Completing a Team and Talent Mapping Assessment, for a Financial Planning and Analysis function, within a Major Manufacturer
Beaumont Bailey’s Industrial practice assisted in the development of a new FP&A function for the North American division of a major industrial manufacturing company. The objective was to develop a best-in-class pool of talent, from organisations with leading FP&A functions, which had the potential to enable effective, enterprise-level decision making ability for it’s high growth US division.
PROJECT BACKGROUND
Following periods of rapid growth and development and integration of new solutions into the organisations product portfolio, our client, a senior executive part of the groups North American Leadership team, anticipated a need to ramp up their FP&A team with top financial talent. Our client wanted full visibility on talent ranging from rising stars within the industry, to C-level executives from comparative industrial organisations who would be willing to make a change.
REQUIREMENTS
Our client required a comprehensive overview of the current state of play of talent across the US, capable of contributing to their expanding function. They wished to assess the specific skillsets possessed by candidates across a variety of industries, benchmark salary data to assess if current compensation structures would be competitive and also launch a comparative analysis of which ‘academy level’ organisations, possessed complementary leadership functions to be targeted.
OUTCOMES
Beaumont Bailey’s industrial practice utilised its extensive history of delivering financial talent, both across the US and in Europe, to generate an immediate map of target organisations, with ‘best in class’ financial functions, to form the basis of this project. The target list was generated through referencing our existing candidate pool of CFO talent to identify specific companies whose financial systems and processes were both industrially relevant to the sector and also attracted and developed some of the greatest financial talent in the industry.
Once a target list was generated, the industrial practice engaged in exploratory conversations with a variety of financial talent, to assess career motivations, skillsets and interest in new challenges. After just a few weeks of research and conversations, we were able to deliver a comprehensive talent map of engaged, high potential FP&A talent and Future CFOs our client could use in internal discussions. Beaumont Bailey was also able to compare existing compensation and benefit packages within the client’s company, against a benchmark figure within the industry.
The result of this project has been a great success, both in encouraging progressive discourse about compensation and role attractiveness within the organisation, and in visualising how the team could be built out to keep up with high growth potential. One of the candidates identified as part of our mapping process, has since joined the company to lead a major build out of the FP&A function.
Get in touch with James Pope to discuss your organisation’s FP&A, Senior Leadership, and Assessment strategy – james.pope@beaumontbailey.com.
