By Rob Starr, Big4.com Content Manager.
Deloitte CFO Programs have delivered over 1,000 CFO Transition Lab™ sessions in more than 25 countries and Michael Aronesty, CFO Transition Lab Leader, CFO Program, Deloitte & Touche, LLP, supplied Big4.com with an email primer on how they manage aspects of the transition newly appointed CFOs undertake. The labs are built on “Taking the reins: Managing CFO transitions,” a research paper which drew on interviews with over 20 CFOs of companies with nearly $170 billion in combined revenues.
What are the Deloitte CFO Transition Labs?
Deloitte CFO Transition Labs are one-day experiences based on our extensive research on CFO transitions. The agenda focuses on the three most important resources CFOs must manage during their transitions: personal and organizational time management, talent in the finance organization, and critical stakeholder relations. Our CFO Transition Lab is a one-day experience based on our extensive research on CFO transitions. The agenda focuses on the three most important resources CFOs must manage during their transitions: personal and organizational time management, talent in the finance organization, and critical stakeholder relations.
Who are they designed for?
As we tailor our CFO Transition Labs to the individual CFO, they can be designed for a CFO experiencing any type of transition, whether that is a CFO who is new to the role, or if the company is going through a significant transition (i.e. merger, IPO, etc.)
What are they designed to accomplish?
They are designed to focus on the three most critical resources to CFOs during their transitions – time, talent and relationships — by defining and communicating priorities, assessing and developing a talent strategy, understanding and influencing specific stakeholders, and framing
tangible actions to execute priorities.
How do they work?
A Deloitte team of professionals customizes an individual CFO Transition Lab over a four- to six-week preparation process. During the Lab day, the Deloitte team guides the CFO through a series of globally-proven modules to uncover insights and make an efficient and effective transition.
What successes have they had so far?
One sign of success has been requests from CFOs to experience the CFO Transition Lab multiple times during their career. CFOs often approach us for the opportunity after receiving a peer recommendation from past participants. Board and Audit Committee members have also requested that their new CFOs take advantage of the Lab.
What’s in the future?
We are increasing the delivery capacity of our offering by scaling our U.S. and global footprint to assist more CFOs than ever before in this pivotal moment of their career and advising them on executing their 180-day action plan.