Public policy response to the pandemic, mandating lockdowns and other restrictions on commerce, has created special challenges for business. Recruiting now comes with a unique set of considerations, along with the integration of new employees. Hiring and on boarding new staff remotely is new territory for most of us and working from home. The terrain needs to be navigated with a clearly defined strategy on team building.
What constitutes a strategy for building an organisation?
How is high-performance teams constructed?
Is there an overriding philosophy to putting together a winning squad of players?
Business often looks to sports for inspiration, guidance and example. There are many instructive parallels. Take Football, for instance. Football is played just like a commercial finance business, with offense and defence operating together simultaneously. Credit sales and risk management function together for a common goal. Portfolio management needs to be alert for new opportunities while maintaining a focus on the calibration and response to changing risk.
In Football, there is one school of thought that gets a great deal of currency: when building a winning team, start from the goalkeeper and work outward. A strong Goalkeeper, coupled with a strong defence, creates a sound foundation able to defend against even the toughest of opponents. Add a capable offense to that formula and the team can now mount an effective attack, gaining advantage while keeping threats to a minimum with a strong holding midfield defence minded player.
Commercial finance operates much the same. However, instead of focusing on your own goal, the starting point is the customer. In hockey, you’ll never pull ahead if you’re scored on repeatedly. In finance, if you can’t win and retain customers from your place of business, there is no business to be had. Building a high-functioning team means keeping a focus on the customer, recruiting balanced and capable account managers, adding experienced new business and underwriting capability, and strengthening it with management that can effectively set strategy and help people work well together. Borrowers are all coping with their own special challenges. Addressing their needs is the foundation for any measure of success.
However, high-functioning teams aren’t built from the top down or the bottom up. Instead, winning organizations are created from the inside out. Focus on your customers first and foremost. Hone your recruiting and hiring strategies with your borrowers in mind. You’ll find that winning teams can be built in difficult times, even when they can’t all take the ice together.
Global Asset Finance Limited will show you a positive way forward!