I am about to get a job offer as CFO. Thank you for your blog on Negotiating your CFO contract - I am finding it very useful as I’m going through this process.
I have networked my way to this opportunity, and I think it’s a good fit for me. In the last steps of this hiring process, I would like to ensure that I not only deliver value to my new employer, but also have the ability to access coaching to help me become the best CFO I can be.
Almost There in Almont
What is most important at this time is to secure an offer of employment from the company. I have seen too many instances where CFOs were about to get a job offer that never materialized.
Once your next employer is serious about bringing you on board, you can discuss other key terms for your employment.
Regarding an Accelerated Transition Program, it is important to ask the following question to your new employer as you finalize your offer of employment: “What support do you offer executives to ensure a successful transition into the company?” If you get a blank stare, you might be on your own. If however you get some recognition by your employer that executive job transition is important, you may have room to negotiate this program. If you cannot get official transition assistance, you should at least read the book I’ve recommended and apply it for yourself and your new company.
When it comes to the subject of coaching, some CFOs have mentioned to me that they are uncomfortable bringing up the concept with their new (or their current) employer.
Like any great idea that others may not understand right away, it is important that you understand the perspective of the decision maker before you present them with your great idea.
The easiest person to convince that you can get great value from a Coach is your CEO, IF they have a coach themselves.
Companies that understand the need for professional development and readily invest in these activities for their key people are solid candidates to pay for CFO Coaching.
Regardless, I recommend that new (or current) CFOs should ask for approval of an annual budget amount for their professional development that can include conferences, training, books as well as coaching. Getting a budgeted amount approved upfront allows you the freedom in how to best spend these professional development dollars. This gives you the flexibility to choose your own areas and methods of development while not having to go back again and again for permission.
Remember, you’re the Chief Financial Officer. Your negotiation skills are being tested at this critical junction. A great negotiator gets what they want while the other party gets what they want as well. As you finalize the conditions of your next CFO role, keep this in mind.
If you’d like to ask Samuel a question, click here.