EOFY REFLECTION: IS YOUR TEAM SET UP FOR THE YEAR AHEAD?

As the end of the financial year approaches, many companies focus heavily on budgets, forecasts and financial performance. While these are important measures of success, they also provide a perfect opportunity to assess something equally important: your people.

The strongest organisations have a plan and strategy to move forward while also taking into account the lessons they have learned and the areas where they can continue to improve.

Before locking in your plans for the new financial year, here are four areas worth reviewing.

1. Are Skills Gaps Emerging?

Business priorities evolve, industries change and technology continues to reshape the way we work. The skills your team needed two years ago may not be the same skills required moving forward.

Take a step back and assess where capability gaps may exist.

• Are there specialist skills your team lacks?

• Are certain employees carrying responsibilities outside their expertise because no one else has the required knowledge?

Identifying these gaps early gives businesses time to invest in training, succession planning or recruitment before they become a problem.

Example: A business might be strong at delivery, getting projects built on time and on budget, but light on front-end feasibility and planning. Without that capability in-house, every new site acquisition relies on external consultants, slowing down decision-making and eating into margins on deals that need to move quickly.

The organisations that remain competitive are often the ones that build capability proactively rather than filling gaps only when they become urgent.

2. Does Your Team Structure Still Make Sense?

Team structures often evolve organically over time. New roles are added, responsibilities shift and reporting lines change.

This is an ideal time to review whether your current structure still supports your business objectives.

Ask yourself:

• Are responsibilities clearly defined?

• Are there overlapping roles creating inefficiencies?

• Are key decision-makers overloaded?

• Have certain functions outgrown their current structure?

Example: A Senior Project Manager might technically report to the Project Director, but also take direction from the Development Manager because that is simply how things have evolved. Neither party is wrong, but the lack of clear reporting lines means accountability quickly becomes blurred when something goes off track.

A well-designed team structure improves accountability, communication and productivity. It also creates clearer career pathways, helping to support employee engagement and retention.

3. Is Workload Distributed Effectively?

One of the biggest risks for growing businesses is uneven workload distribution.

High-performing employees often become the "go-to" person, gradually taking on more responsibility while others remain under-utilised.

Review workload across your team and look for signs of imbalance.

• Who is consistently working beyond capacity?

• Are certain projects dependent on one individual?

• Is there enough support in key areas?

• Are employees spending time on tasks that could be delegated elsewhere?

Example: Imagine one Finance Manager handling every payroll run, supplier payment and month-end report, while the rest of the team only completes data entry. The business has unintentionally created a single point of failure. If that person leaves or takes annual leave during a critical reporting period, payroll and supplier relationships are immediately at risk. Sharing that knowledge earlier protects the business and builds capability across the wider team.

Addressing these issues before the new financial year can improve productivity while reducing the risk of losing your top performers.

4. Is Your Leadership Capability Ready for Future Growth?

As organisations grow, leadership requirements change.

The skills that make someone a high-performing individual contributor do not always translate into effective leadership. This is a valuable opportunity to assess whether your leaders have the support and development they need to guide their teams through the next stage of growth.

Consider:

• Are managers effectively developing their teams?

• Is succession planning in place for critical leadership roles?

• Are future leaders being identified and developed?

• Do leaders have the tools to manage performance, change and growth?

Example: A high-performing accountant may be promoted into a Finance Manager role because of their technical expertise. Suddenly, they are expected to run performance reviews, manage a team and present to the board without ever having been trained to do any of those things.

Investing in leadership capability today can have a significant impact on team performance tomorrow.

Looking Ahead

The new financial year presents an opportunity to reset, reflect and plan for growth. While budgets and forecasts are important, the success of those plans ultimately depends on having the right people in the right roles.

By reviewing skills gaps, team structure, workload distribution and leadership capability now, you will be in a far stronger position to enter the new financial year with confidence.