Building the Best Finance Team Possible Through Talent Management

1© 2013 Ask, Share, Learn

www.proformative.com

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Building the Best Finance Team Possible Through Talent ManagementPreparation for Talent Management Process

Mark Richards – Proformative Advisory Board & SAP Cloud for MoneyMaterials presented within are property of Mark Richards/CandidatesChair.com



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Best Advice From Human Resource Colleague

“My role is not to understand Finance, my role is who to know in Finance.”

“Why? Because I’m not working in Finance day-to-day – I understand the role, but not the key nuances to deliver – that’s where you come in.”

HR will lead talent management, Finance will lead HR where to take our talent.



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Mark Richards

25+ years in Finance - 5 industries, public, private, start-up, early stage and global entities

Managed finance teams for 20+ years - local, remote and international

CandidatesChair.com & Advisory Board of Proformative

20+ tools created – 30K downloaded

Proformative blog: Networking & career search – 80K+ reads

Currently with SAP Cloud for Money



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Our Role in Alignment of Team

Visualize the business direction & map it to Finance

Identify the skills needed and where you stand today

Building to your future Team through Career Planning and Hiring

My objective: Share how I solved my own problem of preparing for broader talent management



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Putting Into Action

Keep the process simple

Involve your entire team – starting with your direct reports

Leverage your systems. Less manual work = higher likelihood to repeat

Use this as a starter set of ideas to get yourself prepared



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Visualize the Business = Talk as Operator

CFO surveys: ½ of time on compliant financials – leaves less time for being ‘in’ business

Commit time in field for discovery

Your discovery goal: Confirm & Learn Where is the business heading

Path needed to get the business there

How is success measured – especially along the way

Upcoming slides - 3 sets of discovery questions



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Phase 1a: What Should We Sell?Solution may be more than single product

Clarify specifics where possible

Ask: What are the indicators of success?

Multiple divisions – divide with team



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Phase 1b: What Should We Sell?

Your support:Planning, business case, analysis, project plan, KPIs,Chart of accounts

Build Your Dream team:Skills required to deliver (near-term & future)



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Phase 2: How Should We Sell?

New elements added for skills: Need by product, geography or sales channel Competition: Often

leads to build vs buy – where M&A can come into play (or divesting)



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Phase 3: How Do We Deliver?

Focus on how to link strategy & tactics

Governor on growth - usually most expensive to overcomeFinancial skills a

good fit to building even-handed business case



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Identify Where You Stand Today

How to support: Highlight near-term vs. future

Train or Hire: Initial assessment of team

Review full grid: Perform with immediate team and HR – the result is skills needed, gaps, how to fill and when



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Building the Team – Train

First hurdle: Urgency to deliver near-termTime to deliver vs. Time needed to train

Second hurdle: Benchmark talentStaff self-assess of their skills – validate your assessment

Third hurdle: Opportunities to train3rd party training vs. hands-on – what is best & realistic

Fourth hurdle: Match with staff career goalsBest performance is when need matches goals



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Building the Team - Hiring

Help HR to Help YouBuild a profile of skills needed in what priority

Create specific questions that HR can ask candidates about the skills/experience you need

Give the titles/industries of roles likely to develop/utilize skills needed (remember, you’re the finance expert) – add this to your grid wherever ‘Hire’ is marked



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Success Story

Through discussions with Sales team - discovered we were expanding to Latin America

Integration into broader organization was critical (cash, risk, etc.)

Career plan of staff member indicated they wanted to work in Latin America – moved into new role

Local teams appreciated finance team that could guide their integration



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Other Benefits Discovered Along The Way

Discovery – Impact on team:Stronger relationship with field, thought differently about what we currently delivered and invites to strategy/ops

Talent Assess:Found common needs – able to consolidate training

Self-assessment – better visibility to skills

Career planMore open dialogue with team on future – avoided gaps from people leaving



#CFOD13Thank You!Building the Best Finance Team Possible Through Talent Management



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Mark RichardsSAP Cloud for Money

[email protected]

Please send e-mail with follow-up Questions or discuss experiences

mailto:[email protected]



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Building the Best Finance Team Possible Through Talent Management

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