Humanized Digital Transformation Encourages Retention Among Your Finance Team

The need for digital innovation is especially true for financial team members, many of whom began navigating their jobs from remote settings for the first time in their careers.

While finance professionals learn to adapt to the changing virtual workplace, regulations continue to evolve and expand, creating a stronger need for digital transformation to make their jobs more straightforward, accessible, and enjoyable.

No matter what digital transformation methods companies decide to implement, the first step should be ensuring they help meet and exceed employee expectations.

When figuring out how to improve employee retention, you must focus on upskilling employees.

It is your responsibility as a leader and finance professional to help your employees set and achieve goals within your organization. This means identifying growth opportunities and setting people up for success by providing them with the tools they need to fulfill their roles successfully.

Large companies might be more attractive when compared to small and medium-sized companies or tech startups as they tend to have more resources for employee growth and development, but smaller companies still have key advantages. One benefit of smaller organizations is the accessibility to the company’s CEO.

Finance professionals can learn and develop skills quickly when working closely with the CEO to make business decisions. Giving your finance team more facetime with leadership can both inspire growth in current employees and help attract new talent.

Teams can coordinate high-value projects, delegate tasks with paper trails, and set appropriate deadlines to hold team members accountable. Digital resources help define goals and tasks, set standards for accountability, and facilitate processes so employees can better meet deadlines.

Finance digital transformation should be about implementing better technology to improve employee morale and retention. The right technology automates manual and mundane tasks, streamlines workflow complexities, and reduces repetitive work.

To find the right tech tools for your finance team, focus on three key objectives: evaluating processes, researching solutions, and streamlining operations.

First, evaluate processes to uncover potential bottlenecks in your workflows. If you want to expose these bottlenecks, go straight to the source. Create a survey to find out your employees’ pain points and obstacles.

Research vendors to determine the right software solutions. After choosing and implementing a solution, it’s time to review metrics like project completion times and employee retention to see if your chosen tech tool is helping in the way you’d hoped. If not, it’s time to go back to the drawing board.

No one is immune to the Great Resignation; however, if you take the proper measures for meaningful finance department transformation, you can do your part to improve your company’s finance employee retention. Try new approaches, communicate with your employees, and be open to new ways of working.

Image Credit: Provided by the Author; Thank you!

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