Accountability is important to a team. For accounting firms that have set their sights on growth, this is one of the things that they need to focus on.
Regardless of size, firms need to have transparency. The lack of visibility is one of the hindrances in achieving success because it can derail team members.
When people have no idea what everyone else is doing, there is less room for collaboration. People will find it challenging to communicate updates, identify areas that need improvements, or even monitor progress.
What is your team working on? How well do you know their progress? What are the tasks that take up their day? Do they touch base with the clients regularly?
The Need For Visibility
Managing an offshore team requires some level of visibility. When you know what’s happening with your team, you will be able to properly gauge your performance as a company. It will also allow you to:
- See if you’re on track to meeting goals
- Identify stucks or areas where you can improve
- Monitor progress of each task
- Know what everyone else is doing
- Track how clients are being managed
Team members need to have a clear understanding of the firm’s goals and, more importantly, understand the role each individual plays. This knowledge will help each individual contribute to the success of the firm as a whole.
Having transparency and visibility can also foster trust among each members. When team members know and understand what their managers are currently busy with, they will take it as a sign of honesty, thus making them trust their leaders more.
This fosters the kind of culture where junior staff respects and trusts superiors and where everyone trusts the employer.
Improving Transparency At The Firm
Ditch email and talk to team member
Accountants are no stranger to the barrage of emails that need to be tended to on a daily basis. In fact, many are already fed up with the volume of emails they have to deal with.
According to data obtained by The Outsourced Accountant, 56% of firms say emails and calls block their productivity.
Handling emails can be time-consuming. This unnecessary task will take up time that can be better used elsewhere, like analysing financial data. But since this is crucial to corresponding with clients and other members of the organisation, you can’t completely get rid of it.
What you can do is reduce its use. Improve email etiquette at work. For example, if something can be better explained through a phone call or talking to the person vis-a-vis. Another recommendation would be to use other communication tools, like Skype.
Use collaboration tools to easily disseminate data
Team members will be able to collaborate easily with collaboration tools that make data accessible to everyone. Digital management platforms can reduce the time spent on obtaining data. This should help everyone accomplish tasks easily and quickly.
Feedback is essential in assessing the effectiveness of a certain process or system. Team members, aside from adopting specific processes and workflows, must also be provided feedback so you can identify which areas need to be improved. This is also necessary to see which ones are working.
Providing feedback in a constructive way is one of the best ways to build trust among team members, so make sure that you do it right.
The lack of visibility is a hurdle firms need to overcome to ensure they are on the right path to success. When everyone knows where everybody else is at, it’s easier to monitor progress, track achievements and identify areas for improvement.
Transparency can be achieved in a number of ways:
- Reducing correspondences via email
- Encouraging face-to-face communication
- Using collaboration tools
- Provide feedback
If you are an accountant, bookkeeper or finance firm and looking to solve capacity restraints, call our offshoring specialists at 1300 896 522 or click here to download our blueprint on how to build a global accounting team.
Get the latest accounting industry updates in your inbox by subscribing to The Ledger now. Click here to know more.