How to remain a top tier CFO in 2024 and beyond

 For CFOs to remain competitive and ensure their employability in 2024, it is crucial to update their tech skills continually. At C Graham Consulting, we specialize in executive search and understand the evolving demands of the financial landscape. Here are some strategies tailored to CFOs seeking to enhance their tech skills and maintain their marketability:

1. Embrace Continuous Learning

- Online Courses: Enroll in online courses focused on emerging technologies, data analytics, and financial software. Platforms like Coursera, edX, and LinkedIn Learning offer specialized courses for financial professionals.

- Certifications: Obtain certifications in relevant areas such as data science, cybersecurity, and financial modeling. Certifications like CFA, CPA with a focus on technology, or specialized tech certifications e.g., from Microsoft, Google, or AWS can be valuable.

2. Understand and Utilize Advanced Analytics

- Data Analytics Tools: Learn to use advanced data analytics tools like Tableau, Power BI, or QlikView. Understanding how to interpret and leverage big data can provide significant strategic advantages.

- Predictive Analytics: Gain skills in predictive analytics and machine learning to forecast financial trends and make data-driven decisions.

3. Leverage AI and Automation

- AI Applications: Understand how AI can be applied in financial forecasting, risk management, and process automation. Familiarize yourself with AI tools that can streamline financial operations.

- Robotic Process Automation RPA: Learn about RPA to automate repetitive tasks and improve efficiency in financial processes.

4. Enhance Cybersecurity Awareness

- Cybersecurity Training: Participate in cybersecurity training to understand the risks and safeguards associated with financial data. This knowledge is crucial for protecting sensitive financial information.

- Compliance and Regulation: Stay updated on the latest cybersecurity regulations and ensure compliance within your organization.

5. Adopt Cloud Technologies

- Cloud Computing: Gain proficiency in cloud computing platforms like AWS, Azure, and Google Cloud. Understanding cloud infrastructure can help in optimizing financial systems and data management.

- ERP Systems: Familiarize yourself with modern ERP systems that are cloud-based, such as SAP S/4HANA, Oracle ERP Cloud, or Microsoft Dynamics 365.

6. Stay Informed on Fintech Innovations

- Blockchain and Cryptocurrencies: Learn about blockchain technology and its applications in finance, including cryptocurrencies and smart contracts.

- Fintech Solutions: Explore new fintech solutions that can enhance financial operations, such as digital payments, peer-to-peer lending, and robo-advisors.

7. Develop Strategic IT Partnerships

- Collaborate with IT Teams: Work closely with IT departments to align financial strategies with technological capabilities. This collaboration can lead to more effective implementation of tech solutions.

- Tech Conferences and Networking: Attend tech conferences, webinars, and industry events to stay informed about the latest trends and network with tech professionals.

8. Foster a Culture of Innovation

- Innovation Mindset: Encourage a culture of innovation within your finance team. Promote the exploration and adoption of new technologies.

- Training Programs: Implement training programs that focus on technology adoption and digital transformation within the finance department.

9. Use Advanced Financial Software

- Financial Planning and Analysis FP&A Tools: Stay proficient in the latest FP&A tools that leverage AI and machine learning for better forecasting and budgeting.

- Accounting Software: Keep up-to-date with the latest accounting software that integrates new technologies to improve efficiency and accuracy.

10. Soft Skills Development

- Leadership and Change Management: Develop skills in leadership and change management to effectively lead technology-driven transformations within the organization.

- Communication Skills: Enhance communication skills to articulate the benefits of new technologies and drive adoption across the organization.

We understand the critical importance of tech-savvy leadership in today's financial landscape. Our executive search services are tailored to identify and place CFOs who are not only financially adept but also technologically proficient. We help our clients find candidates who:

- Stay Ahead of Tech Trends: We identify CFOs who continuously update their tech skills and are knowledgeable about the latest advancements in financial technology.

- Drive Innovation: We look for leaders who can foster a culture of innovation and leverage new technologies to drive business growth.

- Ensure Security and Compliance: Our candidates understand the importance of cybersecurity and compliance, ensuring that financial data is protected, and regulations are met.

- Collaborate Effectively: We seek CFOs who can work seamlessly with IT departments and other stakeholders to implement effective tech solutions.

By focusing on these attributes, C Graham Consulting ensures that our clients are equipped with forward-thinking financial leaders who can navigate the complexities of the modern business environment.

https://www.cgrahamconsulting.com

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The Success of Military Team Culture and the Struggles of Modern Corporations

Over the years I have encountered many ex-military personnel who have made the move into the corporate world. Several friends I went to university with still serve in the UK, US and French military. One key point that always caught my attention was the great team culture that they experienced in their roles in the service and how different it was in Civvy street. Some, that managed to recruit a number of ex-military into their teams in civilian roles often had a strong culture that mirrored their previous lives.

HR and business leaders often talk about culture, whilst team members find, that these days, there is a lack of it.

What are some key points that can be identified as successful? Let’s consider some of the following…

 The Military’s Model of Team Culture

The effectiveness of military organizations in fostering a strong team culture is renowned. Rooted in centuries of tradition, the military’s approach to team building is both disciplined and deeply communal. This success can be attributed to several key factors:

1. Clear and Shared Objectives: Military units operate with a clear sense of purpose and mission. Each member understands their role and how it contributes to the larger goal, creating a cohesive unit that functions as a single entity.

2. Rigorous Training and Preparation: The military invests heavily in training its personnel, not just in terms of skills, but also in resilience and teamwork. This continuous, intense training fosters trust among team members, as they must rely on one another under high-stress conditions.

3. Hierarchical Structure: A well-defined hierarchy and chain of command help eliminate ambiguity in decision-making processes. This structure ensures that every member knows exactly who is responsible for what, fostering a sense of order and accountability.

4. Strong Leadership: Leadership in the military is not merely about giving orders. It involves mentoring, guiding, and supporting team members to achieve their best. Military leaders are also often seen sharing the hardships and risks, which builds respect and loyalty from their subordinates.

5. Unity and Identity: The military culture promotes a strong sense of identity and belonging. Uniforms, badges, and rigorous rituals all serve to create a unified group identity that transcends individual backgrounds and personal differences.

 Corporate Challenges in Team Building

While many corporations aim to emulate the military’s team culture, especially in terms of unity and efficiency, they often face unique challenges that stem from the very nature of modern corporate environments:

1. Diverse Objectives: Unlike the military, corporate teams often have members with varying personal career goals and departmental objectives. This can lead to conflicts or a lack of alignment in team efforts, undermining collective outcomes.

2. Fluctuating Membership: In the corporate world, team compositions can change frequently due to new hires, departures, or internal transfers. This constant change can disrupt team dynamics and hinder the development of trust and cohesion.

3. Less Defined Hierarchies: Modern corporate structures tend to be less hierarchical and more fluid than those in the military. While this can encourage innovation and flexibility, it can also lead to confusion and conflict over roles and responsibilities.

4. Short-term Focus: Corporate teams often face pressure to meet quarterly goals and other short-term objectives. This can divert attention from long-term team development and discourage the investment in deep, trust-based relationships among team members.

5. Implementation of D&I Initiatives: Diversity and inclusion (D&I) are critical for corporate entities, aiming to create a fair and equitable work environment. However, without proper integration, these initiatives can sometimes feel like tick-box exercises rather than genuine efforts to improve workplace culture. Balancing diversity with the need for unified corporate identity and culture can be a complex challenge that corporations are still learning to navigate.

The military’s success in building a robust team culture is deeply integrated into its operational fabric, designed to face extreme conditions with unity and precision.

Corporations, although operating in a radically different environment, can draw valuable lessons from this model. Key among these is the importance of clear objectives, consistent leadership, and a strong sense of shared identity.

However, adapting these elements to the diverse and dynamic nature of corporate life remains a significant challenge, one that requires innovative thinking and a genuine commitment to long-term team culture development.

#TeamCulture, #Leadership, #CorporateCulture, #MilitaryLeadership, #Diversity And Inclusion, #CorporateChallenges, #OrganizationalDevelopment, #TeamBuilding,

#BusinessStrategy, #HumanResources

https://www.cgrahamconsulting.com

Combating Ageism in the Global Job Market

Ageism in the job market presents a critical challenge that not only limits the opportunities for skilled older workers but also diminishes the talent pool available to industries globally. Over the last few years many candidates I have spoken to, have seen a rise in ageism and prejudice hiring practices. Many have been directly affected by this, myself included. I was told 5 years ago that I was old… by a recruiter. If people in their 40’s are old, (they are actually half way through their career), then you can only imagine the challenge for someone in their 50’s or early 60’s.

Cost is a factor yes. But not always.

Impact on Global Talent

Age discrimination leads to underutilization of experienced workers, significantly impacting sectors where seasoned expertise is invaluable. McKinsey's research points to the systemic screening out of older candidates, often based on outdated perceptions of their technological prowess and adaptability. This exclusion is not just a loss for the individuals but for the industries that stand to benefit from their experience and leadership.

Causes of Ageism

The persistence of ageism is largely fuelled by stereotypes and cultural biases that undervalue the capabilities of older workers. These biases are entrenched in hiring practices and organizational cultures that mistakenly associate age with decreased innovation and resistance to change. McKinsey's findings challenge these stereotypes by showing that older and younger workers value similar aspects of employment, such as meaningful work and career development, suggesting that the capability to contribute significantly does not diminish with age.

Solutions and Strategies

To address ageism effectively, a multifaceted approach is necessary:

 Innovative Hiring Practices: Implementing demonstration-based interviews and adjusting hiring criteria to focus on actual skills and job performance rather than age.

Continuous Professional Development: Encouraging lifelong learning and ensuring that all workers, regardless of age, have access to training and upskilling opportunities.

Inclusion in DEI Strategies: Explicitly incorporating age diversity into diversity, equity, and inclusion strategies to foster a more inclusive corporate culture.

Implications for Executive Search

For executive search professionals, the integration of age inclusive strategies could broaden their candidate pools and enhance the quality of leadership in organizations.

By promoting age diversity, executive search firms can lead organizational change, demonstrating the value of experience and maturity in leadership roles. Furthermore, by advocating for and implementing the aforementioned solutions, they can influence broader industry standards and help mitigate age bias at all levels of employment.

Conclusion

Combating ageism in the job market requires a concerted effort to change perceptions, implement fair hiring practices, and promote inclusive policies.

By leveraging these insights, businesses and executive search firms can take a leading role in this endeavour, ensuring that talent is recognized and valued at every age, thereby enhancing innovation, stability, and growth in the global economy.

This unified approach not only addresses a pressing social issue but also opens up avenues for sustainable business practices that embrace diversity in all its forms.

What are your thoughts on this?

Have you experienced challenges due to your age when seeking a new role?

#CareerAdvice #HR #HumanResources #JobSearch #EmploymentOpportunities

www.cgrahamconsulting.com