Tips for Successfully Managing Remote Teams and Finances
By: Priscila Correia
Remote work is not new, but 2020 definitely marks an important shift. In the past few months, companies and business owners worldwide felt the pressure of moving their teams to work remotely for the first time. And, naturally, this came with several challenges.
From keeping the same levels of productivity to moving everyday operations to online channels, leaders need to ensure remote teams have the necessary resources and tools to be successful while keeping finances organized.
Here are some tips on managing remote teams and finances that can help you set your business for success.
Be transparent about finances
Financial stability is a huge concern for both leaders and employees during these uncertain times. That’s why you need to be transparent about your team’s finances and do the best of your abilities to ensure payments are done in time. Be transparent about reduced hours and check in on how employees are handling financial stress. In addition, providing a space online (be it a Slack channel or knowledge portal) to share insights and links to relevant resources creates a sense of community and support among your teams.
Electronic payroll systems are also very beneficial for remote employees who have to manage their money on the go. As some employees may take advantage of an online budgeting and banking app or a money management software on a desktop, this makes it simple and convenient for their finances.
Set new budget priorities
Sit down with your team and brainstorm ways to adjust your budget and business model so you can still make sustainable revenue. By budgeting and planning, you can avoid risk as a team and stay afloat through these uncertain times.
Since your teams are working remotely, this is a huge opportunity to reduce operational costs. Take time to review the costs associated with running a dormant office and reinvest in some other areas that might require attention. For example, your employee’s wellbeing or new digital tools to improve productivity.
Conduct daily or weekly calls
In times of remote work, communication is crucial to keep productivity levels and build relationships. And forget messages or emails. The most effective way to stay in touch with your remote teams is through voice or video calls.
Like other companies in the software industry, my team at Helppier has been required to work remotely full-time. And, as a company following Scrum methodology, our development team always starts the day with a Stand-Up meeting. This meeting consists of a brief explanation of the following questions:
What did you accomplish since the last meeting?
What are you working on until the next meeting?
What is getting in your way or keeping you from doing your job?
We recommend using tools like Slack to stay in touch with your team members as you can easily send messages and files. For large group meetings, we use Zoom as it’s very quick to setup via link. Other popular tools you can use include Microsoft Teams, Skype for Business, and Hangouts.
Also, be mindful and flexible when scheduling meetings. Talk to your team members to define the best times to meet and bring an agenda with key subjects so you all can stay focused during calls.
Set the right digital tools
Staying connected is one of the hardest challenges of remote work. According to Polycom, 62% of remote workers want employers to provide better technology that helps them stay connected with colleagues. With that said, setting up the right tools will help boost collaboration and manage different projects from a distance.
In addition to communication tools, there are three types of software that you should consider:
Knowledge Management tools
Project management tools
Software training tools
Knowledge Management tools
This is not said enough: sharing information with remote teams is time consuming. Most of the time, information is scattered between Excels and PDFs, becoming difficult to control updates and even share feedback. If you already use file sharing platforms, then you know how long it can take to find the right file when replying to emails and phone calls.
A knowledge management system will allow you to centralize internal information in a more appealing dashboard. This way, employees can find information quickly and update it in real-time. They can also leave notes, comments, and messages directly, boosting overall collaboration.
Project management tools
For business leaders and project managers, it’s imperative to use a software that highlights time-critical data — listing client-specific goals, due dates, and implemented actions for completion. But before you jump into a project management software here are some good practices to consider:
Outline clear processes for each role and project
Ensure deadlines are set in advance and agreed upon
Find a project management approach that empowers your team to get more done
Following Scrum methodology, at Helppier, our development team works with Sprints. The tasks are defined for a 2-week period. On each Sprint, the project manager defines the tasks and discusses with the team so everyone can share feedback. We use Jira and Trello to keep track of everything. Basecamp is another popular option in the market.
Software training tools
Think about this: we use software to send emails, organize tasks, book vacations, plan our business strategy, and the list just goes on. Naturally, some of the tools your company uses require a learning curve. When employees are at the office, it's easier to explain these tools through a quick face-to-face meeting with a mentor. But when you have a remote team, you will need to find more autonomous ways for employees to learn.
Tutorial Videos are an effective way to teach remote employees how to use a specific platform. According to Forrester Research, employees are 75% more likely to watch a video than to read documents, emails, or web articles. You can, for example, record a tutorial video on top of your software and present them inside the platform itself, or export the files to share via email or chat. Every time your employees need help performing a specific task online, they can just watch the video and get things done quickly.
From adjusting your budget to providing the right digital tools, managing remote teams is a challenge that can be overcome. Communicating with your team and being transparent will help you be successful during these chaotic times.
Remember that remote is the new normal, so don't be afraid to change processes.
Priscila is the Marketing Manager at Helppier, a software company that allows creating beautiful user guides for the web, without coding.
