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A formal teaching and development program was created for current staff, as well as talent acquisition and retention strategies aimed at adding the talent that finance was lacking internally.“The two-pronged approach of acquiring new talent and developing existing talent provides more benefits than simply taking one course of action,” says Mr. Related Resources What’s Keeping CFOs Awake and What They’re Doing About It Success Factors for Attracting and Retaining Finance Talent Survey Finds Businesses Reshaping Talent Strategies to Build Leadership, Global Growth This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services.DTTL and each of its member firms are legally separate and independent entities.
The teams have been productive, solving business problems and working with 25 finance leaders as mentors.
“In order to grow new leaders in the business, it was important to follow a pathway that focused first on building those technical and business skills, then management skills and then finally leadership skills,” says Mr. “Because the company was looking to build its talent pipeline five to seven years out, those first years in the program were considered critical for participants to learn all they could for their future achievement.
At the same time, the company had to identify who the top talent would moving forward, and it developed a rotation component to provide participants a breadth of experience.” One year into the program, the results appear to be on track.
Last, participants were expected to take ownership of their careers, making them responsible for understanding their career expectations.
They also were assigned mentors, who could share their experiences and provide support.