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How to create a high-performance team
As many partners and principals know, creating a high-performance team is often easier said than done. Here are some top tips to ensure you enter the new year with a strategy front of mind.
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For licensed financial adviser, Helen Baker, many teams are hindered by issues related to finances, often leading to low productivity, poor engagement and an inability to drive effective results.
“High-performing teams are built by tackling the problems holding them back – including their finances,” she said.
“The old mindset that work and personal should never mix is dead in the water. For one, who can magically forget their personal worries as they clock on at work?
“Plus, our modern connectivity, with 24/7 email and social media access, mean our work and personal lives are more intertwined than ever.”
A big issue Ms Baker often sees among poor-performance teams is managers not creating a safe space to address employee concerns.
“For many people – especially women – discussing financial matters together with their partner can be confronting. Especially if they are coupled with issues like domestic abuse or gambling addiction,” she said.
“The workplace hence becomes a safe space to discuss problems and seek out advice. So, it makes sense for employers to foster this in a professional and structured way (rather than as gossip around the coffee machine!)
“Employee assistance programs (EAPs) can help facilitate a safe space. These support services are free for employees to access and discussions remain confidential from their employer.”
Not addressing financial issues head-on can often create serious ramifications for a business, “given the planning required to transition crucial skills and knowledge from the retiring employee to the next generation”, according to Ms Baker.
“Money matters are somewhat like mental health (indeed the two are often intertwined): discussion is crucial to build awareness, break down stigmas and get people the help they need,” she said.
“Encouraging discussion of financial matters in the workplace is a key part of this, such as through guest presentations or facilitating one-on-one appointments with qualified advisers.”
In conclusion, Ms Baker noted that ultimately, tackling employees’ financial worries is a strategic investment in generating workplace efficiencies and reducing stress.
“Those in turn mean less sick leave and enhanced workflows, culminating in better client outcomes. And that’s a win-win for everybody!” she said.
