VideoFurthermore, Concord management continues to set reasonable goals, commensurate with the economic climate. With $77 million in cash and no debt, Concord is "barely growing and barely profitable," says Cruz. But she seems comfortable with that, given the slowdown in the economy.
The best collective advice executives offer about surviving the downturn: Create an environment that encourages the staff to learn something from the experience, rather than just learning how to place blame.
And make no mistake, there's no shortage of executives willing to blame everybody but themselves for poor results. If your company's top brass has managed to avoid that very-human pitfall, you should give them high marks. Remember, they're probably getting plenty of pressure to make changes — including personnel changes.
5. The Equipment Works
If you're watching a movie with great cinematography, film buffs say you shouldn't notice the technology behind the lush shots. Rather, the cinematographer's magic should seamlessly pull you into the scene.
It's the same with the office technology — albeit a bit less dramatic. If the technology works, you shouldn't notice it. And while access to stuff that works seems like an obvious job requirement, it's surprising how many experts ranked access to good office tools and technology as a top priority in identifying a worthwhile employer.
"A good employer supplies tools that have the sophistication and currency" to help you do your job, notes David Opton, CEO of executive-career resource Execunet. Is the ERP and financial software upgraded? Are Internet connections secure, reliable, and fast? Will that blinking fluorescent bulb in your office ever be replaced? These basics, Opton says, are things to consider when evaluating an employer.
An organization's physical condition is also a clue to both culture and financial wherewithal, suggests DBM's Little, who urges clients to assess a company's physical environment before taking a job. A lousy office space and outdated computers are two certain signs that a company 1) doesn't have much money or 2) doesn't care about its workers. Even thrifty employers provide their employees with decent working conditions.
When contemplating leaving one company for another, DMB's Little counsels ship-jumpers to "go on site [at the prospective employer] and get a gut reaction." Some questions to ask yourself as you tour: Could I imagine myself working here? Do they use state-of-the-art equipment? Do they invest in the physical plant? For example, think twice about signing-on with a trucking company with a fleet from 1970s. You should be questioning the company's commitment to growth.
6. Flexible, Very Flexible
From time to time, just all about employees find themselves dissatisfied with some aspects of their jobs. But that doesn't necessarily mean it's time to hit the road. If the angst goes beyond a few months, it may be time for a change.
That doesn't necessarily mean a job change, however. Experts point out that a good boss is usually willing to work with an employee to keep things interesting — and rewarding.
Some companies will work with employees to alter the scope of a job (the chance to add operations responsibilities to the finance function, for instance). Others might bump up or modify existing benefits.
DBM's Little suggests doing a little scouting by networking with other CFOs to compare company perks. She talks about one client who, after some checking around, was surprised to learn he wasn't getting the leadership development training other companies routinely offered.
So, the client presented his case to the company's executive committee, and he eventually got them to include executive education and industry conferences in the budget.
That's a clear marker of an employer who cares about holding on to staff. Management should value you enough to be willing to listen and, if necessary, change, insists John Wilson, CEO of CFO search firm J.C. Wilson Associates. He points to Dell's recent decision to give cash bonuses in lieu of worthless options. "If you were the CFO at Dell, you'd be happy that management thinks enough of you to adjust the bonus structure," he says.
Not all companies have the financial wherewithal of Dell Computer, however. But poor cash-flow shouldn't stop companies from keeping executives satisfied and intellectually stimulated. "If I want to keep my CFO," for example, "and I know headhunters are calling, I'm going to get creative," asserts Wilson.
One possibility: if a CFO seems bored after a few years at the same grind, the CEO may suggest a move to operations. The finance chief will likely appreciate the offer to expand his resume, says Wilson. "The funny thing is, you don't have to part with money to satisfy employees — at least, not initially."
7. Open-Door Policy
There are some finance chiefs who politely fend off recruiters like John Wilson, saying, "I wouldn't want to be disloyal to my CEO." It's a response that invariably impresses the usually unflappable Wilson. Indeed, a good relationship with the boss is key to a great workplace, especially for CFOs. In fact, CFO recruiter Peter Crist believes the role of the COO is fading, making the CEO-CFO relationship "the critical combo."
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