Vantage CFO Blog | From Our Vantage Point

A recent Wall Street Journal article captures the conundrum CFOs currently have with big data accurately: “Big data seems tailor-made for finance chiefs. So why aren’t more of them using it?”

Few people are as familiar with the new role of the CFO than Aaron Benway. CFO of HelloWallet, makers of a third party financial software that helps employers and their workers manage their finances and benefits, Benway finds himself at the forefront of the organization’s business goals.

As the role of the CFO continues to grow and evolve to include more business development functions and responsibilities, it’s clear that you are fast becoming the backbone of the C-suite.

It’s no secret: The role of the CFO is changing. It’s a reality we’re well aware of here at Vantage, and about which we’ve written before.

Few CFOs are more versed in those changes and evolutions than Mark Stull, CFO of Liberty Hardware in Winstom-Salem, North Carolina, since 2006.

In his excellent book How Will You Measure Your Life, renowned Harvard Business School professor Clayton M. Christensen distills decades of business research into thoughtful advice about how to live a meaningful life.

Why it’s important for CFOs—and all professionals, for that matter—to always seek a fresh perspective.

Last week we defined the psychological principle of “flow,” how it relates to the business world, and what it might look like to cultivate a work environment more conducive to flow experiences. This week we’re examining the research on flow and outlining the specific characteristics of the flow experience as it relates to the workplace. The purpose is to more clearly define the flow experience to paint a picture of what success looks like.

In his book “Good Business,” Mihaly Csikszentmihalyi lays out the 8 defining characteristics of flow:

1) Goals Are Clear:

The end result is important, but over-emphasis on the ultimate goal can interfere with present performance. Think clarity of purpose over hitting a quota.

“True enjoyment comes from the steps one takes toward attaining a goal, not from actually reaching it. People often miss the opportunity to enjoy what they do because they focus all their attention on the outcome, rather than savoring the steps along the way. Where does the pleasure in singing come from-finishing the song, or producing each note or phrase? Do we appreciate a fine dinner because we feel full at its end, or because each bite has tasted good? Isn’t negotiating a business deal more…

Have you ever been so engrossed in an activity that you completely lost track of time? Perhaps you’ve experienced a runner’s high, where each strides feels effortless?

If so, then you have experienced ‘flow’ – a concept pioneered by Mihaly Czikszentmihalyi that refers to an activity that “draws one in with its complexity to such an extent that one becomes completely involved in it.”

Mihaly’s research shows that the ways in which people describe activities they deeply enjoy are remarkably common, despite the fact that the activities they’re actually doing are quite different. This demonstrates that flow is more about the mental state than the activity itself.

During the Olympics, JCPenney unveiled a new advertising tagline that raised eyebrows:

“When it fits, you feel it.”

Applied to their recent bout of turnover in the company’s executive suite, that tagline accurately sums up personnel moves that have included the ouster of their CEO and, most recently, their CFO.

When it fits, you feel it—and when it comes to hiring and keeping top executives—JCPenney, one of the nation’s largest apparel and home furnishing retailers, hasn’t been feeling it lately.

I find it interesting that not all CEOs who are on the IPO track see hiring an experienced CFO as a necessity. This seems counterproductive since companies with an IPO typically need more focus and experience in the finance department to keep investors and board members happy and feeling like their investments are secure. This article suggests, however, that qualified CFOs are important and certainly in high demand by companies in pursuit of an IPO.