As your firm expands its team, it becomes evident that exceptional accounting expertise does not inherently equate to outstanding leadership. These are distinct skill sets requiring separate cultivation. A deficiency in leadership abilities will necessitate compensating for subpar performance from your team, ultimately undermining the objective of onboarding new talent.
Fortunately, leadership qualities can be developed in much the same way as your accounting skills. Here are some key leadership tips to consider as you onboard new team members.
Personalise your team members
It is profoundly demoralising for employees to perceive themselves as indistinguishable components within a company’s number-crunching machine. Every individual aspires to be acknowledged not only for their contributions but also as distinct individuals.
Naturally, as an executive managing a large organisation with hundreds of employees, maintaining detailed familiarity with each individual becomes challenging. However, one compelling reason professionals are attracted to smaller firms is the expectation that they will be acknowledged and valued as unique individuals, rather than being perceived merely as functional assets.
Take the time to understand your team members. This can be achieved through various methods such as conducting one-on-one meetings, engaging informally with employees for a few minutes daily, organising weekly lunches or hosting pre-weekend wine tastings. Learn about their personal ambitions, preferences, sense of humour, family situations, and other relevant details.
If you are more introverted or uncomfortable in social settings, choose activities that focus on work or shared interests rather than direct social interaction. Regularly scheduled work-related meetings are a straightforward approach. Alternatively, consider organising activities like cooking classes, karate lessons, sports games, or charity events—situations where socialising occurs naturally as a secondary aspect rather than being the primary objective.
Understanding the unique preferences and interests of your team members not only fosters loyalty but also enables you to personalise rewards such as gifts, perks, or bonuses. For example, an employee who is passionate about a local sports team will greatly appreciate receiving tickets to a game. Conversely, another employee who has no interest in sports might prefer tickets to a beer crafting fair.
This level of individualised attention significantly contributes to retaining employees within your organisation, even when higher-paying firms attempt to attract them away.
Let employees make decisions
While this initiative may seem daunting, it is commendable to empower certain employees with decision-making responsibilities that influence the firm’s future trajectory. Recognizing such empowerment from senior leadership signifies a profound trust in their capabilities and acknowledges their role in shaping the company’s success. This delegation of authority fosters a deeper emotional commitment to the organisation among employees. Consequently, they evolve beyond mere contributors to becoming integral members who are dedicated to the firm’s sustained growth and prosperity.
Invest in employees’ futures
As previously mentioned, understanding the aspirations and career objectives of your employees is crucial. To truly align them with your organisational goals and retain their loyalty, it is beneficial to actively support them in achieving these ambitions.
This can be accomplished by funding their participation in seminars, courses, and workshops or providing access to essential resources such as books. Such opportunities might otherwise take significantly longer for employees to afford independently. Demonstrating this level of investment not only fosters a sense of care towards their future but also results in a more dedicated workforce capable of handling specialised tasks.
Additionally, there could be an opportunity to expand your service offerings as employees acquire new skills that may surpass your current capabilities.
Keep teams as small as possible
Have you heard of Jeff Bezos’ (Amazon) “Two-Pizza Rule”? He tries to avoid groups or meetings too big to be fed by two pizzas. This helps avoid two pitfalls:
- Highest Paid Person’s Opinion (HiPPO) – people further down the firm’s food-chain will outwardly agree with you, even if they have differing opinions.
- Groupthink – the pressure to stick with the crowd for fear of being ostracised or disliked because you’re seen to be holding things up.
The primary objectives of open meetings are compromised by two significant issues: they hinder the process of evaluating ideas within your team prior to public implementation. Effective leaders recognize the importance of subjecting new concepts to rigorous feedback and enhancement before presenting them to clients. Therefore, it is advisable to maintain meetings and groups at a minimal size to maximise their effectiveness and value.
Pick leaders to lead
As your firm expands to a point where appointing a manager becomes necessary, it is crucial to select an individual based not only on their capacity to complete tasks but also on their leadership abilities. As highlighted in the introduction, possessing exemplary accounting skills does not inherently equate to having strong leadership capabilities. This principle applies equally when you are considering candidates for managerial roles within your organisation.
Build groups based not only on strengths, but also on weaknesses
When tackling a critical project, particularly one presented to an A-list client, it’s natural to seek the involvement of employees who possess exceptional strengths relevant to the task. While this approach leverages existing expertise, it is important not to overlook opportunities for organisational growth.
Consider incorporating team members who may lack proficiency in certain areas. By immersing them in a high-stakes environment alongside your specialists, they can acquire valuable experience and skills. It’s crucial that these less experienced individuals actively contribute rather than simply observe; assigning them meaningful tasks will help maintain their engagement and drive.
This strategy benefits all parties involved: the novice team members gain practical knowledge and career-enhancing exposure, while you cultivate a broader base of capable staff ready to tackle similar projects in the future.
