Pulse October 2023 | Page 52



Humanize Finance & Ignite Your Staff ’ s Hidden Potential

IN THE FAST-PACED LIVES OF SPA LEADERS , financial planning and budgeting is often viewed as a yearly burden reserved for management , with the financial aspects of a spa ’ s operations seldom shared with the team . However , there lies a missed opportunity to leverage finance as a tool to build team unity , foster talent retention and infuse even more meaning into the already important jobs of spa staff . By humanizing finance and creatively communicating fi- nancial goals and forecasts , spa directors can unite their teams in a shared commitment to the spa ’ s mission , transforming employees into stakeholders with a deeper understanding of the “ why ” behind what could easily become mundane daily operations with no goals in place .
Humanizing finance is easier said than done — but with these three steps to pave the way , spa leaders can take practical action toward igniting a hidden spark of motivation in their teams .
1 . Use Technology to Storyboard Success l What tools do I need to get started ? To begin the journey of humanizing finance , spa leaders should invest in robust financial software systems to identify key performance indicators ( KPIs ) and simplify financial data . Most spas , and indeed most businesses , already utilize financial software systems that streamline data collection and financial reporting . ISPA members such as Agilysys and Book4Time are well-known purveyors of the digital infrastructure needed to level up your fi- nancial reporting and allow you to hit the ground running when forecasting . l How do I translate hard data into motivation for my team ? Get creative ! Think outside the box to translate your most important KPIs into practical , compelling stories that kindle your team ’ s imagination and paint a vivid picture of the importance of their daily actions . By creatively communicating financial goals , spa leaders can solidify the connection between the financial bottom line and daily operations , igniting a shared sense of purpose across departments . l I ’ m not very creative . What does this look like in real life ? Imagine presenting your spa staff with a storyboard that showcases how their hard work , attention to detail and dedication translate into tangible outcomes on the spa ’ s financial growth chart . Engaging visuals and accessible language can help bridge the gap between financial jargon and the team ’ s daily responsibilities , making the financial goals more relatable and inspiring . If you ’ re still unsure of where to begin , check out the sidebar ( page 34 ) on using ChatGPT to draft a storyboard for you .