What do you do if your team in the budgeting and forecasting department lacks assertiveness and confidence?
When it comes to budgeting and forecasting, assertiveness and confidence are key traits for success. These qualities ensure that team members can effectively communicate their insights, stand by their projections, and navigate the complex negotiations that often occur during financial planning. However, if your team is struggling with assertiveness and confidence, it can lead to a lack of conviction in decision-making and hesitancy in presenting forecasts, which ultimately affects the credibility and accuracy of financial plans. It's crucial to address these issues promptly to maintain the integrity and effectiveness of your department's output.
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Invest in skill-building:Conduct workshops focused on public speaking and negotiation. This will boost your team's technical skills and confidence, enabling them to present forecasts assertively.### *Promote ownership:Give team members autonomy over their forecasts and budgets. This fosters a sense of responsibility, making them more likely to defend their calculations with confidence.