CFO Careers | CFO Coach

The Stealth CFO Job Search

February 7, 2018 by Cindy Kraft, the CFO-Coach

This is a pretty good article from FM-Magazine on seeking a new opportunity while you are gainfully employed. While it is not always easy to do, executing good passive strategies is certainly the most beneficial approach for any CFO candidate.

You know this. I know you know this. It is both sad and true.

Oftentimes, there is a stigma and a bias
against the unemployed.

Nothing has really changed – except location. All your skills, all your contributions, all your accomplishments, and your stellar career climb – you still own them. The difference, and a big one, is where you are standing … outside the company door rather than inside your office. Because you have the best positioning and the most power as a passive candidate, it behooves every executive to keep in mind Matt Bud’s (Financial Executives Networking Group) daily mantra: You are only ever between searches. Unless, of course, you are getting ready to retire.

With the above in mind, I want to add my 2 cents to the article …

Linkedin

Yes, in this age of social media, a Linkedin profile is the expectation. But a placeholder won’t suffice. Not if you really want to compete against, and more importantly, stand out from, your competition. It requires a robust, compelling, and value-oriented profile that leverages the Linkedin algorithm and creates interest.

If your profile is not complete (according to Linkedin’s definition), you will not come up at the top of recruiter searches. Your goal is compelling and complete … and that includes giving and getting recommendations as well as joining groups.

Networking

It’s a must. Social media is great, but the real value of social media for Chief Financial Officers and other executives is building visibility among a targeted audience. Job search – passive and active – requires face-to-face networking.

And yes, the very best time to build your network is while you are gainfully employed and between searches.

Let me know if I can help you structure and execute your passive job search plan!

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Cindy Kraft is the CFO-Coach and America’s leading Career & Personal Brand Strategist for Corporate Finance Executives helping clients understand their marketability, articulate their value, and position themselves as the clear and compelling choice. She is a Certified Reach Personal Brand Strategist, Certified Reach Online Identity Strategist, Certified Career Management Coach, Certified Professional Resume Writer, and Job & Career Transition Coach. Cindy can be reached via email Cindy@CFO-Coach.com, by phone 813-727-3037, or through her website at www.CFO-Coach.com.

When Seeking a CFO Position …

January 31, 2018 by Cindy Kraft, the CFO-Coach

… it isn’t necessarily over when you think it seems to be over.

What I mean is that there a couple of factors at play that, despite not being selected initially for a job you want, could mean the position may come into play again in the near future.

Take for example, the story about Louisville University being forced to restart its CFO search. One week before he was supposed to begin, the newly-named CFO decided not to take the job. A strong runner-up candidate, who took the extra steps to stay on the search team’s radar while reiterating his interest in the position, could be the obvious choice following a less than positive – not to mention expensive – hiring decision by the company.

The other factor is the incredibly high executive fail rate within 18 months of hire. Depending on who is doing the survey, that statistic is anywhere from 40% to 70%, with 5% failing spectacularly. While those stats can be mind numbing and frightening, the flip side is that they also present a second potential opportunity for a position with a company that is (or was) on your “crème de la crème” list. But, it requires nurturing those relationships with key decision-makers within that company so you are top of mind if/when things with its new CFO hire begin to spiral.

And finally, your position – unless it is your last before retirement – really only means you are currently not in active job search mode. In a perfect world and with good career management habits solidly in place, it would also mean that you are, always, in passive job search mode as you anticipate a smooth transition into your next dream position. Passive job search mode means you are executing two key strategies constantly and consistently … fostering a network (as opposed to growing a rolodex) and building your visibility among your targeted companies. Being pursued for your next opportunity puts you in a much greater position of power when it comes time to negotiate your compensation package.

It is the last day of January … how is your job search going?

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The CPA and Other Finance Credentials

January 3, 2018 by Cindy Kraft, the CFO-Coach

Does a CPA matter? What about a CMA? Or, the relatively new CCFO? Do any of them make you a better Finance Chief? That … is the age-old question and continuing debate. New year … same debate. See my 2010 and 2012 blog posts.

On one side of the table are the companies and CFOs who hold credentials. On the other side, are the companies and non-credentialed CFOs. I think the difference today centers on the evolving role of the Chief Financial Officer. With the continuing CFO sprawl (the Chief Financial Officer becoming the Chief Everything Officer or the Chief the-Buck-Stops-Here Officer) and being a strategic leader who sits at the executive table with deep involvement in all aspects of operations … does holding a CPA matter as much?

Having worked exclusively with finance leaders for almost 10 years, I have my own thoughts. And although they are unlikely to influence one side or the other, this seems to be the bottom-line …

What matters most is what your target audience believes they need and therefore wants.

If you are looking to make a move in the upcoming year, it is critically important to identify your target audience. If you don’t have a CPA but you are targeting companies who all “require” a CPA candidate, it is going to be a longer-than-usual, even more frustrating search. It is possible, some of my clients have breached that requirement, but it requires having such compelling problem-solving value that a company is willing to look past their own requirement.

At the risk of being redundant …

— Leverage your branded, problem-solving value.

— Identify who needs what you bring to the table.

— Play in that space.

— Build & nurture a strong network.

It is a new year, and I wish you all the best. If I can help you achieve your career goals in 2018, give me a call. I would be happy to help.

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4 Effective Career Management Strategies for 2018

December 21, 2017 by Cindy Kraft, the CFO-Coach

Have you noticed that the older you get, the faster the years seem to fly by? I sure have! We are sitting on the cusp of yet another new year, and it has never been more important to take control of your career. If you are a CFO who is anticipating a move in the next year or so, here are four strategies to help ensure that you achieve your goal.

Update Your Resume

Yes … it’s painful.
No … it isn’t fun.
Yes … it takes time and effort.

But when a recruiter calls you because he thinks you are a viable candidate, you are in a position to forward him a resume when he asks. Otherwise, you run the risk of sending him something outdated or rushed and incomplete … both at the risk of losing a potentially great opportunity.

Update Linkedin and Leverage Its Power

Linkedin is a tremendous passive strategy for current and future jobseekers, but especially for future jobseekers. There is nothing so appealing to a recruiter than the opportunity to lure away a passive candidate into a new position.

For active jobseekers, it is a passive strategy that works 24/7 in concert with your proactive strategy … enticing recruiters and prospective companies who need the skills you have and are willing to pay, and pay well to get them, to look at your profile.

To believe Linkedin is a non-player in the job search process is to risk missing opportunities you may never otherwise discover.

Network with Intentionality

A common response by my Finance Chiefs to the question, how is your network, is either …

– I don’t have a solid network, or

– I have been so busy working my job that I have not had time to build a network.

Resolve that this will be the year that you commit to building and nurturing your network. It will pay huge rewards when you are ready to make a move.

Raise Your Branded Visibility

This strategy ties into the other three, because without branded positioning there really is no reason to be visible. If you aren’t visible, it is very difficult for the recruiters and companies to find you rather than discover your very visible competition. If recruiters and companies aren’t finding you, you may be missing out on dream opportunities.

Execute the first three strategies, and then work consistently and constantly (whatever that looks like in your busy schedule) to ensure that the people who need to know about you do, in fact, know about you!

Call me if I can help! Please note my NEW phone number … 813-727-3037.

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3 Reasons NOT to use Resume Templates

November 19, 2017 by Cindy Kraft, the CFO-Coach

Last week I saw comments by the CEO of Linkedin about the evolution of resumes. He is right that resumes are changing. Actually, they have been changing for a good 10 or so years with a clear focus on the ability to solve problems and deliver impacts rather than duties held and responsibilities performed. But …

A few days later, I saw that Linkedin and Microsoft have joined forces for a new Linkedin feature called “Resume Assistant.” DING DING DING! Perhaps Linkedin’s CEO had a bit of an agenda in mind when he made his resume comments.

Despite the fact that I hate resume templates, that is the first of my 3 reasons I would advise my CFO clients not to use this feature.

I hate resume templates

And most recruiters can spot them a mile away. All a resume template does is make you blend in rather than stand out from the competition. In this competitive job market, it is imperative to differentiate yourself from other candidates. What is different about how you, as a Finance Leader, solve problems and deliver impacts speaks directly to the challenge a company faces in hiring for culture fit.

Additionally, most templates do not allow you to use strategy to drive format. Rather, the templates are often format driven relegating strategy to second place.

Passive candidates are in high demand

When your resume is posted, the message – intentional or not – is that you are in active job search mode. Even if you are, advertising that can dilute your negotiating power. The perception is that something seemingly unattainable or hard to get is much more prized, valued, and desired.

My #1 reason for advising you to NOT use this template is …

If your resume is front and center on Linkedin (or any other public job board for that matter), there is no reason for a recruiter to pick up the phone, discuss his job requisition and search, give you an opportunity to articulate your value message, and ask for your resume. If you give them your resume upfront, the conversation may never take place. As a candidate, you want that conversation!

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The Challenging C-Level Job Search

November 16, 2017 by Cindy Kraft, the CFO-Coach

It can take 9-12 months to find that next right-fitting position … are never words my prospective Finance Executive clients want to hear. However, setting up realistic expectations ultimately translates to less frustration and impatience during what can be a very long and challenging journey.

Recently I participated in a conversation on Facebook that spoke directly to this issue. The original post noted that on average, it takes 42-70 days to fill a job vacancy. That comment quickly turned to the length of a C-level search.

This conversation again points to the wisdom of starting an executive job search well in advance of wanting or needing a new position. In fact, recognizing that being employed only means you are between searches is the key to executing good career management habits and facilitating smoother transitions.

Whether your search takes 4 months, 6 months, or 12+ months, there are a few things you can be doing while you are still gainfully and happily employed and thinking about your next career step.

Remember that finding the right fit takes time.

Attracting recruiters and companies who need what you bring to the table and are willing to pay, and pay well, to get it takes intentionality … and time. If you are considering making a move within the next 12-18 months, it is not too early to begin the process.

The pursued has the most power.

When you are being pursued (vs. doing the pursing), you occupy the power position in compensation negotiations. Make sure your marketable value message is compelling and visible to the companies and recruiters who need to know about your career contributions and impacts so they can find you when they need a CFO with your talent.

Balance is key!

The best Chief Financial Officer positions are rarely found on public job boards. Executing a balanced search plan that includes a strong network, visibility among your target market and recruiters, and a proactive campaign aimed at companies on your hit list will garner much better results than a search plan that consists primarily of forwarding your resume to blind ads.

When you have the luxury of time, you can afford to wait for that right-fitting opportunity rather than make a choice out of desperation that may or may not be the right fit.

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Rejection and the Job Search Process

October 23, 2017 by Cindy Kraft, the CFO-Coach

Nine years ago I wrote an article about the train wreck known as the job search process. Not much has changed since then. In fact, last week a Director of Recruiting & Training, who just happens to be in the midst of her own job search, posted on Linkedin about the various ways candidates can be rejected. Beyond being a horror story, it is an eye-opening and sobering read, and at the time of this posting there were probably 10 or so “named” ways of being rejected as a candidate.

Here are two of my thoughts on the interviewing part of the job search process.

Rejection Just Might be the Hardest Part of the Job Search

It seems like it should be so easy … find a posted position that fits your skills perfectly, send off your resume, and wait – and wait – and wait. More often than not, what you hear is silence. On a good day, you might get a canned thanks, but no thanks response.

The same thing can happen in the interview process. You walk away thinking you nailed it or the recruiter sounds all hot-to-trot to present you, and again – rejection is the frequent response.

Job searching and interviewing are not for the faint-of-heart. It is a tough journey, it can take several attempts to get to yes, and even the most confident CFO can take a beating while getting to that yes. Like in sales, rejection is part of the process. It is just not the fun part. It is the reason I evangelize the premise of looking for your next position while you are still gainfully, and perhaps even happily, employed. The effect of rejection is exacerbated when you are unemployed.

The fact remains, however, that many Finance Leaders ARE unemployed and looking for that next opportunity. Many of my CFO clients over the years have verbalized their frustration at the unprofessional and discourteous way post-interview interactions, or lack thereof, are handled. It is completely understandable … because it is a broken process that favors the company and not the candidate.

It’s Not Over Until You Are Gainfully Employed …

Don’t let up, even a little bit, on your job search activities until you have a signed, sealed, and delivered employment agreement AND you are actually in the first day of your new job. Derailment can happen anytime through this process; meaning, it is not a done deal until the deal is finished. Walking away from an interview you believe you nailed and thinking you can now coast can prove to be a grave mistake.

It isn’t over until the first day you are gainfully employed. Even then, don’t stop all your networking activities. You may just need those contacts again in the future.

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3 Keys for Navigating the Job Search Maze

October 16, 2017 by Cindy Kraft, the CFO-Coach

Have you ever been, or even felt, utterly lost?

A few years ago, 2011 to be exact, I was headed to Phil Campbell, Alabama to help following the E5 tornado that devastated that town. Having never been there before and being incredibly directionally challenged, I was completely dependent on my GPS to get me there. Unbeknownst to me AND apparently my GPS, I was following the path the tornado took and several of the roads I needed to travel were blocked by downed trees. I was horribly lost. A gas tank that seemed to be leaking fuel only enhanced my feelings of panic. I was alone and I was lost and I was panicked – not a good combination when faced with trying to resolve a perceived threatening situation.

I know, because my CFOs tell me, that sometimes the job search can evoke the same sorts of feelings. Maybe not all three and maybe not to the extreme, but especially men who hold the breadwinner perspective and have families to support can and do struggle when it comes to participating in the ugly and confusing world of job searching that is often full of either rejection or silence.

Here are 3 keys for combating those negative feelings should any of them rear their ugly heads.

Alone

Navigating the job search maze alone can be overwhelming, especially when there is no objective voice bringing balance to a challenging journey. Even a supportive spouse or family member, when faced with a longer-than-anticipated search, can begin to doubt the wisdom of searching.

The truth is, especially at the C-level, the search is almost always longer than it could/should be. There are only so many Chief Financial Officer positions and companies are terrified of making a costly wrong hire.

Be sure your support system is solidly in place for the long haul.

Lost

How to actually conduct an effective job search is often a mystery to my Finance Executives. They have spent years immersed in doing their jobs with great loyalty to the companies and teams they have helped lead, so when it comes to identifying their next opportunity, they can be at a loss.

At the senior level, the job board black hole is not your friend. Despite how easy the boards seem, the posted position game is neither easy nor particularly effective.

Navigating the job search maze requires a balanced plan that is both proactive and passive … networking and creating visibility among your target audience.

Panicked

My panic was born of having a plan that did not allow for contingencies. A paper map, while maybe not being extremely helpful, would have helped me get my bearings.

Panic (or worry or fear or anxiety) can set in when we don’t have a plan, or a plan that is flexible. If your sole strategy is playing the posted position game or posting something like this on Linkedin …

“looking for my next meaningful CFO role”

… something akin to panic is a likely outcome when weeks turn into months and you find yourself lost in the silence that is too often a big part of the job search process.

Create a balanced, flexible plan that plays to the things you do well and will commit to doing, and then execute that plan consistently and constantly … and start well in advance of when you would like to make a move.

I did, finally, get to Phil Campbell, and it was an experience I am not likely to ever forget! Sometimes the best thing we can say about a difficult journey is … there is often great room for growth in the midst of it.

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If Only Finding Your Next CFO Position was This Easy!

October 3, 2017 by Cindy Kraft, the CFO-Coach

I just saw another CFO organization jump into the “job board” postings game. If only finding your next Chief Finance role could be that easy. See a posting, send off your resume, get the job. Except, it’s not that easy and it rarely works well for the candidate. The truth is, job searching requires hard work and effort … and finding that next right opportunity often takes longer than anyone anticipates.

Please don’t misunderstand. I am not dead set against job postings, although I can’t say I am in favor of them either. The important thing is to keep the job board strategy in proper perspective. Since only about 10% of positions are posted – and most of those are NOT the top-quality positions a CFO is usually seeking – that means only about 10% of your overall job search time should be spent playing the job posting game. It seems like an easy way to find a job. It isn’t. Maybe attaching and sending off your resume is easy, but usually it is not fruitful because thousands of other candidates think it is easy, too.

If you really want to move into that next, right-fitting opportunity, avoid the posted position trap as the sole strategy for finding it. Know your value, practice articulating it clearly and succinctly in a manner that begs follow-up questions, and build and nurture a vibrant network. Those activities will yield far better results than sending off your resume to a job posting.

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Are We Losing the Ability to Right Write?

September 26, 2017September 26, 2017 by Cindy Kraft, the CFO-Coach

Yes, I did that intentionally, and it was incredibly painful to do so. But the question remains … are we? Which begs another question … does it matter?

Many years ago, a 5^th grade English teacher told me that she instructed her class to write an essay. Half the class turned in a “text” version (u r c-ing an xample rite here). She also told me that outside of spelling class, incorrectly spelled words did not matter. I remember being completely shocked at the time, but I am even more shocked as I see what passes for “English” on social media.

I can almost – almost – look the other way on Facebook. Almost. As someone who makes a living writing, it is very challenging. However, seeing the complete inability to use proper grammar, spelling, and sentence structure on Linkedin, a professional network and the digital home for many executives, is distressing and worrisome.

A week or so ago, I saw a comment by a CEO of a small company. Perhaps this person was educated in a school where text talk in essay writing was okay and spelling did not matter. I took a snapshot of the comment, but cannot bear to post the graphic. Suffice it to say, there was no punctuation, not even periods to end sentences, and therefore, no initial caps to begin new sentences. It was 8 lines of text containing, I think, 5 sentences – but I cannot be sure. This from a person with a title of Chief Executive Officer.

Now, the CFOs with whom I deal are typically 45+ and, like me for the most part, hold the belief that the English rules of punctuation, grammar, and spelling apply, even if we don’t always get the latter correct. And I believe that those in positions to hire C-suite executives care, at least for now, about their executive team’s ability to write coherently, logically, and legibly.

I would caution people that everything on social media that is posted by you can be found by others, and that your digital footprint has the ability to make or break your candidacy for certain positions. If you cannot, or chose not to, write a legible post or comment on Linkedin, why ever might one believe you could or would be able to do so in a senior leadership role where communication skills are so vitally important?

So I am curious what you think … does it matter in this day and age whether or not we can write right?

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