It’s not always easy for you or your team members to keep a rigorous work schedule deep into the dog days of summer. While a financial practice can’t just shut its doors for three months, there are ways to help your staff find that all-important balance between work and play.
> Switch to summer hours
“Sometimes the staff has been so busy during the year that it’s actually not a bad thing to chill out and not work at the crazy pace,” says Shannon Waller, coach and program designer for Strategic Coach Inc. in Toronto. “Restore yourself a bit.”
Waller recommends adopting summer hours — leaving at noon on Fridays, for instance — in order to reward staff for their hard work all year.
“Summer is the time to recharge,” agrees Darrell Starrie, president of Strategic Financial Concepts Inc. and director of the private client group for Dundee Securities Corp. in Edmonton. Starrie gives his seven-member team an extra day on long weekends, and staff usually rotate Fridays off, with pay. As for those who stick around, a noon departure is pretty common, he says. “People go to jail for booking appointments on Fridays,” he jokes.
> Spruce up the office
Summer allows everyone to look around and determine what would make the office more comfortable and work-friendly. Are there enough chairs or plants?
It’s also a good time for an office clean-up, says Starrie, who urges his staff to “get rid of the crap that accumulates throughout the year” in the summer months.
Waller suggests making make a game out of the clean-up exercise, offering rewards or prizes to those who complete the tasks.
> Work on long-term projects
Because the summer is usually a slow period for financial advisory practices, it’s a good time to tackle back-of-house projects, such as computer and database system upgrades and inventory tracking. It’s also the ideal season for those business-building enterprises that often can’t be addressed during the busier months.
For example, there’s no better time than the summer to roll out client feedback surveys or train new staff. Starrie likes to arrange his new hires to coincide with the slower-paced season. And it’s not just new members who undergo training in the summer. It’s also a great time to invest in cross-training, he says: “Everybody knows everyone else’s work and that’s important when there are absences or holidays.”
> Take time off
Advisors intent on taking some vacation time of their own may worry about a “when the cat’s away…” office attitude. But, Waller says, a little preparation can ease those concerns. She suggests staff meetings to review what is expected when you are away and to go over any concerns staff may have.
You have to put some faith in your staff, she says: “If you hire trustworthy people, trust them.”
> Adjust your expectations
Accept the fact that staff won’t be as productive in the summer as they are expected to be in the fall and winter. When Starrie started out in the financial advisory business, his work ethic would never allow him to leave work unfinished or take extra time off.
But today’s employees in their 20s and 30s take a more balanced approach to work and life. Instead of fighting that tendency, he’s decided to surrender to it. A happy staff makes for a better business.
IE