Media Release

Financial risk company shares virtual team management tips

Managing remote teams can be challenging even for the best managers in large organizations especially now that many companies are operating in remote work arrangements. To help businesses rise up to this challenge, Refinitiv, a global provider of financial markets data and infrastructure, recently hosted a virtual talk on best leadership practices amid the quarantine.

“At Refinitiv, one of our key pledges is communicating the value of sustainable leadership. Through this principle, we aim to foster a culture that supports the communities we work in, empowers individuals, and drives social impact,” says Genevieve Esguerra, content operations manager at Refinitiv Philippines. “Through the LeadHer Talk, we aim to help our people and other professionals in Asia to continuously thrive in their fields and have the opportunity to reach their full potential even in difficult times.”

Refinitiv Women Network-Manila led the virtual discussion in collaboration with the nonprofit Women Inter-industry Network.

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Participants came up with collective tips that they think would be useful across virtual team management:

Observe prompt and visible action

Decision-making is crucial in crisis, especially if it involves public health and safety. It should be made fast enough to address concerns efficiently, but never too quick to compromise decision value. Businesses need to ensure that these actions provide employees with assurance and support both personally and professionally. Prompt implementation of mitigation plans, safety procedures, workers’ compensation processes, and other crucial actions should be top priorities.

Foster honest and consistent communication

Establish various communication channels both for the team and clients. Apart from email, creating group chats in social media and messaging platforms could help facilitate quick connections. Daily check-ins, regular updates, and meetings are likewise highly encouraged to ensure aligned communication.

Provide flexibility and define work-life boundaries

People respond differently to difficult situations. That is why it is important to allow teams to work in ways most efficient for them. Allowing employees to work flexibly while maintaining a clear work list boosts their morale and helps reduce stress levels. A great work-life balance also helps build trust and commitment in the workplace and even increases employees’ productivity.

Create shared experiences

Planning online activities that foster bonding is a powerful tool in motivating employees. Simple activities such as curating a group playlist, sharing work-from-home set-ups, encouraging fun contests, or even sharing journal entries go a long way in inspiring the team.

Lead with empathy and establish an emotional connection

At the core of leadership is understanding and addressing the needs of others. By understanding employee’s emotional needs and creating an avenue for them to voice out their opinions, leaders create a culture of trust, collaboration, transparency, and a greater sense of purpose for their people.

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