How a CFO can help you with building a strong team culture

We often work with business owners who are at the burn out point as they try to do everything themselves.

Recently, one of our CFO’s worked with an owner who naturally believed that as the business owner, they cared the most about what’s going on. That they themselves must solve every problem, which just led to sleepless nights and constant stress.

We see how this mindset can demotivate and demoralise top employees, potentially causing them to quit, just adding to the burn out cycle for the owner.

As CFO’s we can advise you on how to build a strong team so that the business can run without needing the owner to be involved in everything. We can set up structures to inspire and motivate your A Team.

In turn you will find that your A Team are contributing to the company’s success and reducing burnout for owners and managers.

 

Teamwork makes the dream work

Engaged employees dedicate their mental, emotional, and behavioural energy to producing their best work. Motivation drives this engagement, as motivated employees are more focused on achieving their goals, leading to higher levels of commitment and productivity. They trust and support each other, share positive feedback, and celebrate successes together, strengthening their bond as a team.

 

How CFO’s can help motivate employees

• Analyse how teams work together

A company’s culture must be intentionally crafted and reinforced to withstand market pressures and internal discord. By assessing team dynamics, a team can truly work together.

 

• Lead with Vision

At The CFO Centre we can help you to set a clear vision that aligns financial goals with the broader mission and values of the organisation.

This vision should inspire and motivate others.

 

• Ensure your essential employee systems are up to date

Use a company such as ADP to ensure your payroll, time tracking, and recruiting data is combined.

 

• Invest in powerful incentives for your A Players

From a simple mention in team meeting, to a full-scale incentive program, people always feel more valued when you take a few seconds to acknowledge their achievements.

 

• Encourage creativity and innovation

Encourage your workers with an issue and ask for suggestions. Be sure to celebrate those who come up with truly creative, effective solutions.

 

• Be honest, and offer constructive criticism

Is a client unhappy with your staff’s performance? Does a looming deadline mean overtime is on the agenda? Be frank with your employees. Even if they don’t like the news, they’ll appreciate the transparency.

 

• Show them the big picture

Be sure your team understands what your organisation is trying to accomplish and remind them that each contribution is essential in meeting your goals.

 

How your CFO can help

However you choose to work on employee engagement, the goal is a win-win for you and your staff. By boosting their job satisfaction, you can expect to improve your retention rates, increase productivity, and in grow or scale the business effectively.

We find that entrepreneurs who can enjoy their businesses more typically increase business value, and generate cash in their businesses. This is a key driver in our way of working in our own business and in your business.

 

Imagine how The CFO Centre can change your business. Will you use this cash for investment, growth or return?

 

 

*With thanks to Glenda Lewis, CFO (New Zealand) for her contributions to this article.