Build a high performance team and leverage technology.
A report by London Business School found only 30 per cent of managers believe they can delegate efficiently. The reason was not because they doubt the value of focusing more of their time on strategic tasks, it’s that managers don’t trust their team members can successfully execute some of the non-core tasks.
The same can be said for building capability and trust in non-financial operational resources, however this doesn’t come without an investment of your time.
The importance of finance business partnering is only increasing with the drivers for timely information and the ability to self-source. It is critical that our finance leaders partner with their operational counterparts to ensure that they understand the financial information, implications and correlation to operations so that they are able to make informed decisions – not just decisions using information.
A willingness to build capability pays significantly greater dividends and enables more strategic thinking in your role.