How to Assess What Your Finance Team Really Needs

As a manager you want your team to deliver. But sometimes even a top performing team starts to flounder.

How do you assess what needs to be done to help them regain top form?

Here are three things to look at.

Qualifications and Fit        
According to the American Society for Training and Development’s Strategic Needs Analysis, the best place to start is to evaluate each team member’s job description. Is the job description an accurate reflection of what each team member is expected to do? If not, is there a skills gap that needs to be addressed through additional training or mentoring? People who are miscast will struggle to perform, so you need to ensure everyone is positioned for success.

Understaffed
Determine if the work load is simply too great for your current team. Are you understaffed? Is there a specific area where it might help to hire a contract resource or permanent employee? Are there resources available for you to do so? Talking to your team one on one helps to identify where resources could be allocated for greater effect (as well as helping you understand their current challenges and where you can be of assistance).

Communication Breakdown
Determine how information is being shared within the team and cross-functionally. Do team members know what each person is responsible for? Can your team get the information they need from other departments to be successful? Try to identify where there might be a communication break down and then evaluate if there is a fix.

If you take the time to talk to each team member, observe them interacting and evaluate if there are staffing or skills gaps, then you’ll have the information you need to get them moving forward and delivering.