Top tips for building a high performing finance team
Building a great business means focusing on every core element that makes up your organisation. One of the sometimes less-appreciated parts of your business will be the finance team who, in many ways, keep the back-end of the company running efficiently. As such, if you are looking to push the company in new directions, then you need to have a high-performing finance team who are up for new challenges and ready to help you steer the company forward. Here are four ways to do exactly that.
1. Make use of goal setting
Goal setting is a powerful tool for excelling in all manner of day-to-day activities, and this is no different for your finance team. As well as company-wide goals, each individual member of the finance team should have clear and tangible targets they are working towards. For example, new staff will need to know daily what they need to do to pass their probationary period, whilst senior level staff need to be aiming towards management and leadership positions even higher up in the organisation.
2. Recognise and reward success
With clear goals and targets for each member of your finance team, it is easier to see when exactly great things are achieved. Once these targets are hit, such as the team signing off that month’s accounts, you need to recognise and reward them for this effort. This can be via monetary incentives or after-work drinks for example. These small rewards go a long way and greatly improve their motivation levels and work ethic.
3. Encourage new ideas
The best way to make any team feel like they are a part of something bigger and to motivate them to work harder is by listening and encouraging their ideas on new opportunities and avenues for the company. This means listening to even new members of the finance team and possibly holding regular monthly discussions where these ideas can be shared. At the end of the day, each member of the finance team is the one dealing with their day-to-day tasks and are in the strongest position to know when something needs to be changed.
4. Create a strong company culture
A high-performing finance team will be just one component of a fully functioning business, which means you need to sometimes look at the company as a whole. One of these crucial company-wide elements is the company culture which should aim to be unique to your business, and one that everyone buys into. In turn, you need to make sure that your finance team buys into that culture and this will help them work to the best of their abilities as they view themselves as a part of something bigger, not just one small part of the business.
Building a high performing finance team also comes down to having the right talented individuals in the right positions. However, it is often hard finding such talented individuals with the skills and drive that your business needs to excel. Luckily, BTG Recruitment specialises in recruiting staff with great potential in the financial sector and who are keen for new companies and new challenges. To find out more about how we can help, get in contact today.