For some time now, savvy business owners have been opening their books to employees. The idea is to give workers an incentive to cut waste and boost the company's bottom line. Development Counsellors International (DCI), an economic development and tourism marketing firm in New York City, has put a new spin on the practice with their "CFO For The Day" program.
The position of CFO rotates monthly among staffers. The designated CFO analyzes and presents the company's financial information at the monthly staff meeting.
"Everyone within the company will [fill this position eventually]," says Andrew T. Levine, DCI's president. "At the end of the day, I want people to feel as if there are 21 business owners here, rather than one business owner and 20 staff members. I think we're accomplishing that."
Jacquelyn Lynn is a business writer in Winter Park, Florida.
Development Counsellors International, (212) 725-0707, firstname.lastname@example.org