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3 ways for CFOs to power on

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Power on button Today’s CFOs have a chance to plug into the “new normal” they want since their focus has broadened and shifted during the COVID-19 crisis. They have an opportunity to restructure their responsibilities and embrace a leadership role that will help shape the future of their organizations.

Ways to do that include:

Focus on leadership strengths. Delegation, automation, training and outsourcing are all areas for CFOs to consider as they shape their finance functions. They can draw more broadly on the full set of skills available within the organization. Such steps can let CFOs focus on their areas of strength while ensuring accountability for all responsibilities under their umbrella.

Broadly engage the team. Offering a safe space to fail, to share ideas and to think outside the box is a good start to promoting inclusion within the finance function. Supporting both traditional and newer talent is low-cost and offers a high return as every employee at every level has the opportunity to put their best thinking forward.

Make innovation work for you. One way to promote innovation is by focusing on incremental changes instead of going for a big bang. A micro-innovation approach lets CFOs build a culture of innovation that can yield results quickly while allowing them to be agile and flexible in their response.

See more insights from our 2020 CFO Survey Report