What’s the Role of the CFO in Team Building?

Posted on: June 15, 2017

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Topics: Team Building

As a CFO, you play the dual role of team member (of the executive team) and team leader (of your financial team). As a team leader, there are many things required of you as far as building an effective team. Team building is an art – but there is a lot of science to it too. So, what’s the role of the CFO in team building? Really, the same as any other team lead.

We’re not talking retreat-style team building activities here. Building a strong team, one that you can depend on, is no easy feat. However, when done correctly, the payoff is greater productivity and a boost to your bottom line.

As mentioned, as CFO you are a team member – and your team building actually has to start there. Working from the top down, your executive team needs to create and adhere to a mission statement the whole company – not just your financial team – can get behind. When it comes to team building, your role as team leader is to encourage employees to follow it.

On that note, having your own department vision helps too. By outlining exactly what you expect from each team member, you make it easier for your team to complete required tasks and create a sense of purpose for each person. If, during the process of creating this vision, you recognize that a restructuring of tasks is required, do it.

Remember that disruption isn’t necessarily a bad thing. From a financial perspective, innovation can be a great way to breathe new life into those old processes – ones that are not working to increase your company’s bottom line. Encourage your team members to get creative, to share their ideas on new strategies. This not only works to create a sense of responsibility and growth, it can also strengthen cohesion.

As CFO, you’re really only as good as your team. If your team isn’t performing well, it may be time to work on improving morale and redefining the goals and responsibilities of team members. Just because you tend to deal primarily in numbers, that doesn’t mean that you don’t have a role in building and maintaining a strong team.

At TGO, we have the tools that make streamlining your team’s processes easy, giving you the ability to improve productivity and increase team unity.

Get in touch with us today by calling (905) 470 6830 or visit www.tgo.ca.

Image credit: Joy Reactor