Change is hard but often necessary. The question is, how do you effectively guide your staff through times of transformation while also ensuring they are supported? As is often the case, much of the responsibility falls on your capable shoulders. Your steady leadership will ensure your team adapts smoothly and continues to perform at its best.
Here are some practical tips to help you guide your department through financial transformation:
Be Open and Honest From Day One
Far too often, employees are made aware of change initiatives after all of the particulars have been decided upon by the executive team. In those instances, team members feel as though the transformation is being forced upon them. You want them to feel like they are participating in and contributing to change, not enduring it.
You should be open and honest with your staff from the outset of any change initiative. As soon as you are able, let them know what transformations the organization is considering, why, and what the potential implications will be.
For example, if the C-suite is about to start a search for a new enterprise resource planning (ERP) solution, let your staff know. Ask what features they’d like to see and share their input with executive staff. While not all of them will get the features on their wish list, they will appreciate that you took the time to listen and pass on their concerns.
Set Clear Goals and Expectations
Financial transformation often involves new processes, systems, and goals. Clearly define what success looks like and set realistic milestones for your team.
Make sure each employee understands their role in the transformation and how their contributions will impact the overall goals. If everyone has clear expectations up front, it will be easier for them to stay focused and aligned.
Provide Adequate Training and Support
Change can be overwhelming, especially if it involves learning new skills or adapting to cutting-edge tech. Don’t throw your staff into the deep end of a change initiative.
Invest in training programs and resources to help your team build the necessary competencies. Offer ongoing support and create a safe environment where employees can ask questions. They should be able to seek assistance without fear of judgment or consequences.
Double-Down on Staffing Before Major Rollouts
No matter how well you prepare, there are bound to be some bumps in the road when you are rolling out new software. Prepare for these challenges by increasing your IT and support personnel on go-live dates.
For example, the day you take your new ERP live, make sure you have extra information technology team members on duty. This way, they can quickly put out any fires and help your employees with software issues. You want to minimize friction among your team so they do not develop negative sentiments toward the technology.
If you don’t have the internal staff necessary to provide adequate support, reach out to the vendor for help. Large software development companies often offer hands-on implementation support to ensure a seamless transition to their platform.
Recognize and Celebrate Progress
During a financial transformation, it’s important to recognize both small and large accomplishments. This becomes especially critical during multi-year initiatives. Don’t wait until your team has completed its metamorphosis to celebrate what they have achieved.
Acknowledging progress boosts morale and motivates your team to continue striving toward the end goal. You can distribute awards following a particularly challenging leg of the transformation journey, host a team luncheon to build chemistry, or simply take a few minutes to let your staff know you appreciate them.
Foster a Culture of Flexibility
Encourage your team to embrace change and view it as an opportunity to grow rather than as a threat. Promote a culture where flexibility and adaptability are valued. Acknowledge that there may be bumps along the way and that it’s okay to make mistakes as long as you learn from them and keep moving forward.
You must be willing to showcase flexibility as well. If deadlines get pushed back, accept the delay and refocus on the task at hand. Don’t harp on the issue, especially if it’s past the point of fixing.
Lead by Example
Your team looks to you for guidance and reassurance. Demonstrate the qualities you want them to exhibit.
How you act when things don’t go according to plan will have a direct impact on employee morale. While you can’t control everything that happens during a transformation initiative, you dictate how you respond when things go wrong. Use this opportunity to lead by example.
Change Is Hard but Necessary
Your team needs your support just as much — if not more than — you need theirs. The strategies outlined above will help you guide them through the difficulties that lie ahead while sharpening your company’s competitive edge.
