Getting the most power from your team can significantly amplify your business’ growth, writes Phil Quin-Conroy, CEO at PLAN Australia.
For your brokerage to be a success, it’s important to realise the value of working together as a team. Just as a rugby team can only win if they play together as a united force, a business will only reach its maximum potential if each member of the team is working in cooperation and respect towards a common goal.
Even if you’re not all always in the one place, creating and driving a team spirit that transcends through business divisions and geographical locations is fundamental to the health of any growing business. So, how can you ensure that you are getting the most power from your team to contribute to the overall success of your business?
Make the time for regular engagement
Yes, your clients are your priority but it’s also important to recognise that the health of your team is fundamental to driving better client outcomes and improving efficiencies. Are you meeting regularly to ensure that systems and processes are running smoothly? Making time for weekly or at least monthly check-ins is important.
Outside of formal meetings, have you considered taking part in social and sporting activities too? Fundraising initiatives are also a good idea as they can help with improving overall team spirit and morale.
Are you including all members of staff when it comes to industry events? It could be that you and your team all attend your aggregator’s professional development (‘PD’) day together. When we held our first digital PD day earlier this year, we were impressed with how many of our members got together to participate from the comfort of their own offices. Many of the attendees included support staff who might not have ordinarily been able to attend.
Take a collaborative approach to recruitment
If you’re looking to hire a new staff member, why don’t you discuss this with your team? A collaborative approach to hiring can help increase morale, as existing team members feel included and valued.
A collective approach can also help ensure the successful candidate gels well with the team. Experience and suitable qualifications are certainly important — but personality and social skills that are compatible with your team need to be considered.
Support growth and opportunity
Building the profile of your team and supporting them to develop and grow their role in the business is important for retention. It can also support you in your pursuit for growth.
Recently I spoke with a broker who wanted to expand his business, but felt too busy dealing with day-to-day client tasks to focus on strategy. To create a smooth change, he initiated the following:
By the end of this process, the broker had raised the profile of the junior team members, distanced himself from day-to-day interactions with clients and successfully remodelled his businesses so he could take a greater focus on strategy.
Don’t forget, your aggregator can also help support you and your team to evolve your business through technology and access to top-quality professional development. Building a powerful team is one thing but you need to ensure that you have access to the wider support network that a leading aggregator can bring to your business.
Phil Quin-Conroy will continue to explore how brokers can achieve long-term success with a gold medal mindset in this blog series.
The corporate regulator has provided “transition relief” for ...
The head of a risk services company has said that he “completel...
ING has announced that it is raising its variable interest rates ...