
3 minute read
Creating a Culture of Teamwork and Collaboration
Allow team members to take ownership, realize the importance of each role in the bigger picture, communicate constantly and have each other’s back.
By Juli McNeely, LUTCF, CFP, CLU
You’ve likely heard of the Helen Keller quote, “Alone, we can do so little; together, we can do so much” or the African Proverb, “If you want to go fast, go alone. If you want to go far, go together.”
Well, I, for one, would like to “do so much” and would like to “go f ar.” One of the best decisions I’ve made in financial services was to grow my team. Yes, I could act as a solo practitioner, but we are so much more effective as a team for many reasons. These may seem obvious to many, but they are worth writing down to get to a starting point:
Capitalize on Diversity. Utilizing different perspectives, skillsets and life experiences can only make your team stronger. For example, do you have multiple generations represented on your team? If your answer is yes:
• What is the value to the firm in having that diverse perspective? How can you capitalize on that to better serve your clients?
• Will having a younger team member help you better relate to the children of your clients? Will a younger team member bring more energy to the team about using new technology?
• Will a team member faced with caring for their elderly parent or parents bring a perspective as your own clients begin to face the same challenges?
Play to Your Strengths. Instead of doing it all, begin to find the beauty in doing what you’re the best at. Hiring to my weaknesses certainly has helped me enjoy what I do more. It has also seemed to increase my time, since what I’m not fond of doing tends to take me longer because it’s just not my thing.
Key s to success
So, what are some of the key ingredients for building a high-functioning collaborative team?
1. Create a culture in which team members are allowed to take ownership. Don’t give directives strictly from the top. Allow them to be part of decisions and allow them to represent their area of expertise in the process. We have monthly meetings to discuss new initiatives, and that is exactly what we try to do in our firm. For example, an idea may seem amazing to the sales team, but to the support team, it may be impossible to implement in the proposed timeframe. Make adjustments based on the collective group’s feedback, and you will have a higher likelihood of success.
The coming together of collective minds allows us to put our best foot forward with our clients.
2. R ecognize that each role plays a valuable part in the bigger picture. Without a role filled, the success and productivity of the entire team is affected. When each team member has a sense of purpose and sees the piece of the puzzle they complete, they know their job matters. Celebrating successes together only solidifies this within teams.
3. Emphasize constant communication as projects and cases get shifted from one person to the other. If you are focused only on what you are good at, then you will, at some point, be making a “hand-off” for a period of time. Developing a process and workflow becomes critical when teaming. Without a process we are likely to fail or to let something or someone slip through the cracks. The teams that do this seamlessly find great success.
4. Have each other’s back and support each other like family. In our office, no job is beneath anyone. If something is critical and needs to be done, we say “all hands on deck.” Together, we get it done. We also find time to just simply have fun together, often outside of work time.
The coming together of collective minds allows us to put our best foot forward with our clients. It also helps us find greater joy in our work, helps us create a model that is built for the long term and allows us to serve our clients more completely. I wish you great success!
A 22-year veteran of the financial services industry, Juli McNeely, LUTCF, CFP, CLU, is president of McNeely Financial Services in Wisconsin. She is a past president of NAIFA, having served as the first female president. She is author of “No Necktie Needed: A Woman’s Guide to Success in Financial Services” and founder of Juli McNeely Consulting LLC. She is also an active member of MDRT and is affiliated with Woodbury Financial Services. You can reach her at juli@mcneelyfinancial.com