In a survey conducted in 2020, American adults answered a list of personal finance questions. Only 52% of those adults answered the survey questions correctly. But those results are really no surprise. After all, only 15 states in the US even guarantee high schoolers will take at least one semester of personal finance before graduating.

Tight on the heels of the Great Resignation comes another economic trend: quiet quitting. Many who aren’t choosing to leave their jobs for better opportunities are staying put but distancing themselves from excessive work-related duties (AKA, quiet quitting).

Historically, businesses using traditional management styles have been reluctant to give all their employees the knowledge they need to make good business decisions day in and day out as they do their jobs. Open-book management takes a much different approach. It’s all about capturing and sharing both financial and organizational knowledge with every employee and empowering them to use that knowledge to contribute to the long-term success of the organization, as well as their personal success.

3 Principles to Retain Talent 10.9 million. According to the US Bureau of Labor Statistics, that is the number of job openings in the United States as of the end of July. To add fuel to the fire, there are 4.9 million more people than before the pandemic who are currently not working or even looking for work. Then consider that 3.6 million people retired during the pandemic, and 2 million more are expected to leap into retirement. No wonder nearly 90 percent of the 1,200 employers surveyed by SHRM reported a lack of people to fill open positions, and 73% stated the application rate is declining as well. At SRC, it is no different. We have hired more than 600 new employees across all divisions within the last few months, and we still need more people. But why the shortage? That is a head-scratcher for sure. More than likely, it is a combination of many things—a perfect storm. You really can’t point the finger at one specific thing that is causing it. One thing is for sure. It has caused businesses to think differently about their people. The Great Game of Business has said it for years - People are your greatest asset. Invest in your people, and they will invest in you. That’s easier said than done, right? Yes and no. It’s not always easy, but it is simple. Recently MITSloan Management Review analyzed a total of 1.4 million employee reviews. The purpose of this study was to determine what matters most to employees. They narrowed the reviews down to around 150 topics, with 10 bubbling to the top.

For nearly four decades, SRC has been perfecting its approach to strategic planning, and every year it keeps getting better. Here’s the proven step-by-step approach to building good, accurate plans employees love to execute. People Support what they help to create. That is why at SRC and The Great Game of Business®, building a strategic plan is about involving ALL employees in the planning process. That means planning is a year-round event, and it begins with what’s happening in the real world. Twice a year, in June and October, SRC brings the marketplace to its people so they can accomplish two goals: Develop business-growth plans they can own. Help employees answer the questions: Are we confident and energized about the direction of the company? Having a strategic plan is more than putting on paper what you plan on doing over the next year. It is about setting a strategy, building a plan, dealing with market changes, and most importantly, enabling everybody to contribute. This is what we at The Great Game of Business call High-Involvement Planning™. Big picture — High-Involvement Planning can be broke down into clarifying your strategy and building your plan. If you zoom in, you will see that there are really ten steps to having a successful strategic plan.

Every company should have a vision for itself. Jack Stack, CEO of SRC Holdings and the founder of The Great Game of Business, says, "Having a 10-year plan can help overcome unexpected surprises." Recently, Rich Armstrong, President of The Great Game of Business, and Steve Baker, Vice President, "sat down" (via zoom) with Jack to learn about the 10-year vision for SRC Holdings in a post-covid world.

# 1 - Recognition and Respect Great employees continue to prove themselves every day. Recognition and respect from peers and leadership further solidifies the bond between a great employee and the company. Respected employees stay because they would have to start over at ground zero at a new company. Once again working to earn recognition and respect from a new employer. Respected employees: help set and maintain the productive rhythm of the company. mentor others. step up when needed without being asked. have unique talents and expertise that are obvious. In return, the great employee's work and contribution earns them recognition and respect at all levels of the company, especially leadership. Again, the key word is "earned."

One of the main concerns business owners have when first introduced to open-book management is related to what information will be shared. They fear that revealing details of the company’s financial picture will create stress and tension within the organization. For example, owners are often concerned about whether employee salary information is to be revealed. They even worry about the competition gaining access to their financials.

“My business is unique. I’m not sure Great Game® will work here.” For-profit businesses of every size, shape, and industry have embraced the Great Game of Business over the past 35 years. Now, lessons learned by SRC have spread into the nonprofit and social sectors in a program called the Great Game for Social Sectors. In recent years, leading organizations such as Missouri Southern State University (MSSU), Big Brothers Big Sisters of the Ozarks (BBBSO) and Greene County, Missouri have embraced the open-book management principles taught by the Great Game as a way to improve their financial sustainability. Since the launch of the Great Game for Social Sectors in February 2017, 24 organizations have adopted the proven principles of the Great Game to transform their not-for-profit organizations.

The Huddle cycle consists of a series of meetings where financial and operational numbers are shared and forecasted. These meetings include a Pre-Huddle, Main-Huddle and Post-Huddle, all with different focuses and objectives. When performed properly, the Huddle Cycle saves time despite the additional meetings by providing improved communication within your company, better execution of your tasks and strategies, and a clear understanding of how each employee affects the success of the company.