Most finance professionals prefer to work remotely or hybrid rather than onsite. As a result, team leaders must implement strategies for managing remote financial teams.
Managing a remote financial team requires open communication and collaboration to support productivity. These activities build trust, strengthen team cohesion, and drive business success.
The following strategies can help manage remote financial teams.
Invest in Hardware, Software, and Technologies
Provide your remote financial team with the necessary hardware, software, and technologies to complete their work. Examples include:
- Laptops
- Smartphones
- Printers
- Enterprise resource planning (ERP) software
- Accounting programs
- Communication tools
- Videoconferencing apps
- Collaboration tools
- Cloud storage systems
- Project management tools
- Scheduling tools
Prioritize Cybersecurity
Ask the IT team to set up additional cybersecurity for your remote financial team, such as virtual private networks (VPNs) and password managers. Also, ask IT to educate your employees on cybersecurity threats such as phishing and ransomware. Additionally, ensure every employee understands and follows your company’s cybersecurity policies.
Implement Automation
Automation centralizes information and streamlines remote team operations. These factors increase efficiency, accuracy, and productivity.
For instance, you might automate data entry, invoicing, expense management, and purchase approvals to free up time for more strategic tasks. These activities strengthen job satisfaction, employee morale, and attraction and retention rates.
Clarify Roles
Define each remote financial team member’s job duties, responsibilities, expectations, and organizational impact. Include guidelines for work hours, meetings, check-ins, and handling unexpected situations. Understanding what to expect helps guide work tasks.
Communicate Goals
Share individual and team goals and key performance indicators (KPIs) with your remote financial team. Ensure your employees understand what they are working toward and how success will be measured.
Provide the necessary resources and support to help your team reach their goals. Strengthening goal attainment increases employee engagement, performance, and job satisfaction.
Use Communication Tools
Videoconferencing, collaboration platforms, and cloud storage help your remote financial team communicate and collaborate. Include tools for budgeting, invoicing, and paying bills that allow comments and discussions within the platform.
Provide Project Management Software
Project management software offers real-time communication and collaboration for your remote financial team to align their goals and activities. Discussion boards, document sharing, interactive timelines, and other features create a centralized system to keep employees on the same page.
Regularly Check In
Schedule regular one-on-ones and team meetings. Use the time to discuss your remote finance team’s recent achievements, challenges, and concerns. Show that their ideas, viewpoints, and feedback are valued and respected.
Would You Like Help Adding to Your Remote Financial Team?
FiStaff can provide you with experienced financial professionals to help reach your business goals. Connect with us to learn more today.
