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There are lots of things to consider when determining your team structure. These will have a key impact on the overall effectiveness of your finance function.

The following diagram provides a summary of several key items to determine up-front:

Each of these factors will evolve over time in line with the level of growth and complexity within your business.

There will also be multiple other considerations such as the evolution of your finance function, changes to your key objectives and your required outputs.

Finance leaders will need to regularly assess the appropriateness of your team structure and existing skills to ensure that it delivers against your company’s needs.

In most instances, team members will change roles over time due to internal promotions, new external hires and company leavers. These staff movements provide a fantastic opportunity to review your existing structure. However, you need to carefully plan successors across each role to ensure that you do not suddenly become exposed to lots of urgent and important tasks that nobody is able to complete.