CFO.com published an excellent thought provoking opinion piece called Why Your Company Should Have More ‘Slackers’ by John Boudreau, Professor at USC and Research Director at the Center for Effective Organizations.
The question the piece left me with was “Does Finance work too much?”
Last week in my blog, 5 Reasons why Talent Development is a Challenge for CFOs, I discussed the challenges CFOs face in building, retaining and developing their Team for long term success.
One point that I alluded to in my last blog, but did not mention, is that Finance is often too busy working on deadlines and projects to take the time to think and chill. Boudreau makes the point that “planned and mindful slacking off may help optimize talent performance’.
In essence, I see that in too many cases, Finance is usually too busy for thinking or planning or development. Deadlines always are around the corner (or have just passed), and there is not enough resources to make time for down time. Finance is always too busy.
When the Finance Team is burning the candle at both ends, it will burn out quickly.
A Finance Team that is not taking the time to build will fall apart. People will be less productive if they have to work 80 hour weeks on a regular basis, or will leave.
When a CFO properly plans their staffing requirements, prioritizes talent development and gives their team time to think, the Finance Team will be stronger, and so will the company.
CFOs: What do you do to keep your Finance Team fresh, focused and adding value?