24 Mar The value of CFO Profiling
Organisations normally engage in developing a robust CFO Profile when they need to recruit, however conducting the same process within your organisation when recruitment is not the focus can have great benefits for aligning business strategy with the individual and team.
Recently we have been engaged across a number of clients undergoing this process, one of which instigated Profiling of their own position. In this instance from the CEO to junior staff there was a presumed understanding that everybody knew what each other did, when in fact people were not aligned to the current business model. By conducting profiling they removed any ambiguity.
As Stephen Covey stated “When people are crystal clear about the most important priorities of the organisation and team they work with and prioritised their work around those top priorities, not only are they many times more productive, they discover they have the time they need to have a whole life.”
Start by understanding if your CFO Profile;
- Aligns to the organisations strategic, governance, risk, operational and financial needs?
- Suits the company now and into the future?
- Aligns with the executives, peers and subordinate staff?
- Suits your industry, company size and company stage?
Benefits for closing these gaps can be huge, from greater business confidence, staff engagement with clear career paths, to the realignment of your own skills within the company.
We have seen many instances where if profiling was conducted prior to the recruitment process previous incumbents may have been re-engaged and stayed on avoiding the efforts and cost involved in recruitment and on boarding of a new CFO.
If you would like to discuss profiling within your organisation, send us a note.