Hazel Kassu is the managing director of Houston-based recruiting firm, Sudduth Search.
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Market turbulence can push us all to our limits, but the reality is that an individual enterprise has little to no influence on overall conditions. It is in times like these that we must identify what we can influence and begin conducting business accordingly. And something that is very much in a company’s control is its internal finances. So if your SME outsources CFO responsibilities, you might want to consider if that is still fit for purpose. By recruiting a great financial leader now, you will be better poised to weather future market corrections.
When you think about hiring a financial leader, what “must haves” immediately come to mind? Certainly, a strong technical accounting background and education are musts, as is industry experience in many cases. But beyond that, what will enable the candidate to excel? Great financial leaders are trained to see the big picture. They are team builders and team players, and they partner with operations. They are analytical and detail-oriented, but they are also strong communicators. They are constantly looking for ways to improve processes and to create win-win scenarios. These intangibles are what make the difference between a good and a great leader.
As you evaluate financial leaders for your business in the current climate, I would encourage you to look for these key qualities and traits:
1. An Innate Problem-Solver (Solution-Oriented)
One of the most critical intangibles to look for in a financial leader is a mindset that’s solution-oriented rather than problem-focused. Great financial leaders take intentional steps to find solutions regardless of the situation or fault. They are flexible and open to listening to and incorporating others’ ideas. In fact, they actively seek the input of their co-workers. They see opportunities for improvement and betterment of the organization, not barriers to success. These are the leaders who can be counted on in challenging times.
2. Analytical Skills And Insight
Analytical skills, along with logical thinking, are one of the trademark skills most people will associate with financial professionals. The key here is finding a financial leader who can take and analyze a variety of financial information, identify patterns and trends, and then use interpersonal skills to convey their conclusions. The leader must share his or her insights in an easy-to-understand way, highlighting the costs and benefits to the business. Great financial leaders use their analytical skills to identify opportunities and then lead change management in their companies.
3. An Exceptional Leader
Great financial leaders are passionate. They set a positive example and motivate both themselves and their team. They are right there in the midst of problems facing their team and assist with finding solutions. They are holistic thinkers who understand the company’s goals, and they train and develop their team to grow both themselves and their colleagues. They love to see others succeed. They are always available as a resource for their direct reports and peers.
4. Communication And Interpersonal Skills
The best financial leaders have strong communication and interpersonal skills. They communicate well with all departments and levels of the organization. They have the ability to put themselves in others' shoes and to see things from their perspective, which often reveals how they can work together to find results that benefit everyone.
5. An Eye Toward Continuous Improvement
Great financial leaders take a broad approach. They are constantly analyzing procedures, looking for areas that can be optimized or for training opportunities. Efficiency is their top focus. Their goal is to make the business operate as effectively as possible while keeping customer service and safety number one.
6. A Business Partner
This may be the most important intangible trait in industries where a business has both a corporate staff and hands-on operators in the field. A great financial leader must make a point of working with and for operational leadership if they are to meaningfully affect the bottom line. One request I have heard repeatedly over the years is for financial leaders willing to go to the job site and meet with those on the ground. The financial leader who does this will gain a much better understanding of what is involved in the job, and operational leaders will see the level of commitment their colleague has to create a mutually beneficial situation.
As you evaluate financial leaders for your business, keep these traits in mind and consider their impact on the success of your company.
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