CFO Mentoring
As a former CFO of Microsoft Worldwide Operations, Ken Hickey brings real-world C-suite executive experience to his client's leadership and business opportunities.
CFO Mentoring
As a former CFO of Microsoft Worldwide Operations, Ken Hickey brings real-world C-suite executive experience to his client's leadership and business opportunities.
The CFO Mentoring Process
CFO Mentoring will accelerate your personal and professional development, offering expert level guidance on your goals and desired outcomes, and providing a confidential sounding board to test your ideas.
Schedule a free, absolutely no-commitment, consulting call by pressing the ‘Get Started’ button. You and I will spend 30 minutes discussing your leadership goals and challenges and assess if CFO Mentoring is the right next step in your personal development.
We will “Contract” on foundational elements of the mentoring relationship such as objectives, responsibilities, logistics, administration, and confidentiality. A CFO Mentoring Proposal will be tendered for contract approval.
We begin our mentoring sessions with a deep dive into the opportunities and challenges facing the CFO out of which we will create a CFO Development Plan that serves as the overall roadmap of our mentoring engagement. Each CFO Mentoring engagement is tailored to the specific context and needs of the client and their business.
Our sessions will be driven by what you want to achieve personally and professionally. They can focus on leadership, functional, or business topics and would often include: People & Team Leadership, Strategy, Corporate Governance, AI & Digital Transformation, Executive Presence, Working with Boards, Career Development, Establishing Credibility as a New CFO.
Benefits
Accelerated Learning and Development
A CFO Mentor’s insights can help you avoid common pitfalls and accelerate your learning curve in critical skills such as strategic financial planning, risk management, and effective communication with stakeholders.
Strategy and Decision Making
A CFO Mentor can help you shift from a purely operational focus to a more strategic mindset, guiding you on how to align financial strategy with broader business objectives. Mentors provide a sounding board for complex decisions.
Career Advancement
If you aspire to become a CFO, a Mentor can provide insights into the steps you need to take, the skills you need to acquire, and the experiences that will make you a strong candidate for the role.
Leadership Development
Mentors can help you build the leadership presence and influence necessary to succeed as a CFO, guiding you on how to inspire and lead your team effectively, and how to lead across the organisation.
Confidence Building
Having a Mentor to discuss challenges with can boost your confidence in your ability to handle difficult situations. Their reassurance and advice can be particularly valuable during times of uncertainty.
Crisis Management Support
Having someone to talk to who understands the pressures and responsibilities of a CFO can provide emotional support during challenging times.
Feedback and Accountability
Honest and objective feedback can help you identify areas for improvement that you might not see on your own. Regular check-ins can keep you accountable to your goals, ensuring that you stay focused and on track in your development.
Personal Growth and Reflection
Mentors can prompt you to reflect on your values, goals, and motivations, helping you align your career with your personal aspirations. They can offer advice on managing the demands of the CFO role while maintaining a healthy work-life balance.
CFO Mentoring FAQs
Here are some of the most common questions when it comes to CFO mentoring. If you have any other questions, feel free to reach out.
What is CFO Mentoring?
CFO Mentoring is a relationship where an experienced CFO provides guidance, support, and advice to a Mentee, helping them enhance their leadership skills, navigate complex financial challenges, and prepare for higher-level responsibilities in financial management.
Who can benefit from CFO Mentoring?
- CFOs seeking to refine leadership, financial strategy, and decision-makings skills.
- CFOs who want to increase their overall impact on the broader organisation.
- Newly appointed CFOs looking for guidance.
- Aspiring CFOs preparing for the role.
- Senior financial professionals transitioning into more strategic roles.
What topics are typically covered in CFO Mentoring?
- People leadership, team & organisation development.
- Strategic financial management and planning.
- Corporate governance, risk management, and compliance.
- Digital transformation, AI and the evolution of the finance function.
- Budgeting, forecasting, and financial reporting.
- Strategic business partnering and executive-level relationships.
- Working with boards.
- Transitioning from operational to strategic finance leadership.
How does CFO Mentoring differ from Executive Coaching?
- CFO Mentoring is typically focused on specific financial leadership issues, drawing on the mentor's own experience as a CFO. Executive Coaching, on the other hand, tends to be broader, focusing on leadership skills, behaviours, and overall professional growth, often without the mentor having been in the exact role of the mentee.
- Mentoring involves the Mentor sharing knowledge, experiences, and advice while Coaching focuses on facilitating the individual’s own problem-solving and decision-making rather than providing direct advice.
How long does a CFO Mentoring relationship last?
- The relationship can vary in duration but typically would last one year. The relationship may be longer if ongoing guidance and development are needed and would evolve over time as the Mentee grows.
- Sessions are usually held monthly with each session lasting 90 minutes to two hours.
Is CFO Mentoring in-person or online?
CFO Mentoring can take place through in-person meetings or online through video conferencing. The choice of setting will be driven by what is convenient and accessible for clients and may also be influenced by the nature of the topic being discussed.
What is the evidential support for the benefits of CFO Mentoring?
- Career advancement and salary increases
- A study by Gartner (2006) found that employees who participated in a mentoring program were promoted five times more often than those who did not participate.
- 86% of CEOs surveyed by Vistage Inc (2020) agreed that mentors were a crucial part of their career accomplishments.
- Research by the American Society for Training and Development showed that 75% of executives credited mentoring as playing a key role in their careers.
- Skill development and performance improvement
- A survey by the Harvard Business Review (2015) found that 84% of CEOs who had formal mentoring relationships stated that these relationships helped them avoid costly mistakes.
- Research from the Journal of Applied Psychology (2011) showed that mentoring programs positively affect mentees' job performance, organizational commitment, and job satisfaction, leading to overall improved work outcomes.
- A study by the Society for Human Resource Management (2014) showed that 71% of Fortune 500 companies have mentoring programs because of their effectiveness in fostering a strong organisational culture and developing leaders.
- Diversity and Inclusion
- A study by Catalyst (2013) noted that mentoring is particularly effective for advancing women and minorities in the workplace.
- A study by the Center for Talent Innovation (2010) found that minorities who had a mentor were more likely to be promoted than those without a mentor.
Results that speaks for themselves
An outstanding coach
One of the best that I have worked with
An excellent executive coach
Provided a safe environment for us to push our boundaries
Guided me on a journey of self-discovery
Super life and career coach
Listened intently and created a supportive environment
Not only insightful but also inspiring
An outstanding coach
One of the best that I have worked with
An excellent executive coach
Provided a safe environment for us to push our boundaries
Guided me on a journey of self-discovery
Super life and career coach
Listened intently and created a supportive environment