Do everything yourself.
Let's start at the root of delegation. According to the dictionary, to delegate is to entrust a task or responsibility to another person. I love that the word 'entrust' is used because this is the foundation of any healthy team.
If you can't trust your team you need to find a new team because if there's no trust there's no loyalty. If there's no loyalty there's no team.
Now that you understand why delegation is so important let's talk about another reason delegating is necessary.
Productivity.
If you effectively delegate tasks to your team you will become the most productive team in your company. Knowledge of tasks will be broad and deep freeing you up to tackle big issues while work is still getting accomplished.
Before I go further I must make this abundantly clear. When I say delegate I do not mean shirk all responsibilities and do nothing. I've known people in this category and the word I would use to describe them isn't delegator (more like mooch, freeloader or lazy).
Now that we have that cleared up let's move on.
How to Effectively Delegate
I know this sounds like a great idea but I'm sure you're wondering how to even start delegating.
First, assess your team.
Length of employment - Have they been a part of the team for a number of years or are they just getting their feet wet? If you have a new employee you need to make sure this newbie understands the basics before throwing extra work at them.
Bandwidth - Do they have time to take on a new responsibility? If your team is already stretched thin delegation is a bad idea. Instead, describe the tasks that need to be completed, hours a week associated and hire a new team member to add to the ever growing workload.
Desire - As you spend time with your team you will find some are comfortable where they are while others are chomping at the bit for a new work assignment. There's nothing wrong with either but knowing this is key to keeping team members motivated.
Second, assuming you have found someone seasoned, with bandwidth that is interested in doing more, the next step is to teach. This is where most managers say, "I'll do it myself, it will be faster." And to that I say choose hard now or choose hard later.
You can to do the work yourself, that you don't have time for, slowing down the team and company progress forever.
OR
You can teach the task slowing down the team and company progress for a day or two but ultimately kicking productivity into high gear.
Assuming you've decided to "do hard now" here are some tips.
There's more than one way to skin a cat
Potentially the grossest analogy in history, yet so true. Be ready for your employee to come up with a new way of doing the task you've delegated. Stay open minded and you may be surprised by their ability to streamline the effort. Although if you find them completely off base make sure to praise the effort and gently remind them of the end game.
Support but don't loiter
If you've assigned a task, provided guidance, given a deadline and made sure they know you are available for further questions, then your job is done. You must let them go. Avoid standing over them while they work or asking every five minutes if they need help. This will cause anxiety for you and for them and no one produces good work in those conditions.
Praise, correct, praise
Regardless the product of their efforts, make sure to find something positive to say such as "I'm proud of you for stepping up to the plate on this one." If something is amiss call it out but in an exploratory way. "Can you tell me what this section is about?" Whether it's out in left field or right on the money, praise again for thinking outside the box.
Publicly acknowledge the work
This can come in several forms. An email to your boss with the latest work product highlighting that this will now come from 'so and so' or a team meeting where you discuss recent accomplishments.
Congratulations you've effectively motivated your team and created a more productive one in the process.