No team, no matter how empowered, can always operate at maximum productivity. Whether it’s the arrival of summer, or the midpoint of a large project, the best finance teams can dip down. Here are 7 suggestions to help make your finance team more productive again.
According to an article from the Harvard Business Review one-on-one meetings are one of the most important productivity tools you have as a manager. This is because they help you assess strategic direction, and at the same time, build rapport with your team members. Schedule weekly or biweekly one-on-one meetings to give and receive feedback. Troubleshoot if needed and ensure that your team member is on track.
Create a Learning Culture
In the post “Improve Organizational Performance by Hiring Dolphins” we take a close look at how creating a learning culture increases team productivity. Plus, you’ll get to read a fun story about dolphins in Australia. What could be better?
Some quick insights:
- Having your team teach each other builds your future leaders
- Developing a learning culture also means creating a culture of openness to new ideas and unconventional thinking
- Each week discuss what worked and what didn’t so that team members can learn from each other
- Don’t own the podium as the leader. Let everyone contribute
Break Down Projects
Establish small goals within a large project. This will help people stay motivated and feel like they are making progress.
As your team’s workload increases, their motivation can wane. Help each team member re-prioritize. In your morning meeting reiterate the team’s key outcomes so that everyone is on the same page.
Praise Your Team
Showing genuine appreciation for a job well done goes a long way in encouraging productivity.
Read: “How to Praise Your Finance Team” for insight into how creating a culture of recognition can lead to all-star employee performance.
Encourage autonomy. The more your team can feel like they own their individual workflow, the greater the level of accountability and accomplishment.
Read “How to Stop Micromanaging Your Finance Team” for more information.
Make goal achievement as transparent a process as possible not only for individual employees, but for the team as a whole. This will keep individual team members accountable to each other and prevent social loafing.
Wait, what’s social loafing? Watch this short video to find out.
If your employees are staring out of the window, dreaming of their next long weekend, perhaps it’s time to refocus their energy. Schedule one-on-one meetings to give and receive constructive feedback. Help employees reprioritize and break down large projects into smaller, more manageable pieces. Create a culture of learning and recognition. Foster autonomy by limiting micromanagement and encourage accountability by creating transparency in the goal setting and achievement process.
Your Next Step
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