Build a Great Finance Team – Here’s How

Great teams are comprised of talented individuals who have bought into a coach’s vision.

Each team member knows their role and the accountability attached to it. Building a home-run finance team is no different. To be successful, great finance teams require superior leadership- and that’s where you come in. To ensure individual excellence, while still prioritizing team goals and company objectives, make sure you do the following 4 things.

The Vision

Your team needs to understand what they are ultimately striving for. When you are formulating your vision, make sure to tap into other sources of thinking. Together you can set goals and prioritize initiatives that will ultimately drive value.

The Team

Do you have the right players on your team necessary to achieve your vision? Do you need to juggle your lineup?  Is there a key person missing that you need to hire? Look at the strengths and weaknesses of your team members. How can your personnel be used to greatest effect? Cast your team members in the right roles and tie their performance to specific outcomes. If you’ve connected their strengths to what they need to deliver, you’ll position them for success.

Mentorship

Once you have established your vision and evaluated your team, be prepared to mentor them. A collaborative, supportive environment leads to greater innovation as people feel secure in presenting ideas and troubleshooting areas of concern.

Promotion

Reward success by promoting from within. It sends a message that hard work and meeting expectations is valued. It also reinforces that buying into your vision leads to team and professional success.

Building a great finance team requires a certain amount of patience and foresight. Craft your vision carefully based on company objectives and collegial feedback. Position team members for success based on their strengths, establish open lines of communication and promote from within. Before you know it, you’ll have transformed your team into a well-oiled, happy and productive machine.