Team priorities when taking over a finance function
Taking over the leadership of a finance function has the potential to significantly motivate your team. It provides you with a fantastic opportunity to scrutinise everybody’s roles, responsibilities and activities to improve their overall output. However, it also carries the risk of unsettling team members and creating resistance to change.
During this video extract from a GrowCFO workshop, experienced CFO Baz Bedrossian shares his priorities when taking over a finance team:
Baz recommends prioritising the following areas with regards to your finance team:
- Get to know the team
- Work out what motivates people
- Determine what incentivises your team other than money
- Get the right team in place
- Make sure that everybody is doing the right roles
It is essential that you allocate significant time early on when taking over a finance function towards properly understanding your team members and ensuring that everybody is doing the right roles.