Despite acknowledging the upside, most CFOs don’t promote role rotation in finance. In the quest to develop and retain staff, finance executives recognize the value of allowing employees to move into roles in different areas of the company.
Chief financial officers (CFOs) in a Robert Half Management Resources survey said the benefits of job rotation include giving staff broader exposure to the business, gaining fresh perspectives and enhancing recruiting and retention, professional development and succession planning.
However, many organizations have yet to put role rotation into practice. The majority of respondents, 53 per cent, said they do not promote these opportunities to their finance teams.
Following are the areas where CFOs who promote job rotation allow financial staff to rotate into:
“It is an effective way for employees to access new skills and expertise for future advancement within the company, while opening the business to fresh insight and perspective through collaboration.”
Here are some areas according to the survey, wherein executives can discuss whether role rotation is right for their team:
King added, allowing staff to experience different areas of the business can also serve as useful means for attracting top employees for new positions. “Driven professionals want to be a part of an environment that promotes career growth and advancement; role rotation offers them the chance to challenge and evolve their current skills, while preparing them for future leadership positions.”