The Traits of Today's CFO

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STEP 4: IMPROVE YOUR TEAM’s EFFECTIVENESS THROUGH COACHING

A leader’s primary responsibility is to create an environment in which our employees can successfully complete their work.

One area in which CFOs and controllers must enhance their skills is in developing a strong and supportive team. In this step, we explore five best practices that enable the CFO to build a such a team. Each practice is one dimension of the overall theme of teaming. Today, CEOs highly value controllers and CFOs who have the ability to develop a cohesive team around them.

After reading this chapter, you should be able to

• employ specific tools that turn a department into a real team.

• apply specific strategies that foster individual accountability.

• evaluate if your recognition efforts support behaviours that create collaboration.

• use feedback to build star performers.

• help employees be more effective so you can lead better.

THE VALUE OF TEAMING IN FINANCE

Teaming is the way that work gets done today.

Like it or not, our work has become a series of projects. Closing the month-end is a project. Getting ready for the audit is a project. Implementing the new cost system is a project. The controller and CFO who sees the accounting function as a series of projects can easily apply the concept of teaming as a way of getting the work done more effectively, while enhancing employees’ productivity. Because the accounting department really is an information business, the best way to get work done smoothly requires ...