Professional development is what will set you apart from other financial executives. As a senior finance leader, working with a coach is a way of investing in yourself and your company. At FD Capital, we work with financial executives at every stage of their careers. We’ve seen first-hand the difference that coaching for senior finance leaders can make to their career and recruitment outcomes. Read on to learn more about the unconventional competencies of a great leader.
Research shows that almost 90% of finance leaders believe that coaching is beneficial for both themselves and their organizations. It’s a common misconception that coaching is aimed at junior financial executives. In reality, everyone from account managers to CFOs can benefit from coaching.
As the world of work continues to evolve, coaching is the ideal way to stay on top of your personal development. We’re sharing the reasons why you should invest in coaching as a senior finance leader. At FD Capital, we connect skilled financial professionals with start-ups and companies with a tailored approach to recruitment.
Why Senior Finance Leaders Should Invest in Coaching
When we want to become better at something, we go to a teacher. That’s exactly what a coach is. They’re there to give you the help, support, and guidance that you need. You may want the support of a coach when moving to a new industry, or you may need guidance when taking on new responsibilities.
Whatever the reason, working with a coach is a major investment in yourself and your company. The purpose of coaching is to enhance your performance as a senior finance leader. The finance industry is full of coaches and professional mentors.
Before looking for a coach, you must determine why you want to work with a coach. Having a list of objectives and priorities will help you find the right coach for you and your personal development. You want a coach that you can trust to be confidential and who has the skills and experience to help you progress in your career.
The right coach will help you build your self-esteem, improve interpersonal relationships, and help you achieve a better work/life balance. These goals are something that you might aspire towards at any stage in your career as a finance executive.
Finding the Right Coach for You
While you may look internally within your company for a mentor, coaches are usually best found outside your organisation. The last decade has shown the importance of personal development and how we can’t underestimate the need for life-long learning.
Working with a coach can help you discover new opportunities and overcome challenges in your career as technology and finance roles evolve. You can ask within your network for recommendations of potential coaches. Working with someone from outside your company can help to give you a new perspective on your work.
There are hundreds of senior financial professionals who offer coaching alongside their work or who now work solely as industry coaches. Platforms like LinkedIn are the ideal way to connect with coaches and business leaders who could become your mentor.
When Should I Start Working with a Coach?
While you can start working with a development coach at any time, there are several stages of your career where a coach can be more beneficial. Your coach can help you improve your performance and unlock new opportunities.
When should you consider investing in coaching as a senior finance professional? There are three times when you should consider investing in a coach as a senior finance leader or CFO.
1. Starting a new position
Starting a new role, whether through internal promotion or external recruitment, can be a daunting prospect. You may be stepping up to the role of FD or CFO, taking on board the responsibilities of the position.
Working with a coach can help you identify your strengths and areas where you need to develop, including leadership characteristics or specific tasks. If you’re moving up the career ladder, working with a coach is one of the best investments you can make.
You can also choose to work with a coach when you’re starting your recruitment journey. They can help you identify your strengths and the characteristics that you need to work on to attract potential employers.
2. Moving into a new industry
As a senior finance leader, it’s not unusual to move from one industry to another as your career progresses. While most CFOs have transferable skills and adapt quickly, it’s not unusual to face challenges when moving to a new industry.
Choose a coach that is experienced in your new industry and can help you adapt quickly and give you vital insight into working in this new field.
3. Taking on new responsibilities
The role of CFO is constantly evolving, moving beyond traditional finance duties. As your career develops, you’ll start to take on new responsibilities that may seem foreign. You’ll be expected to take on operational responsibilities and become a leader within your organization.
Working with a coach as a senior finance leader is therefore an investment in yourself and your company. A coach can help you become more familiar with a task you’re not used to. These tasks could include internal auditing, taking your company to IPO, or engaging with private equity firms. Working with a coach can prepare you for these new responsibilities and help you get up to speed.
Become a Senior Finance Leader Today
Are you looking to explore new opportunities as a senior finance leader? At FD Capital, we work with a portfolio of talented financial executives in roles such as CFO and Financial Director.
Our tailored approach to recruitment enables us to connect start-ups and scaling businesses with financial professionals who have the skills and talent to take their businesses to the next level. Join our talent pool today by contacting our recruitment team at recruitment@fdcapital.co.uk.