HIT THE GROUND RUNNING AS A NEW FINANCE LEADER
Here are the four steps to roadmap your successful appointment
How CFO's and Finance leaders can DRIVE SUCCESS in their new role
Transitioning into a new Finance leaders or CFO role can be a stressful, yet rewarding, career milestones for an individual. To be successful, you must:
- Take a structured, purposeful approach to the new role
Navigate the overwhelming number of competing tasks during their first few months in the role
- Take a four-step approach to execute against priorities: prepare, connect, assess and act
Prepare to mitigate risk
New CFOs must understand the contextual factors that can impact their performance and proactively plan to address them or account for them.
Preparing for your CFO transition includes:
Mitigating team change aversion
Minimising team change uncertainty
Facilitating team agility and alignment
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BUILD TRUST
Building relationships, trust, and credibility are key to a successful CFO transition. It is important to do this with your peers, C-suite members and the board.
Connecting during your new appointment includes:
- Relationships with stakeholders
- Building trust in your team
- Establishing your personal brand
READ THE FULL ARTICLE:
A New CFO's roadmap to success
Access the current finance function
Establish clear initial priorities by reviewing performance data, benchmarks, and feedback surveys to understand and analyse the key issues. Avoid analysis paralysis. Gain insight, and refine over time.
We suggest the following insights and data analysis:
Assessing finance performance
Assessing your talent pool
Assessing organisation structure
Resources
Read, watch, and share best practices.
INFOGRAPH
Download this infograph to find out more about the top frustrations of finance leaders.
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