It’s the final countdown: next week, we officially kick off the final quarter of the year! And the stakes are high.
As we work to deliver on lofty goals by December 31st, getting everyone in the right mindset is no easy feat. Between tense geopolitical issues and ongoing economic volatility, these days, many employees are feeling significant pressure. In fact, employee well-being has notably declined – especially among younger employees – and 20% of global workers report feeling lonely, per Gallup’s State of the Global Workplace: 2024 Report. The demands of Q4 only add to the intensity, since it’s both the end of the fiscal calendar and the holiday season, which 88% of surveyed respondents say is the most stressful time of the year, according to Joy Organics.
With your employees feeling the financial burden of upcoming vacations and holiday gifting, emotionally triggered by complicated family dynamics, and greater burnout as they try to achieve big goals by the end of the year while also planning time off, as a leader, this final quarter is especially difficult. You need to effectively balance your own life pressures and business KPIs, but you also must support your team and maximize their performance during this critical time.
So, here are some tips for ensuring a strong end to 2024:
Prioritize key projects
Companies that know how to strategically prioritize the right initiatives are worth 40% more than those that don’t, as revealed by McKinsey research. So, as we head into the final quarter of 2024, try to focus on quality rather than quantity. While there are likely lots of projects that currently need to get done by the end of this year, there are probably a few that can bleed into the beginning of next year without causing any issues. And bearing in mind that your team members may be taking time off for the holidays, it’s best to prioritize initiatives when possible to avoid causing unnecessary pressure and time crunches.
Consider scheduling brief syncs with each of your team members to walk through all of their projects, prioritize their individual workloads, and update deadlines for non-essential projects. This way, with fewer items on their plates, your employees can feel more in control and ensure that the most important work gets done on time.
Assess your team meetings
70% of workers feel they would be more productive if they had fewer meetings and email correspondences, per Slack’s State of Work in 2023 report, and nearly two-thirds of workers admit they don’t have sufficient time and energy to actually get their work done, as detailed in a 2023 Microsoft survey. The takeaway? Your team members may need your help finding time to actually do their work. So use this final quarter to evaluate which meetings are really important, how they should be structured, and who truly needs to attend. Cutting out recurring meeting blocks that aren’t bringing enough value means more time for productive and focused work. In other words, if your team members are mostly there to listen during a recurring meeting, perhaps it’s time to mark them as “optional” and send them meeting takeaways instead.
Recognize growth paths
As we close out the year, growth and development are top of mind for many employees. 76% of individual contributors want to advance their career, but 49% say they lack good career advice, according to a study by MIT, and 63% of employees who left their jobs cited lack of advancement opportunities as the reason, detailed in a recent McKinsey report.
So, as the leader, your job is to help your team members feel that they have a real future on your team by initiating conversations around their career paths. Take some time to discuss their professional goals, provide honest feedback about where they are excelling and the areas they should focus on improving in the coming months, and outline benchmarks for transitioning into a more senior position. Doing so will help your team members feel a sense of clarity and direction as you head into the final quarter of 2024.
Help your team feel connected
When employees feel a sense of belonging on their team, they are more than three times as likely to contribute to their full potential, according to research from the Harvard Business Review. So, whether it’s a group lunch or a fun activity, try to organize some time with the whole team – ideally during work hours so that you don’t interfere with your team members’ personal lives – to help close out the year feeling close and connected. In this setting, it can be nice to reminisce on special moments from the year and give your employees the space to voice gratitude for their teammates who offered them meaningful support or guidance. If your team is remote, you can organize a meeting to raise a virtual glass together.
Celebrate team achievements
Schedule a team meeting dedicated to celebrating your successes from the year. When possible, include data and numbers that can make the impact feel more powerful, and try to give personal, authentic shoutouts to each individual. For example, rather than simply saying, “Great job on that project, everyone,” try speaking to unique contributions and the areas in which your team members specifically excelled. Top performers need to know their efforts are recognized and valued, says Gallup research, which found the majority of respondents citing manager recognition as the most memorable. So, however, you choose to recognize your employees, keep it thoughtful and specific. For inspiration, some managers create custom awards for each member of their team, like “Best at Making it Happen” or “Best at Navigating Difficult Stakeholders.” So don’t be afraid to get creative and have a little fun!
And as you’re celebrating the wins, use this time to acknowledge the challenges the team encountered over the course of this year, highlighting the ways they effectively got resolved to demonstrate the kinds of behaviors that should continue going forward. By taking the time to honor everyone’s achievements, you can make your employees feel valued and make further success feel more attainable.
