No matter whether you are building a team within a small start-up type of institution or within a much larger organisation, your challenges don’t change, and your approach should be based on the same principles. Here’s why!
- What does building a team mean?
- Managing teams across different locations
- The biggest challenge when building a team
- Things to avoid when creating a team
- Setting up a team from scratch: the shortage of IT professionals
- Cultural differences when outsourcing
- Top competencies in the financial industry from a fintech scale-up point of view
What does “building a team” mean?
developing a team always involves developing a team is one of the key ideas to keep in mind while forming a team. The obstacles of building a team of individuals who are to work together are always the same, or at least quite comparable, regardless of the size of the organization you are doing it for, the industry you are in, or the money you have. In the end, interacting with people and providing the finest assistance and management for them is what it’s all about.
managing teams in several places
After the epidemic, managing teams based in many regions became much simpler from a logistical standpoint. Today, everyone works from home; it has become the norm. Beforehand, It was rather odd, but the only solution if one needed to manage teams situated on many continents.
The method used hasn’t changed at all. It’s essential to comprehend the culture of the individuals you will be working with while building a team based on a certain culture. A team with headquarters in Hungary will differ from teams with headquarters in Poland, the UK, or India. Additionally, their issues and drives will differ. One must conduct adequate study to learn about the culture and background in order for the team building process to be effective.
You could be shocked by what you hear; for example, those working from India who frequently engage with businesses headquartered in various time zones and need to leave the workplace late at night when there is no public transportation, will worry about travel, while others will worry about inflation.
Meeting as many people as you can, being accessible to anybody who wants to chat, and interacting with individuals within the company you work for are the best ways to learn about these difficulties. A manager can only comprehend what drives the team and how it functions in this manner.
The biggest difficulty in assembling a team is
The greatest issue in building a team is getting individuals to understand the culture you want to create. To do this, the manager must be clear on the principles the team must uphold and must be able to effectively communicate those values to all team members. You must always adhere to them, no matter what.
How should I deliver this message? It’s crucial to set aside time to discuss it with every team member, to go around the office (personally, if feasible, or electronically, by scheduling separate meetings), or to organize a large team meeting if speaking to everyone individually is physically difficult. All those meetings and discussions will help time pass. on the subject of your preferred working style and the things that are most important to you.
After the initial period of introduction, it is essential to be able to articulate your operating model to others, to support the choices you took and to demonstrate your commitment to those choices even in the face of opposition. You are still listening to various points of view, it’s just that sometimes in positions of leadership you have to make and uphold decisions.
You need to be prepared for uncomfortable talks while developing a team, and it’s important to keep your KPIs in mind then. The human-centered approach is crucial and should always be at the forefront of everyone’s mind, but if someone is undermining it as you are about to have a difficult talk You need to have facts and KPIs that speak for you in order to establish your credibility.
Things to stay away from while forming a team
It might be challenging to maintain the proper balance between being overly rigorous and taking too much criticism when you are in a fast-paced atmosphere. The primary piece of advise would be to never make hasty decisions without giving them careful thought. There may be difficult times when people doubt you or dispute you, but you must stand firmly by the choices you make and the group you support.
Too many changes might become unstable, which makes it harder for others to understand your clear course.
assembling a team from scratch: the lack of IT specialists
When building a team from start, the first thing you need to know is precisely who you need: vendors, managers, service management, data, architecture, security, the engineering team, dev ops, and all other positions.
Top tips for selecting a technology team:
pick those who can overcome obstacles when they emerge and have a strong can-do attitude;
be upbeat at all times;
Always seek for individuals who will match your culture and philosophy.
You must also take the state of the market into account while putting up a tech team. These days, IT specialists are hard to come by, and you might need a lot of them. For this reason, before building a team, choose the model you want to use: either a permanent group of individuals you hire, or a combination of full-time workers and an outsourced partner.
If you choose the first option, choose the ratio: is it 30 to 70 percent of your own workers and 70 percent of external personnel, or is it 50 to 50?
Once you’ve established your mix, you need to decide exactly what you’re going to outsource, how you’re going to accomplish it, which experts will come from the outsourcing company and which you’ll hire. It’s crucial that you construct the model yourself, determine the proper balance, and pick which components you want to do on your own and which you want to delegate to others.
variations in culture while outsourcing
Remember that your outsourcing partner ought to be the best match for your business once you’ve decided on the outsourcing strategy you wish to follow. After all, even the greatest contract you can get won’t matter if you can’t get along with people and the teams won’t cooperate. sign is just pointless. Therefore, if you want your partnership to be effective, you must become familiar with the business you are about to work with, including their expertise, adaptability, and quality.
Top financial industry skills from a fintech scale-up perspective
Finally, a few comments regarding the skills required in the fintech industry. While having industry experience is always highly desirable and necessary, it should never be a barrier to employing someone with a different background. Given that varied backgrounds typically result in different perspectives, such an approach may even prove advantageous.
Some fields, like health tech, are more tight than others, but the fintech sector is far more open and welcoming of people from all backgrounds.
WHO ACTUALLY WROTE
Georgina Owens is the CTO at Liberis, one of the Top UK CIO 100 for 2019 and 2020, one of the UK’s Top 50 Most Influential Women in Tech for 2020 and 2021, and both a nominee and a winner of the Women in IT Awards.