Aug 18, 2022

How To Build Expert Finance Teams.

How To Build Expert Finance Teams.

We all know that finance teams are invaluable to the success of a company. They handle bookkeeping, taxation, regulatory compliance, risk management, forecasting and reporting among other things.

But how do you build an expert team? What skills should they have? How do you organize them in your organization and what is the right ratio of senior vs junior members for your needs? Read on to find out more about building an expert finance team! 

Build a team with complementary skills. 

When building your team, it is important to have a good mix of skills. The best way to do this is not by hiring team members with the same skill-set, but rather looking for people with complementary strengths and weaknesses. This will allow you to achieve a greater degree of balance across your finance team.

A great team is usually a group of people who work seamlessly together to achieve their goals by helping each other. They rely on each other’s strengths and make a great support system. 

When you build a team with complementary skills and strengths, you’re creating a synergy that can result in better productivity and better employee retention. They will naturally thrive in whatever challenge thrown their way, and can quickly adapt to new ways of working with your clients. 

Hire for attitude, not just experience.

When hiring remote staff members, it's also important to evaluate them for personality fit. Are they easy-going? Do they have an abundance of patience and motivation? Make sure that your remote finance team members are generally positive people who will be able to excel in their roles in spite of the challenges of remote working.

For companies like Amped HQ, culture and motivational fit are just as important as the skills and experience. We make sure that the values and the vision of the company is reflected in the people that we hire. 

While skills and experience are necessary, sometimes working with difficult people can lead to more problems. They can start conflict, drama, and other unnecessary situations with your team members, or worse, your clients and stakeholders.

So the best ones to hire are those people who aren’t only good at what they do but also possess a positive attitude towards work, their team members and clients. 

Don't hire too many people at once.

If you hire too many remote staff members at once, the lack of in-person contact and diversity of opinion will introduce lots of friction into your remote team. The key to hiring remote accounting staff is to make small adjustments over time rather than making one larger adjustment all at once. In addition, hiring too many people at once can be very costly as it will require you to invest in their training, tools, and equipment. 

Although it may seem like a great idea to hire several people to handle a number of tasks, it’s better to build the team gradually and make sure you’re not hiring too quickly. After all, haste makes waste. 

Create clear job descriptions and set the right expectations.

Have you worked with a company who isn’t sure about what they want you to do? If you do, it probably frustrated you more than anything in the world. 

Write precise remote finance team job descriptions and ensure that they are easily accessible to them. This will help you to attract the right remote candidates and set realistic expectations for remote staff members.

If you're hiring remote finance team consultants, make sure that their remote work agreement matches up with your company's goals. You can do this by writing a clear contract outlining their deliverables and responsibilities.

It is also important to have a mutual understanding with your team about their expectations to avoid any confusion. Having a clarity of roles and responsibilities can also help them achieve their goals without too many distractions. 

Provide training opportunities for your employees to help them grow their skill sets and stay current in the finance field.

You can do this by setting up workshops for remote staff members and sending them to seminars to provide them with training opportunities. This can be a series of topics related to their process work, or any training that will help them improve their leadership and soft skills.

By training your employees, you are allowing them to become more competitive and productive. Employees will also appreciate that you are investing in their development, giving them an opportunity to learn and grow within your organization. 

The best way to build a finance team is by hiring the right people and creating programs that will retain them. Our experts can help you find those perfect candidates, create an attractive work environment based on their needs, and offer perks like flexible hours or remote opportunities. If your company has been struggling with turnover in recent years because of problems retaining employees, now’s the time to take action! 

Contact us today for a free consultation about how we might be able to help you bounce back from these difficulties. Amped HQ has helped businesses by giving them access to top finance and accounting talent at a fraction of the cost.