Dear Samuel
I was wondering if you can help me with some thoughts on a situation I continually face.
I would really like to be able to focus on adding value to the business, both from a longer term strategic view as well as helping the company make the right decisions on an ongoing basis.
I am finding however that I am spending too much time reviewing and correcting the work of my team. Sometimes I find myself having to do the work that my team was supposed to do because of vacations or unplanned time off.
How can I get beyond this?
Frustrated in Fresno
Dear Frustrated,
As CFO, you are only as strong as your finance team allows you to be.
A smooth functioning finance team does not happen by itself. It requires:
- knowing what work needs to get done
- preparing an org chart that allows you to be properly staffed so that the work get done, right, the first time, on time.
- staffing your team with the appropriate people
- replacing poor performers and people that do not have the skills you need
- having a talent development plan to ensure the people on your team continue to develop.
Not only do you need to make sure your team is well prepared to support you, you also need to know what your vision is as CFO, and what your personal action plan is to make it happen.
Having a sounding board, like a CFO Coach, can certainly help you stay on track to ensure you develop your team properly, as well as help you prepare your vision and action plan.
If you’d like to ask Samuel a question, click here.
How can I get in touch with the individual that was not getting the financial information he needs. I have two specific ways that I think I can resolve his issues.
Posted by Jeffrey Kraut | November 11, 2011, 5:43 PMJeffrey
Thank you for your offer to help solve this person’s problem.
I am currently working with the person on a solution. If you are interested in sharing your approaches to the writer, as well as everyone else, I’m sure it would be appreciated.
All the best,
Samuel Dergel
Posted by Samuel Dergel | November 13, 2011, 4:57 PMTo get your team to deliver; first rate them all 1-5. 5 being the best. You decide what skills the team is laking and form the simple ranking. Then start to cross train the group on a quarterly basis and last make sure they understand what their jobs are and how they will be reviewed on their annual appraisal. And above all support your staff. When things goes right the staff gets the credit. When things go wrong……….that is your burden to shoulder.
Posted by Pete | May 13, 2012, 4:19 PM