Why Your CFO Should be Your BFF

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The majority of HR teams still have a long way to go in establishing confidence in their analytics capabilities. That's no big surprise. But what did surprise us was how low the number still is: our study last year found that only 15% of the organizations surveyed believe their HR teams have strong credibility in talent metrics and analytics. 

 

Our research showed that these teams struggle with data quality and integration, as well as building the necessary skill sets and resources on the team.  If your team is struggling with these issues, one secret may be in your CFO.  I know what you may be thinking – in many organizations, HR and Finance just do not see eye to eye. But it is important for  talent analytics teams to build strong connections with other functions within the company.  Finance, in particular, is an important relationship to build.

 

One analytics leader I talked with recently described his CFO as his “BFF,” noting that his CFO has helped him to gain access to data, explain different financial measures, and has provided staffing support for analytics projects. Analytics leaders should also work with Finance to agree on definitions for measures, which can be a common source of contention. Rather than viewing your CFO as an adversary, view him or her as a potential ally and work together to make talent analytics more effective.  This is just one component of a centralized, interconnected talent analytics team.

Madhura Chakrabarti

Employee Engagement & People Analytics Research Leader / Bersin, Deloitte Consulting LLP

Madhura leads the people analytics and employee engagement research practices at Bersin, Deloitte Consulting LLP. Highly regarded for her work in analytics, employee engagement, organizational development, and preemployment hiring assessments, Madhura helps corporations make data driven talent and business decisions. Her work has been published in the Journal of Business and Psychology and the Handbook of Positive Psychology and Work. Madhura has a doctorate in industrial / organizational psychology and a master of arts degree from Wayne State University, as well as a bachelor’s degree in psychology from the University of Delhi, India.

One thought on “Why Your CFO Should be Your BFF

  1. There’s a ton of wisdom packed into those few paragraphs, based on hundreds of organizations’ experiences (successes, failures, and those cases when success is finally achieved after initial failure)!

    Whenever someone is not making progress down the path, stop and think about WHY current obstacles are blocking the way, and what different way around them there may be.

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