Is your financial services company reaching the goals you set forth at the beginning of 2019? If not, there’s still time to turn things around and ensure all goals are met by the end of the year.
Without the hard work of employees, it’s impossible for a company to achieve its goals. Supporting employees in ways that allow them to function effectively within their roles is the surest way to help your financial services company make 2019 its strongest year yet.
3 Tips for Getting Your Financial Services Company On Track to Achieve its Goals for 2019
Getting your financial services company on track to achieve its goals for 2019 doesn’t have to be complicated. These tips will help you get things moving in the right direction:
1. Give employees clear directives about how to meet company goals — Your employees may be aware of the company’s goals for 2019, but do they know exactly how they should be contributing to meeting them? If not, your organization is not alone. A study by Gallup indicated that just 22 percent of employees “strongly agree that their organization’s leadership has a clear direction…”
If your company isn’t hitting its goals for this year, communicate them again to employees. Then comes the most critical step: give employees clear directives about what their individual roles are in ensuring the company meets these goals. Regularly check in with employees to assess their progress.
2. Offer employee incentives for progress — If incentives are implemented correctly, they will give employees the motivation needed to do their part in helping your financial services company meet its goals for this year. “For incentives to work, they need to be unambiguous and directly tied to a measurable action or achievement. Otherwise, there is too much risk of both underperformance and decreased job satisfaction,” wrote a contributor to Forbes. This lack of ambiguity ties into the clear communication mentioned earlier.
Incentives can range from verbal praise and public recognition to large prizes and trips. It all depends on what your company can afford and how over-and-above employees go to contribute to meeting yearly goals.
3. Train employees to perform effectively — If your employees do not have the skills or resources to do their part in helping the company meets its yearly goals, things will continue to fall short. For example, imagine that a banking institution supervisor gives each employee a clear directive to contact 20 customers each week via phone to discuss their needs and satisfaction with service. While every employee has the ability to make a phone call, only those with prior customer service training will know how to build rapport with customers and ensure their needs are being met. Providing a short segment of customer service training can equip all employees to perform effectively and contribute to yearly goals being met.
Set Your Financial Services Company Up for Success
Whether your financial services company is keeping up well with its goals for 2019 or not, it’s never too late to optimize your business strategy. By giving employees clear directives about how to help the company reach its goals, offering them incentives for their progress, and training them to perform effectively, you can set your staff and company up for success.