Bringing Job Mobility to the CFO

CFOs are getting involved in more and more aspects of the business. A recent survey of more than 1,400 CFOs conducted by Robert Half Management Resources, found 27 percent of CFOs are getting more involved in operations, 19 percent in human resources, 17 percent in marketing and 15 percent in information technology.

A recent article in Fortune magazine, supports this finding by pointing out today's CFOs focus on much more than the numbers. The Fortune article notes a strong CFO is a great general manager who can work well with external stakeholders while still being able to manage complex mergers and other transactions.

CFOs are gaining this experience by moving around and taking on responsibilities well outside the natural reach of finance. CFOs and other finance professionals who are not pursuing this type of broader background might find themselves at a disadvantage.

"Today's CFOs are strong general managers who understand how different parts of the business fit together," says Gerry Ledford, president of HR consultancy Ledford Consulting Network in Redondo Beach, Calif. "CFOs would not have gotten that way without rotating assignments that gave them a direct understanding of how the company works."

This goes for current CFOs with greater aspirations for their current company, a desire to move to a new position and for younger finance professionals who aspire to be a CFO. For example, a CFO of a smaller company who wants to move up to a larger company might benefit from taking on new types of jobs and assignments. "Smaller companies often have talent shortages and may be happy to have the CFO or someone from finance playing a different ballpark," says Ledford. "If you are really capable, they may be willing to let you try your hand with a different kind of position."

The key is to break out of the finance mold and gain new experience and skills. A recent post, provides insight into how job mobility works and how it can help professional improve their skill sets and backgrounds to achieve their career goals.

"This is about breaking out of the mold and being forced to rely on something other than simply managing the numbers," says Ledford. "This is about giving people enough exposure to different things so that they can see what they can do and want to do."

However, individuals taking on these assignments and seeking new experiences are not guaranteed success. After all, "not every person in finance is going to be able to take an assignment and be a meaningful contributor in sales and marketing or technology or HR," says Ledford.

In an upcoming post, we'll talk about the elements of and how to manage a job mobility program for finance professionals.