You May Be Unknowingly Contributing to Team Unhappiness: How to Fix it

What is the biggest threat to your team members’ happiness and engagement?  You might presume it’s their feelings regarding their compensation, or perhaps perceived lack of room for growth. In actuality, the biggest threat to their happiness is when they are hired for a job and not given the freedom to do it. Worse yet, is when a leader openly appears to have faith in his team members abilities, only to question it at a later point or micromanage it behind the scenes.

We all know the difference between being a true team leader and a manager is found in one’s capacity to motivate and build his team members as leaders. The ability to execute on this is where many almost successful leaders miss the boat on becoming true leaders. While the distinctions seem small, failing to do the below will eventually cost you your greatest asset, your financial advisory team members: 

Have faith in your hiring instincts: One of the greatest rewards of building a team is in knowing that you’ve reached the point of hiring those with the ability to do certain aspects of the job better than you, giving you the freedom to focus on what you are uniquely gifted to do. If you define and prospect these roles accordingly, you should proceed by having faith in your instincts to let them do their jobs, or learn from their mistakes if they fail trying.

Foster an environment of co-creation: This is important. Enlisting the help of your team members in creating your overall company goals, as well as their individual goals, will increase your confidence in their commitment and ability to do their jobs. It will also encourage enthusiasm and engagement from your team members.

Set clear guidelines up front: Part of the role of co-creation is allowing all your team members to determine, as a group, what occurs when they succeed together and when they fail together. Knowing that your team members are clear on, and mutually agree to, the processes that take place in these scenarios, will provide comfort to you and increase your faith in their ability to do their jobs. 

Allow them to learn from their mistakes: Providing your team with the experience of well-executed failure is as important as providing them with the experience of success. Sometimes trying at something and failing can be the best lesson a young CSA, advisor, or partner can learn. People tend to gain and retain more knowledge from their mistakes than their successes.

When a team member shows initiative, let them take it: There is little else more inspiring for a young team member than when they can take the initiative to create and follow through with a plan to help the company toward its goals. But while the desire to execute may be great, it can be easily squashed by discouragement or interruption from their leaders. Instead, try to find a way to encourage team members without interfering or inserting your opinion. If you’ve hired and invested in them properly, give them the opportunity to succeed at their own will. If they fail you are simply giving them an opportunity to learn from their mistakes.

Embrace the power and company of your numbers: One of the greatest benefits of being on a team is the ability to celebrate your successes, but don’t overlook the camaraderie that occurs while working through challenges that allow your team to grow and reach new levels of success. All of these experiences, good, bad, and difficult, are richer and more valuable when experienced in the company of your team.

Get your team members together to socialize: The idea is to allow your team members to be comfortable enough to open up to you with their unique ideas and contributions. Sometimes sitting around a dinner table or the bar provides a better environment for this than the conference room table. 

Coaching questions from this article: 

1. How are you sharing the responsibilities of creating success for your business with your team members?

2. Are you actively encouraging your team members to take initiative and lead?

3. Are you creating an environment in which your team members feel comfortable experiencing both failure and success?