Everyone has room for improvement at work. This includes your role as a finance manager.
Becoming a better finance manager elevates your team’s performance. Your employees likely will stay engaged longer, perform better, and remain with your organization longer.
As a result, you must do what you can to become a better finance manager. The following tips can help.
Becoming a Better Finance Manager
Do: Remain Accessible
Make yourself available to your employees. Encourage them to talk with you about their needs and concerns.
Being accessible shows you value and respect your team. It also improves employee engagement, productivity, and morale.
Your role is not to perform your employees’ work. This means you do not need to hover while your team members complete their tasks.
Keep in mind you hired the best talent and trust them to effectively complete their work. You are there to provide guidance, supervision, and mentorship. This includes giving your team the necessary resources, letting them work, and being available for questions and support.
Do: Provide Feedback
Regularly give each employee constructive feedback. Include what they are doing well, what they can do better, and specific ways they can improve.
Constructive feedback builds trust and respect among your employees. It also improves employee engagement, performance, and retention.
Don’t: Shame Your Employees
Publicly embarrassing your employees does not establish your authority. Rather, it undermines your credibility and turns your team against you.
Instead, privately suggest methods to improve an employee’s performance. Use the discussion to empower your team member with specific steps to more effectively perform their work.
Do: Celebrate Accomplishments
Acknowledge when your employees reach a target, finish a project, or attain a goal. Include what each team member accomplished, the steps they took, and their impact on the organization.
You may want to send your employee a congratulatory email or take your team to lunch. Also, let other managers, supervisors, and leaders know of your employee’s or team’s success. Plus, provide a bonus, raise, or promotion when appropriate.
Celebrating employee accomplishments encourages your team to repeat the behaviors that led to the results. This elevates employee engagement, performance, and job satisfaction.
Don’t: Ignore Your Employees’ Skill Development
Employee skill development is imperative for career progression. Not having opportunities for professional development means your team members cannot move up within the organization. Lack of advancement encourages your employees to look for jobs elsewhere.
Instead, delegate tasks to your employees to promote their skill development. Also, offer stretch assignments, job shadowing, and cross-training opportunities. Plus, let your team members lead meetings and represent the company at industry events. These actions promote employee longevity with your company.
Effective Leadership Means Hiring the Best
Understanding what to do and what not to do as a finance manager makes you a more effective leader. The more your employees feel valued and respected, the longer they will stay engaged, perform their best, and remain with your organization.
Free up the time needed to manage your team by making Casey Accounting & Finance Resources part of your recruiting process. Get started today.