Managing an accounting and finance team has its challenges. Among them are adequate communication with your team, performance levels meeting standards, and maintaining enough team members to handle workflows. Fortunately, there are ways to overcome these issues and continue to move forward.
Discover three challenges most accounting and finance managers face and how to avoid them.
Low Communication with the Team
Inadequate communication with your team members can lead to problems down the road. For instance, your employees may not understand their role in a project, what they should be focusing on at a given time, or when the work should be done by. To avoid these issues, talk with your employees on a frequent basis. Redefine your standards for reaching team goals and objectives. Ensure your employees understand their individual and team responsibilities and deadlines. Reinforce the importance of asking questions.
Performance Levels Below Expectations
Your employees will have times where they are less productive than usual. This can affect your other team members, especially if they need to take on additional tasks to maintain productivity. When this happens, you need to motivate your employees to get back to their typical performance level. For instance, schedule time to talk privately with your team member. Clarify what their work hours, targets, and goals are. Compare your expectations to actual performance. Ask what has been causing the employee’s decrease in performance and how you can help. Work together to create a plan to improve by a certain deadline. Provide constructive feedback until you get together for further discussion.
The Team Is Understaffed
Consistently having more work than your employees can handle can lead to burnout. This is why you should consider adding a permanent or temporary member to your team. The additional worker can take on tasks that team members had been adding to their plates. This division of responsibilities allows everyone to focus on what they do best while reducing stress levels.
Work with a Professional Recruiter
Managing an accounting and finance team poses significant challenges. Among them is lack of adequate communication with your team, employees not meeting performance expectations, and regularly having too much work for your team to handle. Fortunately, these issues can be worked on with clear planning and action.
When you need help finding qualified accounting and finance candidates who are a good fit for your company and department cultures, partner with a recruiter from Casey Accounting & Finance Resources. Find out more today.