"Clarity is magnetic." It was part of a bigger lesson that people value integrity, but they actually follow clarity. Clarity in vision combined with a good vision has a potential to build incredible followership.

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20.3k views11 Upvotes67 Comments

CFOs and finance leaders, what do you think is the most important skill you should be focused on personally in order to avoid turnover on your team?

Personal Development Culture & Values Finance+1 more

Eric PhillipsHead of Finance in Finance (non-banking)2 months ago

Creating a motivating and learning environment with communication as a key element.

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609 views4 Comments

What should be ideal size of a finance function? what are the different measures we can employee to assess its efficiency

Eric PhillipsHead of Finance in Finance (non-banking)3 months ago

I think it's very difficult to answer the question as there are so many potential variables. However, I'd consider a few methods:

1) If possible, get some competitive information within your industry and company size. ...read more

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218 views2 Comments

Is executive compensation too high today? What metrics should be used to determine C-level pay, beyond financial performance?

Culture & Values Team & Organizational Design Internal CXO Relationships+1 more

Eric PhillipsHead of Finance in Finance (non-banking)3 months ago

OG Anunoby just signed a 5 year $212M contract with the Knicks. Was that too high? In some ways, yes, that is a ton of money to play a game. However, there is high demand and low supply of people with his skill set so that's ...read more

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1.8k views3 Upvotes3 Comments

If someone wanted to become a corporate controller, what skills would you tell them to master (besides being the best accountant they can be)?

Finance Financial Management Personal Development+1 more

Eric PhillipsHead of Finance in Finance (non-banking)3 months ago

By far the best skill for upper level accounting roles is communication. You will not only need to make the right accounting decisions but explain them to auditors, executives and potentially regulators. The ability to communicate ...read more

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594 views5 Comments

Finding direct spend to cut costs is relatively easy, but what about indirect spend? How does your FP&A team find creative ways to cut costs? What do you think most companies overlook?

Finance Financial Management

Eric PhillipsHead of Finance in Finance (non-banking)3 months ago

FP&A can help determine some obvious cost savings but to go deeper you need the buy in of the business. The day to day expert will see things you will never see but you have to encourage them to execute. I'd suggest the following:

1) ...read more

185 views1 Comment

We are embarking on our Finance Transformation journey. Looking to make a quick, strong impact while we worker on longer term project of switching or re-structuring ERP. From a bigger impact / shorter implementation technology change which would you choose to implement first based on your experience: Financial close & consolidation software to help automate a very manual close process or Financial Planning & Reporting software to improve budgeting, forecasting, and reporting to business partners to support the business?

Eric PhillipsHead of Finance in Finance (non-banking)2 months ago

I would choose Financial Planning and Reporting software as it would positively impact more people. If implemented well, your leaders should be able to make better decisions while also being able to self serve in some instances. ...read more

504 views1 Upvote1 Comment

Gen Z is entering the workforce and many companies need to hire them. Would you consider student loan repayment assistance in addition to competitive compensation to help lure Gen Z to your organization? If not, what are you doing to hire and retain them?

Talent Sourcing & Hiring Employee Engagement Customer Engagement

Eric PhillipsHead of Finance in Finance (non-banking)4 months ago

This is a great question. The short answer is yes.

As part of the overall compensation package, I would explore a student loan allowance. Of course, it would have to come with safeguards, and would need to be considered ...read more

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10k views7 Upvotes17 Comments

Who owns the Travel and Entertainment policy in your organisation? Finance? Procurement? HR? Other? It is something that has elements of all of these....

Eric PhillipsHead of Finance in Finance (non-banking)4 months ago

Finance, HR and Corporate Security all own pieces of the policy. The policy is reviewed and yearly with all three groups.

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559 views1 Upvote7 Comments

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