You may be aware that I have another blog called CFO Moves, which tracks CFO Movement across the United States on a weekly basis. I’m happy to share my team’s research with colleagues, clients, CFOs and even competitors. I gain some fascinating insights into Chief Financial Officers through this research, as well as learning from the CFOs I speak with each day.
The idea today that a CFO needs to be grey-haired (or no-haired) is no longer a given. Relevant experience is key, as well as the abilities, skills and knowledge that they bring to the table. What matters today is the results the Chief Financial Officer deliver to their employer.
Today, some CFOs are in their 30s or 40s. I’m not making a judgment on a CFO’s abilities based on age. Age is not relevant to whether a CFO can do the job needed or not.
However, I have seen Younger CFOs and finance executives who are afraid to hire people with more experience than they have. In my opinion, this fear comes from insecurities they have, whether they are conscious of them or not.
In a recent post, I discussed 5 Steps to Building Your Finance Dream Team, which summarizes my thoughts on how a CFO can build the best Finance Team possible.
Younger CFOs need to recognize that finance talent with more years than they have can bring them a perspective and approach that bright-eyed and bushy-tailed talent may not be able to deliver for them.
I highly recommend that a Younger CFO:
1) Include capable and experienced Finance talent that is older than they are; and
2) Develop the skills and confidence necessary to properly manage and further develop Older Finance Talent.
The Finance Team supports the CFO. The CFO needs the best talent for their team.
Remember: The best talent can come from all age groups. Don’t put yourself at a disadvantage by ignoring this important talent pool.