How to Determine if a Team Member Has Outgrown Their Position as a CFO

A CFO in a company has many “jobs” or functions that help your finances – one of which is team management. A CFO can help you determine if your financial team is in a secure place or if some employees have outgrown their positions and need additional support. 

How do you determine if a team member has outgrown their position as a CFO? There are many “signs” that a team member is outgrowing their position, which you should be familiar with as a CFO. These may include seeing the team member take initiative and focus on professional development, having career aspirations and goals, and being engaged and motivated.

There are more signs to look for and conversations to be had with your team members – let’s look at the full breakdown of what we, as CFOs, would consider when looking at a team member’s growth and potential:

#1. Performance Reviews and Feedback

As a CFO, it’s essential to look at your team member’s performance reviews and gather feedback on their work. This will help you get insight into their skills and accomplishments from before and since getting their current position. Team members who consistently exceed expectations and efficiently complete tasks might be ready for more challenging responsibilities.

#2. Task and Project Complexity

Checking the task and project complexity of your team member’s work can help you gain valuable insight into their abilities. If these tasks are consistently completed ahead of schedule or without any significant challenge, this could indicate that their skills have surpassed their current role.

#3. Team Member Initiative and Innovation

Take time to observe if your team member often takes the initiative, proposes new ideas, or finds more efficient ways to complete tasks. This proactive behavior shows they are ready for more complex challenges, which would be required in a higher-level role.

#4. Professional Development and Learning

A CFO should look at their team member’s trajectory in professional development. Are they looking into or participating in training or gaining certifications for new skills that can be utilized in their current position and beyond? 

#5. Feedback From Colleagues and Managers

In addition to your performance review, you should gather information and feedback from your colleagues and managers. Colleagues can provide valuable insights into a team member’s capabilities and how they compare to the demands of their current role.

#6. Career Aspirations and Goals

Step aside and discuss their career goals and aspirations during a one-on-one meeting. Ask about where they see themselves in the future and what their goals are. Understanding where they see themselves in the future can help you assess whether their current position aligns with these goals.

#7. Engagement and Motivation

Monitor your team member’s engagement and motivation levels. A lack of a challenge can lead to disengagement. If an employee seems less motivated or engaged than before, it may be due to the simplicity of their tasks.

#8. Job Scope and Responsibilities

Compare their current job responsibilities with their original job description. It may be time to reevaluate their role if they have consistently taken on more responsibilities or different tasks than initially outlined.

If you need a CFO to help you with these decisions, reach out to the ModVentures team today for a free consultation.