As a financial leader in your organization, your goal is to ensure your team’s work is completed accurately, on time and within budget. This requires creating an environment in which employees feel challenged, rewarded and valued.
Following are six qualities top managers share and use to bring out the best in their employees.
The best leaders adjust their management style to suit the needs and personalities of those on their teams. For instance, they might hold brainstorming sessions to generate new ideas on a business process but also welcome suggestions in writing, which may encourage less vocal employees to participate.
2. Strong communication skills
Top managers promote open, two-way communication with staff members. They’re able to convey complex information effectively, both verbally and in writing. They also listen intently to feedback from employees and follow through with appropriate action.
3. Ability to inspire
Leaders set the example for their teams by arriving at work each day eager for the challenges and opportunities ahead. They work one-on-one with employees to develop career paths and provide the necessary support for people to be successful with their goals.
Respected managers also stay one step ahead of the curve with leadership skills and business developments. For instance, they closely monitor regulatory compliance trends and keep their teams updated on emerging issues. They also explain how staff members’ work ties into the firm’s goals and priorities so they feel connected to the company’s long-term success.
The best leaders also know they can’t handle all of the group’s key projects themselves. They delegate authority to employees, giving them the power to do what’s needed to accomplish their assigned tasks without being micromanaged.
Strong decision-making abilities are also essential. To be respected by those in their groups, managers must walk the fine line between wavering and making decisions too quickly.
The qualities outlined above can help any financial manager make a positive impression with employees and fellow executives. Leaders should constantly reassess their staff management approach to make sure it remains relevant to current business conditions and their team members’ needs.