Your Plan B should really be your Plan A!

Our economy is in a state of volatility, the likes of which most of us have never experienced. Unprecedented debt, a massive federal government, and high unemployment … and that’s just for starters.

The tendency might be for Senior Finance Leaders to be thankful they’ve got a job and hunker down. And while that might not be a bad idea, please don’t even consider hunkering unless you are fully prepared for the unexpected … the loss of your position.

Caution: This is NOT the time to rest on the illusion of corporate loyalty.

The best time to find your next position is while you are gainfully and happily employed. Leverage that power. If you received a call from a recruiter tomorrow for the opportunity of a lifetime, could you hang up the phone and send off a current resume?

Since Chief Financial Officers have the pulse of the numbers like no one else in the company, they can see the writing on the wall long before it’s visible to anyone else. At that point, though, it might be too late to take advantage of a 9-to-12-month lead time for finding that next opportunity.

If you wouldn’t run your company without a backup plan that you can seamlessly move to in the event of an unforeseen emergency, don’t run your career without one either.

If, for whatever reason, your CFO position was eliminated tomorrow, are you okay because you’ve been consistently working your career plan? Or, would you be caught unprepared … with no plan, no network, no visibility, and no marketing documents at the ready?

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2 thoughts on “Your Plan B should really be your Plan A!”

  1. Cindy,

    I have met 2 types of CFOs in this situation. Those that know it’s coming (but not sure when), and those that don’t.

    Those that know it’s coming start working their network. Many of these CFOs don’t have a proper plan, but begin to work their network (which is better than doing nothing). If they were properly prepared, they would be in a better situation once the hammer falls.

    Those that don’t know it’s coming, and don’t prepare for it are in a tough situation. I truly feel for these individuals when I meet with them, because they are have a lot of work to do.

    A CFO needs to manage their career proactively. You’ve hit the nail on the head Cindy.

    Samuel Dergel, CPA, CA, CPC
    Dergel CFO Search & Consulting

  2. Thanks Samuel. Great points as usual.

    The best mindset is to ALWAYS be doing the kinds of things that attract opportunities your way. Being able to say “no thanks” trumps never getting the opportunity to say yes!


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