4 Steps to Delegate More Effectively

Every successful leader knows that delegation is essential to achieving maximum capacity. The key question, however, is whether or not you’re approaching delegation based on the needs of the organization; or whether you’re just delegating tasks you personally dislike, in an effort to remove them from your plate.

You see, there’s a genuine science behind effective delegation—one that can transform your organization based on a simple shift in mindset from the personal to the organizational. Start thinking about delegation as a performative opportunity for others to learn and grow and lead. If you truly seek to maximize enterprise value and build a more enduring firm, then developing others within the enterprise needs to be at the top of your priority list.

Without effective delegation skills, leaders soon become an organizational bottleneck—with team members lined up waiting for answers to questions or instructions on what to do next. If you’re unable to personally let go of certain responsibilities, you’ll ultimately end up with less time to focus on the ‘high impact’ parts of the business that bring you the greatest joy and sense of fulfillment.

The science behind effective delegation is based on the following four fundamental steps:

1. Delegate outcomes, never tasks
2. Delegate authority and empower your team
3. Delegate accountability (including timelines and budget)
4. Delegate responsibility for each outcome

Delegating Outcomes

Start by clearly defining the goals and objectives of the task or project; outlining the desired results, and ensuring your team understands your expectations. When you do this effectively, you help imbue your team with a sense of purpose and direction. Make sure you take time to:

• Set Clear Expectations: To avoid any misunderstandings, be as precise as possible when defining the specific outcomes you want to achieve. For example, if you're delegating the task of analyzing a client's portfolio, outline the exact criteria and benchmarks you expect.
• Align with Long-Term Goals: Ensure that any delegated outcomes align with the firm's long-term goals. This helps your team understand the bigger picture and how their contributions impact the firm's success.
• Empower Creativity: When defining outcomes, leave some room for creative problem-solving and innovation. Encourage your team members to bring fresh ideas to the table, as this can lead to more effective and efficient processes and solutions.

Delegating Authority

Entrust your team members with the decision-making power necessary to accomplish whatever tasks you choose to delegate. Set up established boundaries, but give them the freedom to make choices within those parameters. To be successful, you must:

• Choose the Right Team: Assign tasks to team members who have the expertise and skills required for the job. By doing so, you’ll be able to more confidently delegate authority, knowing they are equipped to make informed decisions.
• Set Boundaries: Clearly define the limits of authority. This ensures that your team knows the extent to which they can make decisions without seeking your approval. While allowing autonomy, you can still maintain control over critical aspects.
• Encourage Communication: Promote open communication between team members. Encourage them to collaborate, share ideas, and seek guidance when and where needed. A well-informed and communicative team will inevitably make better decisions.

Delegating Accountability

Hold your team members responsible for the outcomes they’re expected to deliver. Your goal should be to establish a culture of ownership and ensure that everyone understands their specific role in achieving various goals.

• Establish Metrics and KPIs: Define key performance indicators (KPIs) and metrics that will be used to measure progress and success. This provides a clear benchmark for accountability.
• Conduct Regular Check-Ins: Schedule regular meetings to review progress and discuss any challenges. These meetings help keep your team on track and allow for timely adjustments if necessary.
• Reward and Recognize: Incentivize and celebrate team members who consistently meet or exceed expectations. This reinforces a culture of accountability and motivates others to perform at their best.

Delegating Responsibility

Assigning specific tasks and duties to individual team members requires distributing the workload efficiently—to maximize productivity and best leverage individual expertise.

• Match Skills to Tasks: Delegate responsibilities based on each team member's strengths and expertise. This not only improves efficiency but also boosts morale, as team members are more likely to excel in areas where they feel confident.
• Cross-Train: Encourage cross-training within your team. This ensures that team members can cover for each other whenever needed, and reduces both bottlenecks and dependencies on specific individuals.
• Provide Resources and Support: Make sure your team has the necessary resources, tools, and support to fulfill their responsibilities effectively. This may include access to specialized training, the latest technology, or additional team members as capacity demands.

Effective delegation is a powerful tool for leaders seeking to boost productivity, develop their team, and achieve their long-term goals. By delegating outcomes, authority, accountability, and responsibility effectively, you create a culture of ownership and collaboration that drives success and provides your team with an invaluable opportunity to learn, grow, receive feedback, and build confidence and trust with peers.

Remember, however, that delegation isn’t a one-time event but rather an ongoing process. As your team evolves and your firm's goals change, you may need to adjust your delegation strategy. But by following these simple steps, you’ll soon be surprised to see how quickly team members find new and innovative ways to achieve optimal outcomes on budget, and either on or ahead of time.

Coaching Questions From This Blog:

1. Think about your firm’s current day-to-day operations. What tasks and responsibilities most often become a bottleneck and how could you realign the organization to bypass those obstacles?
2. What specific actions will you commit to undertaking in an effort to delegate more to team members and future leaders so they can more actively share in organizational decision-making?
3. How will you go about helping your team members develop a clearer, collective idea of the results they’re working towards as well as the goals, outcomes and metrics that will define success?