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Making the Right Hire Can Make Financial Planning Simpler

Making the Right Hire Can Make Financial Planning Simpler

With the fourth fiscal quarter upon us and the end of the year nearing, companies are thinking about financial planning for 2012, with cost savings still at the forefront of the minds of most CFOs.

One way to make this planning process easier and avoid major headaches can be to ensure that the best possible staffers are being hired, as this can give companies the peace of mind that they will not be handcuffed by an employee who doesn't work out.

According to CFO Magazine, the hiring manager hat for finance chiefs has become critical for this reason, and these executives need to understand that the technical skills of an applicant can often be overrated.

Citing a survey from consulting firm LeadershipIQ that tracked 20,000 new hires over a three-year span, CFO notes that only 11 percent of those hired who failed within the first 18 months did so because of technical incompetence, while the others struggled in areas from emotional intelligence to motivation.

The survey echoed the recent sentiments of CDW CFO Ann E. Ziegler, who told IDG News Service that a candidate's motivation and "fire in their belly" can often outweigh a lack of technical abilities needed for the specific position.  

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