Leading with Appreciation: Enhancing Staff Engagement in Finance Departments

Finance leaders are currently grappling with the challenge of low levels of employee engagement within their departments, resulting in high staff turnover and posing a threat to key function priorities, as per new insights from Gartner, Inc. Experts at Gartner are highlighting the significance of adopting a strategy of gratitude in leadership to tackle this issue.

Shannon Cole, a senior director analyst at Gartner, observed that employee engagement in finance departments tends to be lower than firm-wide averages. This indicates that the traditional methods used by finance leaders to enhance engagement have not been entirely successful, putting CFO priorities at risk. Rob O’Donohue, vice president analyst at Gartner, further stressed that acknowledging and appreciating staff through gratitude can significantly improve engagement levels, and it is entirely within the power of finance leaders to implement this without requiring new approvals or budgets.

Gartner defines engagement as the likelihood of employees remaining in their current roles and putting in high levels of effort. To address employee engagement issues, finance leaders should concentrate on fostering a culture of gratitude within their departments and lead by example by demonstrating gratitude themselves.

According to O’Donohue, not all gratitude practices are equally effective. Simply going through the motions or offering insincere gestures of gratitude can have a negative impact on morale. Instead, finance leaders should consider integrating peer-to-peer gratitude shares into their team meetings, setting aside time for team members to express appreciation for the support they have received from one another. By encouraging specific and sincere expressions of gratitude, leaders can cultivate a more authentic and positive work environment.

Furthermore, finance leaders can incorporate gratitude into the SMART goals approach by expressing thanks in specific, measurable, attainable, relevant, and time-bound ways. This can reinforce a culture of appreciation and recognition within the finance function, ultimately boosting staff engagement and morale.

Gartner will delve deeper into the theme of “Autonomous Finance: Driving Transformation to Unlock Enterprise Value” during the Gartner CFO & Finance Executive Conference 2024. The conference aims to explore how organizations can address various challenges, such as cost pressures, security threats, and the implementation of AI, by evolving and transforming their data, processes, technologies, staff capabilities, and organizational models. This event will provide valuable insights for finance executives aiming to drive business impact and stay ahead in a rapidly changing landscape.

In conclusion, Gartner’s insights suggest that finance leaders should prioritize leading with appreciation to enhance staff engagement and tackle the challenges of a rapidly evolving finance landscape. By fostering a culture of gratitude and recognition, finance departments can create a more positive and productive work environment, ultimately driving success in their organizations.