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Archives for October 2012

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LinkedIn’s new Tool: Endorsements

If you have been reading my blogs for a while, you know that I am a big fan and user of LinkedIn. (You can read my LinkedIn related blogs by clicking here).

Until recently, the only tool that LinkedIn had for others to confirm that you are as good as you said you were was its Recommendations feature. This is a good tool, but requires the person writing the Recommendation to make a big commitment to you – they needed to essentially write a letter as to what they like about you and where you’ve added value to them and their company. Few people actually used this feature because of the commitment involved.LinkedIn is an excellent tool for business professionals. It allows them to brand themselves and stay connected and expand their professional network.

LinkedIn’s Endorsements feature is based on what you’ve identified as your skills and expertise, and others click to say “I agree” that you have this skill set. It’s an easy and effective tool.

I’ve enjoyed the past few weeks as people I know have endorsed me. It is interesting to see who actually thinks I have the skills I say I have, and I appreciate everyone’s endorsement.

To get the best out of the Endorsements feature, it is important that you properly identify your Skills & Expertise in LinkedIn. For example, if you are branding yourself as a CFO, do you really want to be endorsed for your Excel Skills?

Are you using Endorsements?

Do you find value in this LinkedIn feature?

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The Quick CFO Turnaround

This is not about a CFO turning a business around quickly.

This blog is about the Quick Hiring & Unhiring of a CFO.

As someone that tracks CFO Moves every week across the country, I see this too often. Every time I see it, it bothers me, especially when I know that it could have been avoided in many cases. Here is one recently reported example of one Quick CFO Turnaround – Ulta Beauty CFO out after 6 weeks on the job.

An outsider will never really know the reason a person leaves their position. Like a divorce, there is the official story, the company’s story, the employee’s story and the real story.

That being said, here are some things that can be done to ensure CFO hires are done well, and can be successful over the long term.

    • CFO Readiness: Previously I wrote Are you Ready for your First CFO? The same Readiness that applies for a company’s first CFO applies when a company has had a CFO for a very long time and needs to change.
    • Onboarding: CFOs need to plan their Onboarding. My take on Onboarding is in blog The First 90 Days of a New CFO. As one CFO who went through a Quick Hiring & Unhiring told me recently “I wish I read the book before I accepted the job”.

Hiring for any executive level position needs to be treated seriously. Unfortunately, in too many cases, companies that do not treat their executive level hiring needs with the proper attention and resources necessary. This can end up doing serious damage to their company.

Many executives that are approached for career opportunities rely on their own business acumen to assess and accept career positions. When executives, CFOs included, are looking at career opportunities for themselves, they should know that they are minimizing their own career risk when the company they are being considering by is working with a reputable Executive Search firm.

CFOs: Has being hired by a company that worked with an Executive Search firm make a difference to your career?

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Information Security: One More CFO Responsibility

I was in an airport recently and couldn’t help overhearing a conversation. The people speaking had no clue who I was, but it was easy to figure out that they worked in Finance for a known publicly listed company. The information they were sharing with each other was certainly sensitive, and maybe even damaging to the company.

All I could think of is: What would their CFO do if he knew his employees were sharing information that could damage the company?

Chief Financial Officers have many responsibilities. In addition to all the Finance functions, they have to have a strong working knowledge of the issues surrounding operations, human resources, and IT.

CFOs are also responsible for ensuring that the sensitive information Finance deals with on an ongoing basis is secure. This information security is not only an IT issue, but a human issue as well.

CFOs:

    • Do you have Information Security policies for your Finance Team?
    • What do you do to ensure your Finance Team complies with these policies?

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CFOs: Can you be Leader & Friend?

[youtube=http://youtu.be/0nlsdk0QSvA]

I always find Mike Lipkin to be inspiring and I look forward to his video messages.

His recent video message (you can also read his recent insight) can certainly apply to CFOs as they continue to look to improve their Leadership.

CFOs: Can you be a Leader & a Friend?

Contact Information

You can reach Samuel by:

Telephone
San Francisco: +1 (415) 738-2070
Montreal: +1 (514) 907-0925

Email: [email protected]