Please answer the following questions:
You have recently been promoted from your current job working in accounting to the next management level above that job. You must now find a replacement for yourself and then supervise that person in your old job. In order to do this you must engage in a job analysis exercise and produce a job description. Using the job description, you then develop a recruiting plan and selection strategy including testing and interviewing. Once that person has been hired, his/her job performance must be evaluated. A performance evaluation philosophy and method must be developed. You must then decide how the position should be paid and why. Finally, training and development issues must be addressed for professional growth. Use at least one theory from the organizational behavior literature to support your positions.
Here is a guide to write your response. I have included links to the references used. You will need to paraphrase some resources for your own answer - but you will have enough to go on in this guide. Please follow up with me if you need anything additional.
See the attached file for proper formatting and links.
Transition from Controller to Chief Financial Officer
The purpose of this study is to show an employee's transition from a Controller of an organization to the next management level position of CFO. Today, the role of the CFO has been elevated from glorified/bookkeeper to financial manager and at times, financial wizard. To be successful, today's CFO must understand and clearly communicate the relationships among revenue, staffing levels, and expenses. The primary responsibility of CFO's today is to ensure that all financial information is accurately transferred into a managed delivery system that can be translated quickly into management information. Finally, and perhaps most important, these responsibilities also require leadership. The five key skills the CFO should possess are; Strategist, Translator, Technical Generalist, Leader, and Facilitator.
The CFO of an organization plays a pivotal role in the accounting department. The CFO is ultimately responsible for the timely closure of the books, making accounting judgments, and for preparing accurate and timely financial statements. In addition to technical skills, a CFO also needs a broad set of "soft" skills, which are also known as people skills. Most of the time, these soft skills are not mentioned in the actual job description.
Although the job requirements of being a CFO are stringent, there are financial benefits of being a CFO. The average salary of a CFO is 30% to 60% higher than that of a controller, according to Robert Half International. With great rewards comes great risks - the turnover rate for CFOs of smaller companies is every two to three years according to Liberum Research. Therefore, once you land your CFO job it is essential that you work hard to keep it. A CFO must be very well prepared on the front end, as there is no learning curve allowance when you have governance over the entire financial module of a company. Many Veteran CFOs claim that in order to be successful, a CFO must have five basic skills before stepping into this lead financial role.
Strategist - ...
Promotions and a jab analysis are examined. The transition from a controller to chief financial officer is determined.