Keys to Effectively Managing Subcontractors

managing subcontractorsThis article first appeared on the Beyond.com Careernetwork™ website on July 30, 2013.

From time to time, many workers use or contract “substitutes” to perform tasks that they cannot or prefer to not do for a variety of reasons. These subcontractors are ubiquitous, and can be found in the home, the workplace, even schools. The majority of subcontracting arrangements are casual, simple verbal understandings where duties, terms of agreement, and outcomes are easily understood and accepted by both parties for jobs such as yard maintenance, housecleaning, or babysitting.

Some arrangements are more formal and complex, often involving a number of people performing a service over a period that may extend for weeks, months, or even years, and have detailed expectations about work procedures, the final deliverables, and payment for the services being performed.

Whether you are contracting with a local arborist to trim your trees, or an executive hiring a firm to deliver a multifaceted software system to run your business, knowing how to manage a contractor/subcontractor relationship is essential if you want a satisfactory outcome.

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Top 6 Time Management Tips for CFOs

clocks time mgtThis article initially appeared in The Insight Forum Blog on July 9, 2013.

“Until you can manage time, you can manage nothing else,” warned noted management consultant Peter Drucker. Yet 38% of CFOs cited time management due to competing priorities as their biggest work challenge, according to a survey of 1,400 CFOs at US companies in 2011 by Robert Half Management Resources.

One reason frequently cited for lack of time is the changing role of CFOs in organizations. The passage of Sarbanes-Oxley, the financial pressures from the 2009 recession, and the need of accurate financial projections and scenario planning has expanded duties and responsibilities of CFOs for companies of all sizes.

Changing Responsibilities of a CFO

Historically, the role of a CFO was that of a watchdog who ensured that the organization’s books of account were accurate and that its assets were properly valued and protected. It required internal (management) and external (regulators, shareholders) reporting to be completed accurately and on-time. With the perspective of past events and a reactive mindset, the CFO’s focus was directed internally, with staff dedicated to accounting (controller), funds management (treasurer), and compliance (taxes and fees).

Today, CFOs are expected to provide those same services to the organization, but with a new perspective, style, and mindset. He or she is expected to bring a strategic element to the mix, anticipating future opportunities and risks, with an expanded relationship with the CEO, board, and regulators. Rather than just recording events, the CFO is expected to add tangible value to the corporation by working closely with operating units in operational and strategic partnerships. In short, the CFO is expected to have strategic influence, global fluency, proactive finance strategies, accurate operational projections, and operational intelligence, in addition to continuing to provide accurate, on-time financial statements and managerial information.

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