high-value target

Superstar Executives

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An interesting article by John Hollon on ERE inspired my SmartBrief for CFOs poll last week on the quality of the last hire. The results of the poll … once again … triggered more questions on my end since of those polled, only 27% indicated their last hire was a superstar while almost 50% indicated their last hire was either safe or forgettable.

So I wonder, why make a mediocre hire instead of a superstar hire when the cost of recruiting that person is the same either way. The salary of a superstar shouldn’t cost more since he should be able to save or make a company more than the cost of his salary. 

Then I saw this article posted on Newsweek this morning with a subtitle that reads … “Despite record unemployment, recruiters are desperate for top talent.” 

Perhaps that answers at least one of my questions. Ho hum hires are made because the superstars can’t be found.  Which begs the question … “why” can’t they be found?

— Top talent doesn’t exist. 

— The message of superstar executives is not compelling, isn’t resonating with its target audience, or is completely mute.

— Recruiters aren’t looking for “unemployed” executives. It’s a sad reality and I’ve blogged about this many times. The moment you walk out the door on Friday afternoon with a big fat severance package in your pocket, you also wear the black mark of unemployment. Your marketability takes a hit despite the fact that your skill set and contributions remain the same.

Are you a superstar and are recruiters finding you? If so, you’re apparently in the minority and definitely a high-value target.

What Are You Contributing to the Conversation?

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Nothing? Noise? Value? 

There’s a global conversation happening and you can either choose to be a part of it or refuse to engage. If the choice is to not participate, you do so at your own peril … because the conversation will go on without you.

If you do engage, what are you contributing? Is it something of value that benefits your target audience? Or, is it self-indulgent noise that detracts from your executive brand? What you say, how you say, and how often you participate … does matter.

Blank slate … In the evolving Web 2.0 world, this finance executive might show up but he contributes nothing to the conversation. Either he is too busy, is networking-challenged, or perhaps sees no value in engaging. If he shows up, his Linked In profile is bereft of any details that would position him as a high-value candidate. At best, this executive is a place holder. At worst, he may be spiraling towards extinction.

Branding nightmare … It’s all about me. It’s the other guy’s fault. That company discriminates. That recruiter isn’t listening. Noise … and it sends the wrong message. Since authenticity is key in creating a branded, visible presence … you ARE sending a message with every post whether you realize it or not.

Differentiation … What are you reading? What conferences or seminars are you attending? Are you presenting or serving on a panel discussion? What resources have you found? Are you in a leadership position with an organization such as FEI? What are you curious about from a professional perspective? Social media is about sharing, not selling. Finance executives who embrace this mentality create visible distinction for themselves as subject matter experts and high-value targets.

Do you show up and if so, what are you contributing to the conversation?

To CPA … or Not?

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It’s tough love time. 

A coaching session with one of my clients around what skill sets he might need as he moves towards his dream of being a CFO got me thinking about the old “to CPA or not” dilemma some Chief Financial Officers (and wannabes) face.  Some companies require it; some companies prefer it; and other companies don’t care. If a company falls into the first category, it’s unlikely a candidate addressing the unfairness of that requirement will change anyone’s mind. 

Here’s the thing. It’s not about you.

If you’re car shopping and what you really want is a sleek Jaguar with all the bells and whistles (my personal dream); but the car salesman says, you know, what I think would work better for you is this model right out of the Flintstones era complete with manual steering and running shoes to protect your feet … would you buy? I’m guessing the answer is no. 

Now I’m not at all implying there is that big of a gap between a CPA and a non-CPA … and no offense is intended. I’m exaggerating to make this point. You know what you want and it’s unlikely you’re going to plop your bag of money down to buy what the salesman wants to sell you rather than what you want to buy.

That means, you have two viable options …

–Get a CPA. An operational CFO with both a CPA and an MBA is a very high-value target. If you’re goal is to play in the public company space, it might make sense to get the credential.

–Get visible to your target market. If you don’t have a CPA and have no desire to get one, that’s fine. There are still plenty of opportunities available to you, too. And to the right audience, you are still a high-value target. Stop spending time targeting companies who require a CPA and get focused on who needs what you have and is willing to plop down a bag of cash to get it.

While complaining about the unfairness of the requirement is certainly an option, it’s unlikely to change anything. A much better strategy is to play from your strengths to the right audience.

FBSoP is NOT a Good Career Strategy

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A gentleman who requested my article, “5 Easy Ways to Beef Up Your Linked In Profile,” wrote to let me know that he appreciated the recommendations in the article. 

But …

He also went on to say that although he knew he should be spending time completing his Linked In profile and cultivating his digital footprint, he was a busy man with a family and already struggling to balance his time. For now, for today, it is just not the most important thing in his life.

Isn’t that true for most of us? So much to do, so little time. I think it’s especially true when we hold a high value of family. And since that is one of my values, I understand and respect the desire to make time with family a priority.

That said, the only one who is vested in your career is you. Your career, which brings home the paycheck, is what allows you to care and provide for the family you value. 

So if you take nothing else away from anything else I ever write or have written, please understand this. If you get into the habit of spending 15 minutes a day proactively working on your career … while you are still gainfully employed … it will go a long way towards ensuring you will not be sitting on the curb desperately wondering how you are going to provide for the family you value.

You are finance leaders who create and execute the 3 to 5-year financial plans that navigate your company to the next level. Now, more than ever before, it is important to create and execute a career survival plan that identifies where you want to go, what you need to have in place to get there, and when you want to make that next move. A fly-by-the-seat-of-your-pants (FBSoP) strategy isn’t good enough for your company, and it makes no sense to relegate your career to that strategy either. Not today. And not if you want to be perceived as a high-value target.