High-performing teams are more than just a collection of the smartest or most experienced individuals. They are a carefully crafted combination of the right people, a growth culture, and effective leadership.

Collaboration, communication, empowerment and openness to change are the hallmarks of a high-performing finance team, but how can you build a function like this in your business?

Attract and hire the best talent

Work hard on getting your candidate attraction strategies right through creating engaging job descriptions, showcasing your business’s culture and values and highlighting development and progression opportunities.

Then, ensure you have the right recruitment process in place that gives your candidates a great experience and allows you to effectively secure the talent with the right skills, attitude and values that align with what your business is all about.

Hire with culture in mind

This doesn’t necessarily mean bring people into your business who share the same backgrounds, traits and values as you.

Instead, look to hire people who can enhance your culture and bring their own perspectives and experiences into your finance team. Doing so will improve your diversity, skillsets and ways of working and will improve the performance of your team.

Invest in your team’s growth

Employees want to know that they have a future that includes upskilling, development and progression.

Not only will this work wonders in keeping your best talent with you, if you’re constantly learning and developing as a team, you’ll be able to keep up with future innovations, demand and industry advancements.

Navigate the pitfalls with effective leadership

Challenges within any business and any finance team are inevitable, but how your team handles them is what sets you apart.

Issues such as internal disagreements and underperformance can derail high-performing finance teams and require effective leadership to find solutions and keep the team on the right path.

When these situations occur, having a team that has strong resolution skills, can provide and receive actionable feedback and a works with a solutions-focused mindset is key.