Managing Poor Performance in Finance Teams:

FRS 102 Revised Seminar Brings South Yorkshire Finance Leaders Together

In collaboration with Shorts Chartered Accountants, we recently hosted a seminar for senior finance professionals from across the region.The event brought together a number of Finance Directors, Financial Controllers and senior leaders from across the region for a morning of insight, discussion and networking over breakfast. It was a pleasure to welcome so many familiar faces, alongside new contacts, reflecting the strength and depth of the Yorkshire finance community. The seminar was presented by Howard Freeman, Audit & Accounts Partner, and Andy Ryder, Corporate Finance Partner at Shorts. We are extremely grateful to both speakers for sharing their time and expertise, and for delivering a clear, practical overview of the forthcoming changes to FRS 102, which came into effect on 1 January 2026 and are expected to impact a significant number of UK businesses. The session explored what is changing and why, particularly in relation to lease accounting and revenue recognition, and considered what the updates mean in practice for finance teams and business leaders. The speakers also addressed the new reporting requirements under FRS 102, the potential impact on EBITDA and valuation methodologies, and the key considerations for organisations as they prepare for implementation. Rather than focusing purely on technical detail, the seminar encouraged broader discussion around readiness, communication with stakeholders and the commercial implications of the changes. This led to a highly engaged Q&A session, with attendees sharing perspectives and experiences from their own organisations. At Sharp Consultancy, we are committed to supporting the finance community beyond recruitment alone. Events such as this form part of our ongoing effort to create opportunities for connection, knowledge-sharing and professional development among senior finance professionals. We would like to extend our sincere thanks to Shorts for partnering with us on this event, and in particular to Howard and Andy for delivering such an informative and thought-provoking session. We are also grateful to everyone who attended and contributed to the discussion. We look forward to hosting further events in the coming months and continuing to work closely with our network of finance leaders across the region.If you would like to discuss how these changes may impact your finance team, or if you are considering strengthening your leadership function, please contact us for a confidential conversation.

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Whether you’re stepping into your first line management role or leading an established finance team, addressing poor performance can be one of the most challenging parts of people management. In roles where accuracy, deadlines, and regulatory compliance are critical, even small performance issues can have a wider impact on reporting, controls, and business confidence.

Handled well, performance conversations can be constructive, fair, and lead to genuine improvement. Below are practical tips to help finance leaders manage underperformance clearly, professionally, and effectively.

Notebook with performance management concepts written in notes, illustrating strategies for effective team evaluation.

Act Early and Address Issues Quickly

As soon as you spot concerns — whether it’s missed deadlines, errors in reconciliations, inconsistent reporting, or poor communication with stakeholders — it’s important to respond promptly.

Early, informal conversations can often prevent issues escalating and give individuals the best opportunity to improve. Keep your tone supportive and solution-focused by:

Asking where they feel they need support
Offering coaching or additional training
Exploring practical ways to manage workload or priorities

Encourage Open and Honest Dialogue

Creating space for open discussion is essential, particularly in high-pressure finance environments such as month-end, year-end, audit cycles, or board reporting periods.

Give the individual time to share how they feel they are performing and any challenges they’re facing. If they have a previously strong track record, it’s worth exploring potential causes, for example:

Increased workload
System changes (ERP or reporting platforms)
Personal circumstances
Changes to role scope or team structure

Understanding the root cause allows you to address the problem more effectively.

A laptop is placed atop a chaotic pile of papers, indicating a productive but cluttered environment.

Prepare Thoroughly for the Conversation

Before any formal discussion, gather clear, factual examples of performance concerns. This might include:

Repeated errors in journals or reconciliations
Delays in management accounts
Missed deadlines during reporting cycles
Stakeholder feedback

Be clear that the goal of the conversation is to support improvement, not to move straight to formal disciplinary action. Give the employee the opportunity to respond openly and explain contributing factors.

Reassess Objectives and Workload

If performance is linked to previously agreed targets, consider whether circumstances have changed. In finance roles, this may include:

Business growth or restructuring
System implementations
Changes to compliance or regulatory frameworks
Team absences or vacancies increasing workload

Where necessary, agree realistic interim goals that maintain motivation while setting a clear path back to full performance.

Three business professionals engaged in discussion at a conference table, with documents and laptops in front of them.

Set Clear Timeframes and Review Points

Agree a structured improvement plan that includes:

Clear expectations
Measurable outcomes
Defined support (training, mentoring, revised workflows)
Regular review meetings

This ensures both manager and employee stay aligned and progress can be reviewed fairly and consistently.

Supporting Strong Finance Teams

Strong performance management is essential to building effective finance functions. When handled with clarity, empathy, and consistency, these conversations can strengthen engagement, protect standards, and improve overall team performance.

Sharp Consultancy specialises in the recruitment of temporary, interim, and permanent accountancy and finance professionals. With offices in Leeds and Sheffield, our experienced consultants work with businesses across Yorkshire and beyond to build high-performing finance teams.

Today to speak with a member of the team about hiring, team development, or your next career move.

Managing Poor Performance in Finance Teams: Practical Advice for Line Managers