Becoming a great leader within the accounting industry means having the flexibility to transform and rebuild your values and ways of thinking. Taking inspiration from President John F Kennedy who was quoted saying, “leadership and learning are indispensable to each other” - leadership is about remaining open to new insights, fostering the ability to change, and motivating those you lead through education and action.
If you are within a leadership role in your firm, you will likely have your own set of standards used to guide your staff to success. Some tried and true methods like open communication, leading by example, and providing guidance are worth their weight in gold. But how do you continue to improve and grow your strength as a leader? We provide five pathways designed to improve upon your skills as a leader and how they can work for your firm.
A supportive workplace at the helm of an empathetic leader is designed to succeed. The ideal outcome is that your staff will feel they can approach you about a whole host of topics from wellbeing support to career progression, or feedback about concerns. Encouraging open communication and enacting professional boundaries allows for this dynamic to bloom. Recognise and celebrate achievements, provide constructive criticism where needed, support your staff member to reach their goals and utilise active participation so that your employee can rely upon your leadership.
The core values of empathetic leadership are active listening, open-mindedness, and validation. Whether you agree with your employee about their perspective, if you lead with an empathetic tone, the opportunities to connect with your staff and provide mentorship will grow. Allowing for flexibility and autonomy is a primary priority when looking to maintain a high level of retention and can set you apart when recruiting new staff.
Do you have a staff member who is looking to advance their career in the advisory sector? Or do you have an employee who is looking to rise through the ranks within your tax services? Understanding what motivates your team allows you to dive deeper into the reasons why your firm is their choice and what you can do to encourage those motivations.
Accountants within Australia have used the DISC (Dominance, Influence, Steadiness and Conscientiousness) test to assess their employee’s main drive when it comes to working within the field. Using tests like this can help you understand why certain team members gravitate toward particular factions within your firm, paving the way for you to support them to succeed and guide them into paths that benefit both your firm and their career progression.
Negativity and pessimism is a known morale enemy. Your job as a leader is to foster an atmosphere of positivity and optimistic problem-solving. When a problem arises, it’s important not to play the ‘blame game’ and focus your attention on driving a solution-based attitude. Not only will this allow you to lead by example, but it offers a supportive workplace where staff can approach you without hesitation.
Accountability as a leader is one of the most crucial skills to hone to ensure your staff can see how you handle resolution and transparency. Knowing that everyone needs feedback in order to truly grow and learn, taking accountability for any human mistakes or oversights shows that you embrace vulnerability and are able to rectify and resolve with confidence.
What sets you apart from other leaders is the ability to embrace your own personal unique values and implement them within your firm. If you find that one on one mentorship is where you excel, then let your strengths lead the way. Perhaps you thrive in a collaborative space. Gather your team and work together with them with a hands-on approach to ensure everyone can feel supported at the same time.
The true mark of a great leader is the ability to step outside of the usual rules and make the role their own. Leadership comes in many forms and the ones that are unique to your own values will be the most memorable. You may like to engage with your staff on a grassroots level and show how to lead by example. Or, you might like to allow for full autonomy, leaving the responsibility to excel in the hands of capable staff members. Uniqueness is the guiding force between an average leader and a great one.
Your business plan is one meticulously invented and edited over time. The strategy to success is one that can be very personal to a firm’s owner; however you can run the risk of leaving your staff in the dark with your goals. Sharing your business strategy allows for true collaboration and encourages your staff to see your outlook, driving the success of your vision home.
Communicating your goals with your staff is a crucial way to encourage motivation, drive, and teamwork. You can increase transparency and trust, while enhancing productivity and encouraging valuable feedback through supportive leadership.
