From Policeman to Business Partner: Changing the Culture

Ladderburners Unite!

In this case study, George Wheaton, CFO, (not his real name) embarked on a journey to change the image of the accounting and finance from that of policeman to a one of supporting the business. Everything was up for discussion - the structure , processes, roles and responsibilities, and use of new skills. The overarching objective was to change the culture by aligning the F&A organization with the business units for more effective decision making . For every ten culture change initiatives that fail, George Wheaton was the one that succeeded.

CASE NOTES

Case Study: Strategic Talent Development at Real Resources

This script studies the case of Real Resources and its CFO George Wheaton. Faced with a rapidly evolving post-Covid business environment, a retiring baby boomers population, and a distinct view of work by new workers, Wheaton initiated a strategic transformational initiative.

Wheaton's quest aimed to transition the finance and accounting department's image from that of a 'policeman' to that of a valuable business partner. The transformation focused on not just changing the department's culture but also attracting, developing, and retain talent, positioning finance as a vital part of the decision-making process. Challenges included overcoming organizational inertia, generational differences, and short-term thinking.

Real Resources implemented various strategies for this transformation, including fostering a talent development culture based on specific behaviors, a structured recruitment and selection process, on-boarding through clarifying expectations, and the crucial role of ongoing coaching and mentoring.

The final sections of the case study discuss approaches to employee retention and separation, demonstrating that managing talent is a holistic process. The script concludes by contemplating study questions surrounding the initiative, its implementation, the role of leadership, and potential vulnerabilities.

--- Send in a voice message: https://podcasters.spotify.com/pod/show/ladderburners/message