The Financial Planning & Analysis (FP&A) world continues to transform from what I like to call Financial Planning & Reporting (FP&R)—an emphasis on reporting—whereas FP&A emphasizes analysis. The old days of being a former accountant who crunches numbers no longer cuts it. With how quickly things change in today’s world just looking back at explaining what happened is not enough.
A recent survey CFO.University conducted with nearly 200 global finance leaders indicated 58% estimated time savings of one hour or more each day by working from home. Another 20% claimed savings between 31-60 minutes. The vast majority of the remaining 22% were back in the office full time.
Many leaders — even those deeply committed to the growth of others — find themselves cringing as the annual individual development planning (IDP) season approaches. And they’re not alone. Employees frequently feel a similar sense of dread as they prepare to sit down and plot out their goals, learning, and advancement trajectory yet again. With employee retention a top priority for many organizations, the time is now to shift our thinking about development.
“One-size-fits-all” really only works…when it “fits”. Tailoring is required when buying a suit or developing your business controls. Right-sizing your controls will protect your organization.
Developing control activities for your business is no different. If they aren’t right-sized, you will be too vulnerable or too restricted to successfully grow your business.
Saleem describes the six mindsets he believes are most useful for corporate success in this 7 minute video.
