Your finance team is an important part of your business’s success and therefore identifying if your finance team is growing your business and on the right track can be an excellent way to monitor their progress. Here are a few areas to consider.
You are a Leader – If you have a clear vision and objectives for each member of your finance team, the chances are that your finance team is aware of what they should be doing. Micromanaging your finance team will often cause problems and not push your finance team to make sound decisions on their own.
You lead – There is an emerging trend for employees to work flexible hours, which can make for better work/ life balance and cut costs for the organization.
You think outside the box – If your finance team is spending more time on creating reports and less time on analyzing them, then you need to provide your team with the necessary tool which will help them function efficiently. Look at programs that will help your finance team generate quick, accurate reports to help your team analyze your business better.
You are setting standards – Look at targeting your resources and avoid cutting finance spending.
You build on your talent – Reward team members by training them on programs that will improve their input and make their jobs more rewarding. Consider asking your finance team what training programs they require and look at creating a training plan that includes some or all of these requirements.