The CFO Coach

A Resume is Only the Gift Wrapping

Almost every CFO or finance executive who calls me does so because they “want” a resume, a professional–looking document that will win them their next job. Were it only that easy. The truth is, a resume is only the gift wrapping. 

What a serious, compelling candidate really “needs” is a clear understanding of his value in the marketplace and the ability to articulate that value to the right target audience. And that takes great effort, motivation, and determination.

Are You an Explorer?

If you are, recruiters are looking for you! What, exactly, is an Explorer?

Earlier this week, Lou Adler delivered a teleseminar for ERE.net entitled “A Story About Bulls and Bears - How to Tame the Economic Cycle.” The purpose of the seminar was to guide recruiters in sourcing top quality candidates in this crazy economic period where the tendency is even greater for candidates who are employed to stick their head in the sand and pretend their position is secure.

With all the “unemployed candidates” available, why would such a teleseminar even be necessary? If you’ve been following my posts, you know that I talk constantly about the high desirability and value of passive candidates. The Explorer is the crème de la crème of passive candidates.

Mr. Adler drew an arc and starting at the bottom left with an “employed candidate,” he continued along the arc with Explorers, Tiptoers, Googlers, Networkers, and Posters … these are the phases a candidate will pass through as he moves from job to job. According to Adler, the folks recruiters want are the Explorers … semi–passive and, because they are not looking, will need to be found by recruiters ... and NOT through public job boards.

Are you one? With a solid record of contributions, a clear and compelling brand, and a strong digital footprint, you, too, can be a highly–coveted Explorer. And if you are currently unemployed, the moment you land is the time to position yourself as the Explorer recruiters are seeking.

CFOs Paring Payrolls

Cold Cuts posted at CFO.com addresses the need for CFOs to cut payrolls … in every manner possible. At least the beginning of 2009 is going to be bumpy for a lot of people.

What was interesting to me was this statement at the end of the article …

Is there any bright spot to be found amid all this gloom? Yes, and it appears to be shining directly on CFOs: most respondents said they expect executive management to feel little or no impact from the coming cuts.

The very people surveyed feel their positions are not in jeopardy. Might I suggest they hold that belief at their own peril? Every executive is safe only as long as he is meeting projections. The moment he doesn’t, he is as vulnerable as everyone else.

At the risk of sounding redundant, you are the most valuable as a prospective candidate while employed. It behooves you, while you are feeling secure, to position yourself from one of power and proactivity rather then being forced to react to a situation over which you no longer have any control.

Once you lose your position, even with a big fat severance package in hand, your marketability will take a hit, it will take longer then you can imagine to get that next position, and your ego and confidence will be greatly tested along the way.

Leverage the power of being an employed, accomplished, and contributing executive now, while you still can.

Operational CFOs

For the past couple of years, I’ve suggested that CFOs with a proven track record and deep understanding of operations would be the most in demand and valuable CFO candidates of the future. Is the current financial crisis driving that train … even faster? If so, it is potentially great news for strategic CFOs with a solid business understanding of how operational functions interplay with the numbers. It is also potentially devastating for CFOs who have positioned themselves as primarily numbers guys.

A snippet from a recent article at CFO.com, “Future Tense” …

Some finance departments are beginning to incorporate methods such as scenario modeling, sensitivity analysis, and contingency planning to help CFOs think through a wide-ranging set of potential situations, thus avoiding a monocular view of what's ahead. They are refreshing forecasts more frequently, homing in on a handful of measures that have a financial effect on the company (so-called driver-based forecasting), and doing more to provide synchronous information flow between finance and operations.

Today might be a great day to have lunch with the COO!

More from the Kennedy Conference

Thanksgiving was here and gone and it’s already December. Only 3 weeks & 2 days until Christmas, and then we will speed right into the New Year. Are you already thinking about your New Year’s resolutions? Dreaming about what you would like to be different next year. Thinking and doing are two different things.

As you think, and plan to do, here are a few more gems tweeted from the Kennedy Conference that might help you in your planning.

––36% of CEO's lack confidence in their own company's recruiting department (Steve Lowisz, CEO of Qualigence)

It seems inconceivable that CFO–types would actually want to be going through HR to secure their next position. But, when you play the Internet job search/job posting game, that is exactly what you get … unless it is a specific TPR (third party recruiting) listing, and those are rare.

Sitting in front of a computer searching for posted positions on public job sites is safe, and a HUGE timewaster, because it is ineffective and keeps you from doing the things that are effective and will move you towards that next position. Remember the old cliché, “if it looks too good to be true it probably is.” It’s true.

HR is a screen designed to filter out candidates who do not meet the list of requirements. They have no decision–making authority. Great candidates rarely succeed in this process. Even if they meet all the skill requirements there is still culture fit, work ethic, and track record of bottom line impact to consider. Bypassing HR gives great candidates a fighting chance.

–– Elements of a killer brand: Choice and expectation. Every choice that will be made will be based on expectation. (Steve Bonomo and Steve Fogarty, Adidas)

Expectation – People make decisions in life – and in the hiring process - based on emotion. And decisions about the brands with which we choose to associate are incredibly emotional. An assessment about you is typically made within the first 3-5 minutes of an interview. Think of the power your brand brings into that interview. They probably already like you based on the connection they feel - which is based on who they believe you to already be. Set the expectation.

Choice – The candidate gets to choose where he wants to go rather than accepting whatever is offered. What is different and unique about what you’ve done in your finance career that will position you from a place of power rather than commodity, and shift the paradigm to choice … yours?