The official blog of Abacus Group — a place to share our knowledge and thoughts on trends in recruiting

October 16, 2014

Newly Appointed and Aspiring CFOs: Get Your Company Where You Want it To Be

cfo-business-growth
A Tuesday publication from AccountingWEB, “6 Steps to Becoming a Star CFO,” really caught our eye this week.  The article relays advice from HR consultant/organizational architect Tim McConnell, a PwC alumnus working primarily with CFO and CEO clients, and is an excellent resource for aspiring or newly promoted Chief Financial Officers. Aware that payroll is “the single largest expense” for most companies, McConnell posits that the key to addressing your paramount concern – “Is your company where you want it to be?” – lies at the intersection of effective people management and a winning compensation strategy. How much should we pay an employee for this position? Do we need to consider caps on raises? Can we allocate additional funds toward recruitment and retention efforts? These are just a few of the endless considerations associated with managing staff, maintaining engagement and compensating appropriately. McConnell answers such concerns with recommendations to be cognizant of employees’ activity levels (too busy, or not busy enough?), to award raises to the best performers when deserved and to respect preferences for flexible work.

You can read the full article here, which details six recommendations from McConnell that should be adopted by anyone in a financial leadership role.

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