The Future of Work
Mastering the Art of Delegation for Accountants
It’s no secret that accountants are leaving the industry, and doing so in droves.
I’ve covered this topic in prior articles, but as a quick recap, 300,000 accountants and auditors left their positions between 2020 and 2022. On top of that, enrollment in accounting degree programs is down 17%. Talk to any accountant, and you’ll hear that they’re struggling to attract and retain talent in their department.
What gives?
FloQast’s latest market research initiative Controller’s Guidebook: When Accountants Dare to DreamWhen Accountants Dare to Dream sheds light on a growing problem: accountants don’t feel fulfilled. Many surveyed believe there’s a better way to get their job done.
Leveraging technology and delegating is one way to help professionals find fulfillment in their position, get more done, and feel confident in the work that they’re doing. Mastering delegation requires a strategic approach and some prep work, but it’s worth the effort.
Mastering the Art of Delegation One Step at a Time
If you delegate, you can:
- Spend more time on high-value tasks
- Do more of what makes you feel fulfilled
Let’s get started.
Document Your Processes
First, you need to document your processes. If you want someone to do the same task consistently, you need to document your processes step by step.
For each task you plan on delegating:
- Write out clear, step-by-step instructions
- Consider screen capture or video for more complex tasks. Tango and Loom are two of my favorite apps to help with capturing processes.
Documenting your current processes ensures that they’re repeatable so that the work is performed to the same standards time and time again.
Review Your Processes
Your processes are documented, but now it’s time to review them. You might even find that you can pass your team (the people you delegate tasks to) an even better, more optimized process than you’ve been following.
How?
Ask yourself a few questions:
What Can You Eliminate?
Your processes may have some “fat” that can be trimmed down. Review each process to look for:
- Tasks that are redundant
- Tasks that are obsolete
Sometimes, we fall into a routine where we do tasks every day that we no longer need to perform. You might have had trouble breaking these habits, but you certainly don’t want to pass them on to the person(s) that you delegate to.
When I went through this process before going on maternity leave, I realized that many of the meetings I was holding didn’t need to be delegated. In fact, many of these meetings could be removed entirely and moved to asynchronous communication via Slack or Loom videos.
Eliminate the tasks that you’ve been performing that aren’t 100% necessary before moving on to optimizing your processes.
What Can You Optimize?
You’ve outlined your processes and removed tasks that don’t need to be performed. Next, you want to optimize your current processes.
How?
I’m a big fan of optimizing using technology and automating any processes you can. One stat that really stood out to me in When Accountants Dare to Dream is that 42% of accountants weren’t confident in their work.
Lack of confidence impacts fulfillment and can ultimately lead to accountants leaving the profession.
Speaking from experience, I know that there’s nothing worse than being delegated a task and not being confident in the work that you complete. Technology supports:
- Autonomy to confidently complete tasks. Technology streamlines tasks while still allowing you to work independently.
- Delegation. Software can do the heavy lifting for you, and using algorithms and data gives you confidence that the job was done properly.
According to FloQast’s report, 30% of accountants felt that technology helped them get their jobs done and have a life. Upstream and downstream processes were also better connected, allowing professionals to get more done faster.
By optimizing with technology first, you not only enhance your team’s ability to be confident and, as a result, fulfilled, but you also create a smoother workflow for them. This boost in efficiency and accuracy will be invaluable as you move forward with the delegation process.
Who Can You Delegate To?
At this point, you have a list of tasks that can be optimized using automation and technology and a list of tasks that can’t.
The next step is to determine who will be responsible for what.
For the tasks that can be handled through tech and automation, determine who will be responsible for overseeing these processes. This can be a team member who is already familiar with the tech you’re implementing, or it can be someone who is tech-savvy and enthusiastic about adopting automation.
For the things that can’t be automated, determine:
- Which tasks can be delegated to others
- Who will be responsible for these tasks
Make a plan for delegating tasks that can’t be automated. The most important thing is to ensure that your team has all of the tools and training they need to handle these tasks confidently.
At this point, you’re ready to start the delegating process.
Start Delegating
Now that you’ve documented and optimized your processes, it’s time to take action and start delegating.
Start small and then expand over time.
If you try to delegate too many things at once, you and your team may feel overwhelmed.
Once you start delegating, ensure you’re setting your team up for success. Empower them by giving them the tools they need to succeed, but more importantly, monitor their progress and prioritize feedback.
Monitor, Empower, and Create a Feedback Loop
Once you start delegating, it’s important to have a system in place to monitor progress and empower your team in their roles.
Here are some tips:
- Create a feedback loop. Keep an open line of communication with your team. Provide continuous feedback on performance, and allow your team to voice their concerns or issues they’re facing. An estimated 65% of employees want more feedback because it provides an opportunity to improve and learn, which can lead to improved job satisfaction.
- Encourage innovation. Give your team the freedom to find new and better ways to do things.
- Find new ways to optimize and automate processes to give your team more time to focus on critical tasks.
As team members progress in their roles, encourage them to delegate tasks. Delegation should be ongoing so everyone can be as efficient and productive as possible.
Conclusion
When accountants are free to delegate and automate tasks, they have more time to focus on things that bring them fulfillment. Delegation and automation also make it easier for accountants to get things done, which further helps them feel more confident and fulfilled at work.
While delegation can be a useful strategy for keeping accountants happy in their roles, it must be done strategically. It starts with a review of your processes and then optimizing to determine what can be automated and what can be delegated. Starting slow and monitoring progress can help ensure that delegation is successful.
