But how can you motivate and develop your team to get the most out of them? You must aim to blend together a range of tactics and approaches into a coherent team management strategy.

 

Culture and environment

As the leader, you must define your team's identity - communicating the values and ethos that drive your activity. From these values and your overriding objective, will come the surrounding culture, or the 'way that you do things'. This sets the overall tone and gives staff a sense of team and belonging, which they will contribute to and further define. Remember that team culture does not mean a 'one size fits all' approach. Indeed, some of the best-performing teams have great diversity and a difference of talent and personality, all which complements and balances out the group dynamic. Seek to recruit diversely and you will reap the benefits.

 

When hiring new staff  one trait to avoid in an employee is pessimism or negativity. The individual with a sense of healthy questioning and caution is an asset in a wider team of big thinkers, but one who is overly negative or resolutely resistant to change, may not serve you well.

Set clear and measurable goals

The team must have an overall objective and each individual should have clear and measurable goals that work towards that purpose. For example, new staff will be working to achieve probation sign-off and the newly-qualified will be aiming for professional and chartered status. The more developed staff members should be working towards managerial roles  with development plans set accordingly. Invest in regular feedback meetings and appraisals. Team meetings - where everyone is entitled to speak freely and equally - are also important as these give an opportunity to reflect, feed back and plan together.

Define processes and structure

Clear communication about processes and structure is essential for a financial team because compliance is a legal requirement. Furthermore, structure and processes give staff the framework they need to operate confidently. Clear processes set expectations and allow high-quality delivery and consistent results.

Create an enjoyable atmosphere

If your staff enjoy coming to work, you will really notice a difference to morale and productivity. Engender a sense of fun and camaraderie. Celebrate successes visibly and regularly, socialise together, take time away from your desks to talk and be creative. As a general rule of thumb, involve everyone in the team and recognise the achievements you are making, together.

 

Written by Rachael Clarke of Circle Square - Finance & Accountancy Jobs London

 

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