Posted on Aug 12, 2013 12:06:31 PM
Many small business owners start out doing everything for their business themselves. However, as a company grows, it becomes vitally important to delegate tasks in order to keep it growing, while also enabling you to have a life outside of your business. Padgett Business Services®, a financial services partner to small businesses for 40 years, knows the importance of delegation in practice. We have created this guide to cover the why, when, what, who and how in regards to delegation.
What is Delegation?
Delegation is handing off responsibility and authority to complete a task. In order to effectively delegate, business owners and managers must pair the right task with the right person (ensuring that the person has proper training to successfully finish the task), as well as to set performance expectations, give the person the authority to make the correct decisions to complete the work required, and leave feedback.
Why Should You Delegate?
Delegation has several benefits to you, your employees and your business.
Benefits to you:
Benefits to your employees:
Benefits to your company:
Why Is It Difficult to Delegate?
Many business owners and managers have difficulty delegating work to their employees. There are many reasons for this, although they typically fall into these categories:
For those who find delegation difficult because they are too controlling, they usually feel that they are the only ones who are capable of doing the tasks right, or they believe that being involved in every detail of the business is the only path to success. These managers must remember that an employee can be trained to do a task and that their job is to guide the business instead. There is only so much time in the day, and a leader's work should focus on specific tasks that guide and grow the business.
Managers who do not trust their employees need to carefully evaluate their team members. Why did you hire your team in the first place? Why did you stop trusting them? Can this lack of trust be rebuilt? Do you need to do more training to develop their skills?
Business owners and managers who do not delegate may feel that it is quicker to do the task themselves than it is to train someone to do it properly. This logic has several flaws.
So far, we have covered the reasons why you should delegate. Our series on delegation will continue with the when, what, who and how of delegation. Padgett Business Services® has a proven track record of providing small businesses with the tax, financial and payroll services that they need. Contact us if you want to delegate any of your business financial tasks to us.