Great culture isn’t just for big companies with large HR departments – it’s even more important for smaller advisor teams. With fewer people, negativity can spread more quickly and productivity can suffer greatly.
Your colleagues are like family. When the bond is strong, there’s nothing like it. But when problems exist, it takes time and effort to rebuild the connections. This goes beyond casual Fridays or stocking the right snacks. It’s about creating an environment where people feel valued and motivated.
Here are five strategies to help build a winning culture:
1) Hire for Culture
A great team starts with the right people. Technical expertise is important, but so is cultural fit. This doesn’t mean hiring everyone to be exactly like you. It means hiring someone who adds to your culture in a meaningful way.
- Spend some time with new applicants over meals or team outings to see how they perform in a non-interview setting.
- Ask interview questions that help you gauge personality, values, and communication styles.
- Be upfront about your firm’s expectations concerning responsiveness, work ethic, and collaboration.
- Involve other team members in the hiring process and trust the input they provide.
Each new hire shapes your firm’s culture, so be intentional about who joins your team.
2) Set the Tone
Your team takes cues from how the team leaders communicate, make decisions, and handle challenges. Set the tone for how you’d like others to behave.
- Be transparent. Share your goals, challenges, and what excites you.
- Watch your language. If you’re always complaining about a client, they will too.
- Be client-centric. Find ways to go above and beyond.
Small teams rely on strong leadership. Set the tone, and your culture will follow.
3) Make the Office Fun
A great office culture isn’t just about work – it’s also about creating an enjoyable environment where people want to spend time.
- Play music. Buy ample plants and art. Make the atmosphere one that people enjoy.
- Organize office-wide activities like casual Fridays, potluck lunches, or even an occasional themed dress-up day.
- Set up common areas that encourage spontaneous conversations and collaboration.
Your goal should be to make your office a place people look forward to coming to – not just a place they have to be.
4) Have the Tough Conversations
The best teams are built on trust and open dialogue. When employees feel heard, they’re more engaged and committed.
- Schedule regular one-on-ones for an open and constructive dialogue.
- Encourage honest feedback on processes, leadership, and team dynamics.
- Be pleasant but direct about performance issues.
A healthy culture doesn’t avoid conflict – it addresses it productively.
5) Prioritize Team Building
Getting out of the office and spending time together in a different environment strengthens team bonds.
- Schedule quarterly team-building events like sporting events or volunteer projects.
- Encourage participation by selecting activities that align with your team’s interests.
- Rotate planning among team members to keep events fresh and engaging.
Your firm’s culture will develop whether you shape it or not. Be intentional. Small teams have the unique advantage of agility – use it to create an environment that attracts talent, encourages collaboration, and enhances the team member experience.
