Financial services is just like football. Well, maybe not quite, but bear with us here. There many similarities between football and other team sports and business. If you are looking to shake up your management and hiring methods, here are some football approaches which translate just fine (well, sort of…):

The Ranieri method

Assemble a cheap team (it’s all relative), organise them well, get everyone to perform at their peak level, work hard on creating great team spirit, and have very few absences. Then sit back and relax, but be quick and aggressive when opportunities arise. Outstanding team management required for this one, albeit without much job security. You do develop a stellar reputation at least. Team pizza making outing optional, but recommended.

The Fergie method, part 1 (when you’re great you can achieve using every method)

Hire a load of talented kids without too much ego, train them yourself and take the world by storm. Because it is possible to win things with kids.

The Fergie method, part 2

Once your team has taken the world by storm, get rid of the big egos you have by now developed. Got an expensive, disruptive diva whose best days are possibly behind them? Keep the rest of the team on their toes and prove that no one is bigger than the team (or the manager) by sacking them. Keeps the wage bill down and sends a neat message to the rest. Works best if you pay the divas so much no one else will want them afterwards. Although not great for labour relations and could be costly in compromise agreements?

The Mourinho method

The opposite to the Ranieri method – splash the cash and buy the best talent on offer. Some will work out, some won’t, and you might have too many staff by the end, but that’s not the point. Focus on getting results immediately. Now you have a team full of egos, though, so good management skills required here too. Don’t expect to stay in the job too long, but don’t worry, this approach is easily repeated at your next one.

The Wenger method

Be good, but never the best. If you aim for the top there is further to fall, after all, so go for steady, good results. Look for talent, with the occasional big hire, and move people on as soon as it’s profitable to do so. Expect seasonal wobbles and catastrophic performances here and there, but keep focused on the big picture. Slightly unsatisfying approach for your staff, a bit of turnover will be inevitable, but the board will be happy, and management job security is excellent.

The England method

Get a load of big names, but ignore performance records, tell the team they are the best in the world (when they’re clearly not) and stroke their egos, but make sure to give everyone a different job to the one they specialise in. Sit back and watch – results will be mixed to say the least, but entertainment value is high, and you can sell a lot of branded merchandise off the back of it. Management approach makes no difference on this one, so take a relaxed approach. Granted, it tends to be bad for your reputation, but at least you can demand a good salary.