3 ways to build tomorrow's CFOs

There is no place like home when it comes to developing staff to step into the chief financial officer (CFO) role, with promoting from within often the best way to prime someone for the top finance job.

Preparing a candidate for this position should be a routine aspect of running a finance team, unless there is a reason to recruit externally for a specific skill set.

Yet the data shows that there is plenty of room for improvement across corporate Australia when it comes to succession planning in finance teams.

Research indicates that 97 per cent of Australia and New Zealand organisations report difficulties finding candidates for senior roles. Of these, more than half (56 per cent) link it to a lack of clear succession planning.

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