A continuación, te explicamos cómo puedes comunicar las expectativas financieras al delegar responsabilidades.

When delegating a new task to an employee, I like to schedule quick, casual check-ins. These sessions provide a space for employees to ask questions and for employers to review work, ensuring the required information is accurate and clear for everyone. This approach fosters better understanding, efficiency, and a more collaborative work environment.

To communicate financial expectations when delegating: 1. **Set Clear Goals** 2. **Define KPIs** 3. **Share Budgets** 4. **Explain Importance** 5. **Provide Support** 6. **Schedule Check-ins** 7. **Encourage Open Communication** 8. **Document Expectations** 9. **Offer Feedback** 10. **Clarify Consequences**

Delegating Finances? Define Goals First! Clear financial goals are key when delegating tasks. Knowing the "why" behind the numbers boosts motivation & accountability.

When delegating responsibilities that involve financial expectations, it's vital to communicate clear deliverables to ensure everyone is aligned. Here are some helpful tips: 1. Specify Budget Limits: Clearly define the financial boundaries or specifics within which the delegated task or project must operate. 2. Detail Financial Objectives: Clearly articulate the financial goals or outcomes expected from the delegated task. This might include revenue targets, cost savings, profitability goals, etc. 3. Discuss Resource Allocation: Ensure the delegate understands any constraints related to resource allocation. 4. Clarify Reporting Requirements 5. Provide Context 6. Encourage Questions and Feedback 7. Document Agreements 8. Offer Support

Mi experiencia en distintos tipos de empresas familiares, sociedades, multinacionales, etc... me dice que es muy importante planificar previamente todas las inversiones previstas para el futuro de la empresa y evitar sorpresas. Hay que poner a los mejores al frente de la financiación y definirle claramente cuales son sus objetivos, para eso primero hay que saber a donde queremos llegar para saber planificar el viaje y aprovechar el camino, bien para recoger oportunidades y/o soltar lastre, si llegado el caso fuese necesario.... Es muy importante aclarar lo que se pretende conseguir y marcar objetivos concisos, concretos....

Draw boundaries around any operational constraints or financial limitations that need to be taken into consideration. This will also provide better context to team members so that they know what obstacles they are up against. It also establishes more trust and credibility for you as a finance leader when you provide more information than is expected to your team that makes their lives easier.

Durante mi trabajo en Flow Investing Capital, establecíamos parámetros claros para cada responsabilidad delegada usando criterios S.M.A.R.T. Utilizábamos dashboards interactivos, apoyados por Power BI, para definir y monitorear métricas clave de desempeño (KPIs). Al definir parámetros específicos, como márgenes de beneficio o tasas de crecimiento, pudimos alinear mejor las expectativas y proporcionar un marco claro para la evaluación del desempeño.

2. Set Budget Parameters: • Provide a detailed budget for the task or project, including maximum allowable expenses and expected cost savings or revenue generation. • Explain any limitations or flexibility within the budget, and specify which expenses need prior approval

It is always worth investing in tools that will bring back a great ROI in many measurable way's. Having the correct software and the correct information and to be able to use the data as a decision-making tool is crucial to any business. Withholding information to a team that needs to create reports, is absolutely counter- productive. Be clear and concise in your direction of what you want to do with the data, so that the vision can be shared and understood by all. A synchronized team all working from the same page will get the highest results. ROI can be in saving time and being able to work on other things, which in turn is also a monetary gain, for both the employee and company.

En Flow Investing Capital, nos asegurábamos de que cada miembro del equipo tuviera acceso a los recursos necesarios. Implementamos plataformas de aprendizaje en línea, como Udemy, CoderHouse y Coursera, para que pudieran adquirir nuevas habilidades y conocimientos. Además, proporcionábamos acceso a software avanzado de análisis financiero y herramientas de IA como ChatGPT, lo que les permitía realizar sus tareas de manera más eficiente y precisa.

When delegating, ensure you are clearly communicating your expectations and due date, including if recurring. If this is something you have done before, walk through your experience at a high level. Encourage your team member to approach it with a curious mindset and look for improvements. Many times when handing something off, new and improved iterations come through because new eyes are on it. I'm not big on meetings so I suggest email or as needed check-in's depending on the level of the task.

A leader can effectively communicate financial goal expectations by delegating responsibilities and ensuring the team has all necessary resources. Providing clear, achievable financial targets is the first step. Equally important is equipping the team with the tools, training, and support needed to succeed. This includes access to relevant data, software, and expert advice. Regular check-ins and feedback sessions help to keep the team on track and address any challenges promptly. By combining clear communication with adequate resources, a leader can foster an environment where financial goals are understood and achievable, leading to higher performance and accountability.

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Supervisar el progreso es fundamental. En Vivo Chile, implementamos un sistema de seguimiento semanal de los aportes comerciales a ciertos productos para tener una trazabilidad financiera del producto, y con ello generar informes automatizados sobre el desempeño financiero. Estos informes permitían realizar ajustes en tiempo real y proporcionaban una visión clara de cómo se estaban cumpliendo las expectativas de margen por producto en relacion al volumen de venta. Este enfoque proactivo ayudó a identificar y resolver problemas antes de que se convirtieran en obstáculos significativos en el control del clash flow.

Check-in often. Establish an ongoing monitoring process to track financial expectations and milestones. An easy way to do this is by setting quarterly check-ins for an annual employee target to ensure that consistent progress is being made. It takes the stress out of not knowing performance outcomes until shortly before the end of the period.

A leader can effectively communicate financial goal expectations by closely monitoring team progress. This involves setting clear financial targets and maintaining regular, open communication. Frequent progress reviews and one-on-one meetings allow for real-time feedback and adjustments. By being present and engaged, a leader can address issues promptly, provide support, and celebrate milestones. This constant involvement ensures that team members stay focused and motivated, aligning their efforts with the organization's financial objectives. This proactive approach fosters accountability and enhances the team's ability to meet financial goals.

4. Regular Financial Reporting: • Establish a schedule for regular financial reporting and updates. This could be weekly, bi-weekly, or monthly, depending on the project’s complexity. • Specify the format and content of these reports to ensure consistency and clarity.

I have seen both cases where this approach really works with a wider number of people, and does not unfortunately work with a few who have a mindset that it's okay to miss the targets. Employees with a negative mindset require different approach and must be dealt with differently.

Fomentar la retroalimentación continua fue una práctica clave en Flow Investing Capital. Utilizábamos encuestas a ciega, couching 360º, plataformas de comunicación interna para recopilar opiniones y sugerencias de todo el equipo. En una ocasión, una sugerencia del equipo sobre la optimización del flujo de trabajo resultó en una mejora significativa en nuestra eficiencia operativa. Esto no solo mejoró los resultados financieros, sino que también aumentó la moral y el compromiso del equipo.

5. Encourage Open Communication: • Foster an environment where the person feels comfortable asking questions and seeking clarification about financial matters. • Be available for regular check-ins to address any financial concerns or challenges that may arise during the project

Recognizing and reinforcing successful financial management is crucial. This approach not only enhances morale but also encourages the desired behaviors and outcomes. 🌟 Celebrating these milestones provides positive reinforcement, inspiring your team to meet and surpass financial targets. It's akin to giving a well-deserved high-five; it acknowledges their hard work and motivates them to keep up the excellent performance. 🎉 By highlighting achievements, you cultivate a culture of excellence and accountability, pushing your team to uphold high standards and continually strive for improvement. Such recognition fosters an environment where everyone feels appreciated and motivated to achieve even more. 💪

Know your people when deciding how to reinforce success. It's not about what matters to you in terms of recognition and praise, it's what matters to the people who did the work. Reinforcement can take many forms such as verbal, written, public recognition, article in company magazine or web site, food, money, time off work, etc. Different people will react differently to these different tactics, so choose the one(s) that will positively impact the most people.

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In order to avoid any form of ambiquity when delegating responsibility about FINANCIAL expectations, it is important to follow the steps listed below 1.Define financial responsibilities 2. Specify budget constraint 3. Outline Spending Limit 4. Discuss & Specify Approving Authority & Limit 5. Outline financial Reporting Requirements 6.Use financial Metrics for measuring performance 7. Allow free flow of Information, Open Communication & feedback mechanism to be in place. With the above steps when implemented to the letter, we can be sure of better financial performance results at the end of the defined period. Thanks