Essex Leadership Forum
Under half of the clients that attended last weeks Hays Senior Finance Leadership forum in Chelmsford said they had ‘ever worked with a great leader’.
In the first forum of its kind in Essex, over thirty local finance professionals came together to discuss the concept of leadership, hoping to increase their knowledge on what has been a well-publicised topic of late and come closer to finding out how other finance professionals are tackling leadership roles.
Sarah Jones, Director of Finance at Carpetright UK highlighted the common problem for those in leadership roles: ‘Often a manager can assume a leadership role simply because their job places them at the top of an organisation structure, however, managers are often appointed because of their competence at their core job and not because they have demonstrated management ability. Simply giving someone technical line authority does not mean that they will be able to manage effectively, never mind lead.’
Having recently led her own team through some major transformations Sarah went on to explain that she divided the task into three key interlinked areas – people, processes and technology. ‘My first action was to restructure the department. Poor performers left the business and we placed emphasis on finding high quality replacements. Getting the Finance Managers in the right place was key, and the backbone of that project was the management development course we undertook.’
The prevalent theme of leadership in finance comes from the recognition that more and more frequently the skills that make a good accountant are not just mathematical. Businesses are beginning to understand that these accountants are future leaders that will one day have to be able to advise on the numbers and lead from the front not just “knowing” the numbers but also knowing what to do with them. It can become a fundamental problem if those in leadership roles are unable to effectively lead the business in the way required.
Finance leaders need to develop their long term plans with strategic thinking that will not only involve exerting their influence on the leadership of their team but also identifying those who will succeed them. As a recruitment specialist, Hays Senior Finance is trying to raise awareness of this issue and assist its clients in planning for the future.
Paul Taylor, Member of the Society of Turnaround Professionals gave an expert presentation on business turnarounds and how leadership must go hand in hand with financial control and the culture of discipline. He gave an analysis of a company he had worked with wherein the financial leadership had collapsed and the business had experienced huge losses as a result: ‘a finance director working twelve hours a day on his PC on spreadsheets is going to be cut off from the finance team. He will not be judging numbers, but merely fudging numbers.’
Simon Drew, Finance Director at Plus One, also spoke at the forum: ‘Having the ability to meet fellow finance leaders in a relaxed informal environment over some lunch brings many advantages, not only networking generally but also to share some of the issues that face business’s generally in the area.’
Chris Gulliver Director at Leadershape (a coaching and mentoring business aimed at developing the Leadership Capability of both individuals and groups) pointed out that leadership begins from the moment you walk in the door each morning. ‘As a leader your every movement is remembered and recorded. From the way you hang your coat up to how early/late you arrive. From the way you speak to people on the phone to the way you dress each day. Leaders’ actions are emulated without their realisation. It is no good putting a good personal development plan for your team in process if you then do not demonstrate the same hunger, drive and professionalism that you expect from them.’
Financial Director at Hays Plc, Paul Venables also believes that there are many key skills to becoming a good leader: ‘Any leader worth his or her salt must ask the question, ‘What are my three biggest priorities at this moment in time?’ Focus on fixing them, or else you run the risk of getting bogged down in the hundreds of other issues you need to work on. You need to give clear direction, think strategically, relate and communicate with people. To be an effective FD, make sure you surround yourself with high quality people. People that have the same energy and desire you have. Interpersonal skills are essential – you’re born with 70% of them. You can’t teach personality.’
The structures of the forum ensured that guests had time to network and enjoy a buffet lunch before listening to the designated speakers. A question and answer session following the speakers allowed guests to elaborate on issues at more length, and raise concerns and suggestions of their own.
Karen Young, Regional Director of Hays Senior Finance believes that the forum will provide not only excellent networking opportunities for everyone involved, but also an educational outlet enabling professionals to relate their personal experiences and lessons learned:
‘I think everyone has their own ideas on what makes good leadership. Accommodating a range of professionals across Essex and East Anglia to openly debate their opinions on leadership or any relevant issue resulted in fresh and interesting discussion that proved in an invaluable experience for anyone in attendance.’
Paul Cox, CFO at the East London Bus Group, the largest independent bus operator in the country, commented on the rarity of finance directors getting the opportunity to network with their peers: ‘These days it seems that finance directors only truly have the chance to network with their peers something like once every seven years! On a local level the Hays Senior Finance Team has facilitated a great opportunity to do just this.’
For more information about Hays Senior Finance, go to our senior finance jobs and qualified accountant jobs section.
Notes to Editor
Hays Senior Finance has been developed from Hays’s established Accountancy & Financebusiness to provide a specialist service for qualified accountants and recruiters. Hays has a national network of experienced Senior Finance consultants. Hays Senior Finance recruits qualifieds accountants across commerce and industry, financial services, practice firms, public services and not for profit organisations at all levels, up to finance directors and partners in practice firms.
Hays Senior Finance team is a subdivision of Hays Plc, the FTSE 250 Company which employs 7,753 staff operating from 376 offices in 25 countries across 17 specialisms. Hays Plc placed circa 68,000 candidates into permanent jobs and paid circa 46,000 temporary workers weekly during the year ending 30 June 07.
For further press information please contact:
Sarah Swailes
PR Executive
Hays Senior Finance
T: 020 7222 8575
E: sarah.swailes@hays.com
