
Yeah.

187
00:15:34,800 --> 00:15:41,280
A bunch of people would count all the inventory, they would input it into the business system.

188
00:15:41,280 --> 00:15:44,840
And typically those things would be wrong.

189
00:15:44,840 --> 00:15:49,760
They would introduce error into the inventory population.

190
00:15:49,760 --> 00:15:51,100
Right.

191
00:15:51,100 --> 00:15:58,920
So the key to good inventory management is knowing what you have and knowing where it

192
00:15:58,920 --> 00:15:59,960
is.

193
00:15:59,960 --> 00:16:04,880
So not only do you have to have it in stock, you have to be able to find it.

194
00:16:04,880 --> 00:16:12,800
And so when you do the annual physical inventory, things get all messed up and you don't know

195
00:16:12,800 --> 00:16:16,280
what shelf it's on and all that sort of stuff.

196
00:16:16,280 --> 00:16:19,520
It might as well not even have the inventory.

197
00:16:19,520 --> 00:16:20,920
Right?

198
00:16:20,920 --> 00:16:34,480
So a good cycle counting system can help to prevent the annual physical inventory.

199
00:16:34,480 --> 00:16:36,080
Gotcha.

200
00:16:36,080 --> 00:16:48,360
If we can put in place a cycle counting process in which you're counting your A items 12 times

201
00:16:48,360 --> 00:16:57,240
a year, your B items four times a year, your C items once a year, and you're just counting

202
00:16:57,240 --> 00:17:07,240
a small percentage of the population every day, finding the error in the inventory, identifying

203
00:17:07,240 --> 00:17:15,760
the root cause of it and correcting the root cause, you're now pushing your error out of

204
00:17:15,760 --> 00:17:20,480
your inventory.

205
00:17:20,480 --> 00:17:29,240
If you can demonstrate that your inventory is accurate through your cycle counting process,

206
00:17:29,240 --> 00:17:35,880
you can get the auditors to buy off on eliminating that annual physical inventory.

207
00:17:35,880 --> 00:17:41,040
Now you don't have the disruption of the operations.

208
00:17:41,040 --> 00:17:49,320
Now you don't have the inaccuracy that the annual physical introduces into the system.

209
00:17:49,320 --> 00:17:57,520
So now you can find your product every time and you're pushing the error out because you're

210
00:17:57,520 --> 00:18:05,740
investigating and correcting the upstream processes that are introducing errors into

211
00:18:05,740 --> 00:18:06,740
your inventory.

212
00:18:06,740 --> 00:18:08,680
That's interesting.

213
00:18:08,680 --> 00:18:14,880
I do remember the days of being on the inventory count proof.

214
00:18:14,880 --> 00:18:20,080
Been there, done that.

215
00:18:20,080 --> 00:18:23,960
War stories.

216
00:18:23,960 --> 00:18:29,880
It wasn't a coveted role at the time.

217
00:18:29,880 --> 00:18:39,080
So as I mentioned earlier, finance and accounting groups are support groups for operations.

218
00:18:39,080 --> 00:18:42,480
They support the success of operations.

219
00:18:42,480 --> 00:18:49,120
In order to do that most effectively, there has to be some degree, and you've referenced

220
00:18:49,120 --> 00:18:56,240
it several times in our discussion, there really needs to be a certain level of partnering

221
00:18:56,240 --> 00:19:00,840
and collaboration with the operational staff and team.

222
00:19:00,840 --> 00:19:08,320
I can tell from your earlier discussion that you really value being a part of the operations

223
00:19:08,320 --> 00:19:13,480
process and not just over in the corner doing bin counting and that sort of thing.

224
00:19:13,480 --> 00:19:19,420
You like to be engaged in the process and learn the process and that sort of thing.

225
00:19:19,420 --> 00:19:22,680
So how important is it really to collaborate?

226
00:19:22,680 --> 00:19:28,880
And I know it sounds like an obvious answer to it between finance and operations department.

227
00:19:28,880 --> 00:19:34,440
So how important is it in your experience and how effective has it been for you?

228
00:19:34,440 --> 00:19:40,920
And then what are some best practices for fostering collaboration?

229
00:19:40,920 --> 00:19:50,120
So A, it's absolutely fundamental to what I do.

230
00:19:50,120 --> 00:19:59,960
Not everybody goes about accounting the way that I do it, but in my mind, I understand

231
00:19:59,960 --> 00:20:05,240
financial results better if I can understand the upstream processes.

232
00:20:05,240 --> 00:20:06,240
Okay.

233
00:20:06,240 --> 00:20:10,540
I love to go out on the shop floor and I love to watch the process.

234
00:20:10,540 --> 00:20:19,440
I love to be able to touch and feel and understand what's going on so that when I look at the

235
00:20:19,440 --> 00:20:25,680
financial results, I can tell the story behind the financial statements.

236
00:20:25,680 --> 00:20:33,080
So it helps me, but I also view operations as my customer.

237
00:20:33,080 --> 00:20:42,760
So when I led accounting departments, I encouraged all of my staff, the accounts payable person,

238
00:20:42,760 --> 00:20:51,760
the accounts receivable person, the cost accountants, the entire staff, I encouraged them to always

239
00:20:51,760 --> 00:20:57,200
have a pair of steel toe shoes under their desk because I wanted them to go out on the

240
00:20:57,200 --> 00:20:58,360
shop floor.

241
00:20:58,360 --> 00:21:02,600
If they had a question about something, I wanted them to go out on the shop floor and

242
00:21:02,600 --> 00:21:08,880
ask the question out on the shop floor because that would help them to understand what they're

243
00:21:08,880 --> 00:21:10,840
doing.

244
00:21:10,840 --> 00:21:16,520
Whether it's accounts payable where they're looking at a bunch of invoices and what's

245
00:21:16,520 --> 00:21:17,520
this widget?

246
00:21:17,520 --> 00:21:18,520
Right.

247
00:21:18,520 --> 00:21:19,520
Right.

248
00:21:19,520 --> 00:21:26,480
You're understanding what it is so that they can understand is $10 per unit a reasonable

249
00:21:26,480 --> 00:21:31,840
price or should I be questioning this?

250
00:21:31,840 --> 00:21:40,240
Or if it's the cost accountant and trying to understand why we have this variance, go

251
00:21:40,240 --> 00:21:42,480
out and understand it.

252
00:21:42,480 --> 00:21:51,540
And so by doing so and treating our operations people as if they're our customers, we're

253
00:21:51,540 --> 00:21:57,360
providing a valuable service to them.

254
00:21:57,360 --> 00:22:04,240
And then when we're looking at the senior leadership team, we're able to tell a good

255
00:22:04,240 --> 00:22:11,400
story about what's actually happening in the operations and not just a bunch of numbers

256
00:22:11,400 --> 00:22:16,640
on a page, but the things that contributed to those numbers.

257
00:22:16,640 --> 00:22:17,640
Yeah.

258
00:22:17,640 --> 00:22:28,720
You know, the trick is to create good relationships and a sense of collaboration, a sense of partnership

259
00:22:28,720 --> 00:22:37,080
because sometimes it's easy to fall into a more adversarial relationship and HR has the

260
00:22:37,080 --> 00:22:39,080
same challenge.

261
00:22:39,080 --> 00:22:48,120
Sometimes in HR we forget that we're not the customer.

262
00:22:48,120 --> 00:22:52,040
We have our customers, but we're not the customer.

263
00:22:52,040 --> 00:22:57,160
And sometimes the other administrative areas sort of fall into that trap sometimes too.

264
00:22:57,160 --> 00:23:00,880
You give me this and you give me that as opposed to I'm going to go out here and work with

265
00:23:00,880 --> 00:23:01,880
them.

266
00:23:01,880 --> 00:23:06,320
My job is to make your life a little easier, make better decisions and things.

267
00:23:06,320 --> 00:23:07,320
Right?

268
00:23:07,320 --> 00:23:08,320
Yeah.

269
00:23:08,320 --> 00:23:09,320
Okay.

270
00:23:09,320 --> 00:23:13,800
Let's take a final break and then we'll be back to wrap up our discussion with Jeff Smith.

271
00:23:13,800 --> 00:23:18,740
At Flagship Talent, we work with our clients to find and place the right talent.

272
00:23:18,740 --> 00:23:20,600
What do we mean by the right talent?

273
00:23:20,600 --> 00:23:25,200
We mean we find talent who will commit to your organizational goals and align with your

274
00:23:25,200 --> 00:23:27,920
values and behavior expectations.

275
00:23:27,920 --> 00:23:30,460
Talent who will perform to your expectations.

276
00:23:30,460 --> 00:23:34,000
Talent who will stay and grow with your organization.

277
00:23:34,000 --> 00:23:36,000
How are we different from our competitors?

278
00:23:36,000 --> 00:23:38,820
We offer the lowest fee structure in the industry.

279
00:23:38,820 --> 00:23:41,640
We offer the best talent guarantee in the industry.

280
00:23:41,640 --> 00:23:46,480
We provide selection and interviewing support to our clients at no additional fee.

281
00:23:46,480 --> 00:23:51,640
We want to save you money, deliver high quality talent, become an extension of your organization

282
00:23:51,640 --> 00:23:55,440
and be your preferred provider of talent acquisition solutions.

283
00:23:55,440 --> 00:24:01,160
To learn more, contact Jeff Parsons by email at jeff at FlagshipTalent.com or by phone

284
00:24:01,160 --> 00:24:07,320
at 1-800-530-4189, extension 101.

285
00:24:07,320 --> 00:24:08,320
All right.

286
00:24:08,320 --> 00:24:09,320
We're back.

287
00:24:09,320 --> 00:24:13,500
And Jeff, thank you so much for your contribution.

288
00:24:13,500 --> 00:24:18,640
We really appreciate what you're bringing to this series on finance and operations.

289
00:24:18,640 --> 00:24:21,520
Thanks, Jeff.

290
00:24:21,520 --> 00:24:29,040
And Jeff will be joining us again next week in episode three of this series on how finance

291
00:24:29,040 --> 00:24:35,100
supports operational excellence, helps achieve business success.

292
00:24:35,100 --> 00:24:38,760
So join us again next week with Jeff Smith.

293
00:24:38,760 --> 00:24:41,880
I'm looking forward to it.

294
00:24:41,880 --> 00:24:43,540
I am as well, Jeff.

295
00:24:43,540 --> 00:24:49,560
But in the meantime, should any of our listeners want to contact Jeff, you can do so via email

296
00:24:49,560 --> 00:24:53,080
at jeff.smith.com.

297
00:24:53,080 --> 00:24:56,600
Jeff.smith.com.

298
00:24:56,600 --> 00:25:10,600
Until next time, work hard to become the flagship.

299
00:25:10,600 --> 00:25:11,600
Thank you.

300
00:25:11,600 --> 00:25:12,600
Bye.

301
00:25:12,600 --> 00:25:16,600
Thank you for listening to this episode of Be the Flagship with Jeff Parsons.

302
00:25:16,600 --> 00:25:17,600
We hope you enjoyed it.

303
00:25:17,600 --> 00:25:20,880
If you did like it, please subscribe and share with others.

304
00:25:20,880 --> 00:25:48,880
Until next time, take the step to become the flagship in your marketplace.