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You Hired the Michael Jordan of Finance: Now What?

corporate finance & accounting gurusThere is no doubt that acquiring and retaining top notch finance talent are among the top  challenges CFOs will face in driving growth in 2015. I would like to gain some insights around how CFOs successfully onboard a person when they add someone they view as a Finance Guru to their team. What do you need to do to show your new star they made the right choice in choosing your company  What are things you can't afford to do?

Answers

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

You can't have "no" people.

You hired that Guru to either "shake-up" the organization or at the very least improve the organization.

If they spend an inordinate amount of time circumventing the "no" people (and lets define this as people whose first answer is "no". Their thought process is: "it can't be done"; without thinking about or researching the possibility that it can be done. These people offer no alternative or other solutions except the "no".

So, the "no" people either have to go (not an easy choice) or senior management needs to impart an "anti-no" attitude.

I've seen this in turnarounds, where the "no" we can't do this people slow down the turnaround, while the business tumbles slowly into bankruptcy. By the way, these people have a vested interest in the company (it's their livelihood, often times for many years), but just can't get out of their own way.

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

It is NOT just a matter of hiring a Jordan, a James, or a Bryant. Each of these "stars" found out the hard way that their skills alone cannot give them championship rings. Heck, even Miami found out that having 3 star players (on it's own) does not matter . In each and every instance, the attitude, perspective and the role that the "star player" will play and the team members around him is what counts.

Eunice Chu
Title: Manager
Company: None
LinkedIn Profile
(Manager, None) |

No one star can save or improve the company \ department. "Even the best seed would only flourish in the right soil". If the environment, the other team members, departments, process and systems do not cooperate or function as they should, your "star" soon will find out he cannot shine in the role and the CFOs may lose him

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