The Future Ready CFO ���Leading in Disruptive Times
Tom Hood, CPA, CITP, CGMACEO
Maryland Association of CPAsBusiness Learning Institute
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If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today
Tom Hood, CPA, CITP, CGMA
CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential Person in Accounting by Accounting Today Magazine Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management, Leadership & Generations
CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org
http://www.linkedin.com/in/tomhood/
The # 1 Challenge
The Overwhelmed Employee
The average US worker now spends 25% of their day reading or answering emails 25%
More than 80% of all
of companies have a program to “simplify work” or help employees deal with stress.
16%
The average mobile phone user checks their device times a day. 150
of the US population believes it is impossible to succeed at work and have a balanced family life.
40%
The “average” US Worker works 47 hours and 49% work 50 hours or more per week, with 20% at 60+ hours per week
companies rate their business “highly complex” or “complex” for employees.
Source: Deloitte Human Capital Trends 2014 and 2015
#FutureReady!Is the capacity to be anticipatory (aware, predictive and adaptive) of emerging technology and trends in business, demographics, and the social environment impacting your organization and industry.
Source: CPA.COM Insight into the CPA of the Future Study 2014
92% of CPAs Not #futureready
Borrowed from the US Army War College, VUCA was coined by Bob Johansen of The Institute for the Future to describe the rapidly changing and complex business environment since the Great Recession of 2008.
“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.”
Klaus Schwab on The Fourth Industrial Revolution – World Economic Forum
www.blionline.org
Exponential Pace of Change
Big Waves of Change
Race Against the Machines?
Source: Frey & Osborne – The Future of Employment – Oxford University
“One interesting finding of the survey is that CPA firms, early majority or not, don’t really see a competitive threat from specific challengers.”
– Erik Asgeirsson – CEO of CPA.COM
You can’t stop the waves, but you can learn how to surf. – Jon Kabat-‐Zinn
5 Steps to be Future Ready
1. Initiate Change2. Go Digital3. Elevate Skills4. Protect the
Core5. Enjoy the Ride
If it can be done it will be done and if you don’t do it, someone else will. – Dan Burrus
Initiate Change
Go Digital - Create Capacity
1. Maximize software & tools you have
2. Use the latest and most efficient technologies
3. Workflow & Process Efficiency
4. Engage your people
MACPA’s Digital Transformation
Cloud/Mobile Strategy1. Digitization & workflow –shifting resources and
systems to growth areas
2. Virtualization – Moving IT infrastructure to cloud
3. Transformation to cloud – Increase use of existing systems of engagement (collaboration and communication tools)
4. Transformation to cloud – New cloud based systems – accounting
5. Transformation to cloud – Move AMS and MACPA website
If you automate, you must elevate, (the skills of your team).- Mike Walsh futurist
Top Skills Needed for Accounting and Finance Professionals
BLI Research in 2015 with over 1,000 responses from all segments of the CPA Profession identified these top skill needed to be successful in these rapidly changing times. This confirms and reinforces the research from the Conference Board, AICPA CPA Horizons 2025 report, Bersin, and Burrus Research..
75% covered by these Top 5
Skills
• Anticipating, introducing and managing change;• Building consensus and commitment;• Inspiring others toward a challenging future
vision;• Leading across generations and mobilizing
people around a shared purpose.
The top four skills needed to navigate a VUCA world
BLI Leadership Academy and The Anticipatory Organization learning
programs address these critical competencies and more.
Source: Conference Board 2015 Ready-Now Leaders Report
Are you addressing the GAP?���Competencies for Finance & Accounting
Source: CEB
• An>cipa>on • Strategic Thinking • External
Awareness • Vision • Con>nuous
Learning • Innova>on • Crea>vity • Problem Solving • Priori>za>on
• Business Acumen • Decisiveness • Influencing/
Persuading • Emo>onal
Intelligence • Consensus Building • Collabora>on • Inspira>on • Risk Management • Communica>on
www.blionline.org/ao
28 lessons – 4 modules – 1 hour/week • Very short single-‐concept videos (mini TED Talks) • Rapid applica>on exercises • Visual job aids to reinforce learning
Anticipatory Organization - designed to learn more in less time
Core values: • Integrity • Competence • Lifelong learning • Objectivity • Commitment to excellence
CPAs…Making sense of a changing and complex world
CPAs are trusted advisors who help people and organizations shape their future. Combining insight with integrity…
Protect the Core – Purpose & Values
We are in the “Groan Zone”
Enjoy the Ride – Learning and Innovation
5 Steps to be Future Ready
1. Initiate Change2. Go Digital3. Elevate Skills4. Protect the
Core5. Enjoy the Ride
Closing Thoughts
Rearview Mirror to Windshield View Past to Future Reactive to Proactive
Insight to Action
CFOs are PROACTIVE!
Disruption and RONI���The gap is widening, faster!
Source: Clayton Christensen, “Innovation Killers”
We think this is trade-off
Calendar - The No. 1 AppSpend just one hour per week in the future…
Vote for a question
Respond to Poll
Ask a Question
BLI.CNF.IO Select your sessionand join the conversation:
Future Ready CFO Mid-‐Atlan>c CFO Roundtable Par>cipant Feedback & Polls
October 14,2016
Top 5 Challenges 1. Being reac>ve versus proac>ve 2. Finding & Retaining Talent 3. Not enough >me 4. Changing Accoun>ng & Technology
Systems 5. Doing more with less
Top 5 Skills Needed
1. Communica>on 2. Strategic & cri>cal thinking 3. Innova>on & Crea>vity 4. An>cipa>ng & serving evolving needs 5. Inspiring and mo>va>ng others
www.blionline.org
http://www.blionline.org
For more information:
Jennifer Stevens – Corporate Customized Learning Solutions ConsultantE: [email protected]: 443-632-2317
This led to our work with world renowned futurist and business advisor and best-selling author, Daniel Burrus of Burrus Research. We worked with Dan to add the context of the accounting and finance profession to his Anticipatory Organization learning system to create the Anticipatory Organization” Accounting and Finance edition.
http://www.blionline.org/ao
• An>cipa>on • Strategic Thinking • External
Awareness • Vision • Con>nuous
Learning • Innova>on • Crea>vity • Problem Solving • Priori>za>on
• Business Acumen • Decisiveness • Influencing/
Persuading • Emo>onal
Intelligence • Consensus Building • Collabora>on • Inspira>on • Risk Management • Communica>on
www.blionline.org/ao
Next Generation learning with 28 lessons in four modules three – four
minute single concept videos and rapid application tools to apply the learning directly to
the job. Organization and team collaboration tools to
support culture change.
Five hours of CPE Credit
• 14-16 hours of learning in bite size nano format
• 100 pages of job aids and exercises
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