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CFO Transition Lab™
CFOs across the globe are being called upon to fill expanded leadership roles. Boards and CEOs want them to be strategic partners. CFOs increasingly have to oversee other critical operations, including information technology and human resource issues of their finance organizations. Given these demanding roles, it is not surprising that CFO turnover is high. That is why we created a powerful CFO Transition Lab™ experience—to help newly appointed CFOs, including those with prior CFO experiences, make efficient and effective transitions.
A single day to map the first six months of your journey
Our CFO Transition Lab™ is a one-day experience based on our extensive research on CFO transitions. The agenda focuses on the three most important resources CFOs should consider managing during their transitions:
a) personal and organizational time management
b) talent in the finance organization, and
c) critical stakeholder relations.
The CFO Transition Lab™ builds on our Taking the reins: Managing CFO transitions research to help CFOs as they create a tangible 180-day work plan with four work streams:
- Define and communicate priorities
- Assess and develop a talent strategy
- Understand and influence specific stakeholders
- Frame tangible actions to execute priorities
Planning ahead: What CFOs can explore in the Lab
- Transition experiences—critical moments and organizational context
- Hopes, fears, and legacies— mapped to what is known about their CEOs’ agendas
- Priorities—use Deloitte LLP’s Four Faces of the CFO framework to identify priorities and classify the urgency and importance of each
- Confidence—assess the preparedness of their finance organizations to execute top priorities and ways to increase confidence in outcomes
- Talent—examine capabilities and bandwidth of direct reports, as well as the scope and efficacy of reporting relationships
- Relationships—focus on the strengths of specific relationships and influence strategies important to a CFO’s ability to achieve priorities
- 180-day plan—CFOs can create action plans with specific milestones
Deloitte CFO Programs have delivered more than 1,000 CFO Transition Lab™ sessions in more than 25 countries, spanning the U.S., Canada, U.K./Europe, Australia, Brazil, South and East Africa, and Asia and the Middle East. A powerful, structured and confidential one-day experience, the labs are custom-designed sessions that helps recently appointed CFOs effectively transition and prepare for expanded “strategist” and “catalyst” roles as they navigate a critical moment that matters in their careers.
In India, we have facilitated seven CFO Transition Labs™ for the CFOs of leading organizations.