Is Your Team Structure Due for a Review?
With the new year in full swing, it’s time to ask yourself: is your team structure truly working for you? While financial planning and goal setting often top the priority list in January, the foundation of it all—your team’s structure—can sometimes be overlooked. With Business NSW reporting that 58% of businesses are feeling cautious about 2025, a strong, well-aligned team could be the key to navigating these challenges with confidence.
At Godfrey Group, we’ve seen how a thoughtful team review can revitalise operations, energise employees, and give businesses the competitive edge they need in uncertain times. Here’s why rethinking your team structure could be one of the most impactful decisions for your business this year.
Why Now Is the Right Time to Review Your Team
A new year presents the ideal moment to hit reset and reimagine how your team works together. Are roles clearly defined? Are processes running as smoothly as they could be? Taking the time now to review and refine your setup can help eliminate inefficiencies, spark innovation, and uncover hidden leadership potential within your team. In our experience, businesses that embrace this process see a noticeable lift in morale. When you involve your team, ask for feedback, and show that you value their input, you create a sense of ownership and energy that benefits everyone.
6 Signs It’s Time to Rethink Your Team Structure
- Market Changes and Shifting Client Demands
As market conditions evolve, your team’s structure might need to adapt. For example, if you’ve traditionally worked with retail clients through advisers, but now deal directly with clients, the way your team is set up might need to change. Adapting to these changes quickly helps your business stay ready for what’s next by reallocating resources, redefining roles to meet new client demands, and ensuring your team has the skills and tools needed to deliver excellent service in a changing market. - Inefficiencies in Your Current Team Structure
Is your team working as efficiently as it could be? Taking a closer look at responsibilities, timeframes, and task allocation can reveal where your team might be stretched too thin—or not stretched enough! For example, in a financial advisory firm, senior advisers spending too much time on admin tasks might have less capacity for clients. Redistributing these tasks to support staff or using automation tools allows advisers to focus on building relationships and delivering personalised advice. - Mergers and Acquisitions
The financial services and superannuation markets have seen significant mergers and acquisitions in recent years. These changes often leave behind duplicated systems, processes, and roles, making a team restructure more of a necessity than a choice. Consolidating teams and processes during these transitions allows for smoother integration and avoids wasted resources. - New Systems and Technologies
Introducing new technologies often means tweaking your team structure to make the most of them. A new CRM system could simplify workflows but might also mean training your team, creating new roles, or redistributing tasks. Similarly, tools that automate financial processes free up your team to focus on strategy and building stronger client relationships. To fully leverage new systems or technologies, aligning your team structure is essential for seamless integration and optimal results. - Legislative Changes
Changes in financial regulations and laws, such as updates to the Treasury Laws Amendments or new ASIC guidance for financial advice standards, could drive the need for a team restructure. These shifts might require creating roles to oversee compliance, updating processes to meet stricter reporting requirements, or reallocating responsibilities to handle regulatory changes effectively. Staying proactive ensures your team is equipped to navigate these evolving legal obligations. - Ongoing Evolution and Adaptation
Businesses constantly evolve, and what worked last year might not fit today. For example, a wealth management firm expanding to high-net-worth clients might need specialised roles like tax strategists. Regular reviews help spot inefficiencies and ensure your team stays agile in a changing market.
The Benefits of Restructuring Your Team
A successful team restructure can reinvigorate your business, streamline operations, and align employees toward shared goals. A great example is Microsoft under Satya Nadella.
When Nadella took over as CEO in 2014, he reshaped Microsoft’s organisational structure to break down internal silos and promote more collaboration. A pivotal move was merging multiple teams into the AI and Research Group, enabling the company to drive innovation across its product lines. This restructuring strengthened Microsoft’s ability to innovate and enhanced collaboration across teams.
Whether driven by external market shifts or internal goals, restructuring your team can create a more engaged and productive workforce. Here’s how:
- Streamlined Operations: Reorganising roles helps your team work smarter, not harder. This can reduce bottlenecks and create smoother workflows.
- Better Alignment of Skills: A restructure allows you to realign roles with your team’s strengths and skills, which makes for a more productive and satisfied workplace.
- Cost Reduction: By cutting out redundancies and streamlining processes, you’ll save costs, making your business leaner and more agile.
- Growth Opportunities for Employees: Restructuring can open doors to new roles and career development, helping with both employee growth and retention.
- Clearer Vision for the Business: A well-organised team is a team that’s aligned with your business goals, and a clear structure gives everyone a shared purpose.
- Fresh Perspectives: Adjusting team roles can unlock untapped creativity, introducing new approaches and innovative solutions for your business.
- Stronger Collaboration: A well-structured team makes communication smoother and teamwork more effective, helping everyone stay aligned and work toward shared goals.
Make the Most of 2025 with a Strategic Team Restructure
A team restructure is more than just a shuffle—it’s a strategic investment in your business’s future. Whether you’re hiring from the ground up to build a strong junior talent pipeline or filling critical C-suite roles to steer your organisation forward, Godfrey Group is here to help.
With extensive experience in financial services and wealth management, we specialise in creating tailored solutions to optimise team performance, adapt to change, and seize new opportunities. From identifying gaps to sourcing the right talent, we work with you to ensure your team is ready to meet tomorrow’s challenges.
Build a stronger foundation for your financial or wealth management firm today. Contact us on 02 8004 9350 to see how we can help.