Internal Cooperation is Key for Success, Experts Say

key

Companies should, first and foremost, focus on internal partnerships across all departments, particularly when implementing new technologies.

“Technology initiatives affect nearly every business unit within organizations today,” John Reed, senior executive director for Robert Half Technology, said in a statement.

One C-level position in particular has been picking up on that message: Chief Financial Officer. According to a recent survey from Robert Half Management Resources and Robert Half Technology, 51% of CFOs said they are collaborating more frequently with their IT counterparts, compared to three years ago.

Expanding CFO-CIO relationships are indicative of a larger trend of cross-functional partnerships, Reed said. “Teams that make it a priority to focus on collaboration, help pave the way for smoother integration of new systems and processes.”

And lenders seem to recognize this trend. Just last year, Toyota Financial Services created a new global leadership role for their current CFO Chris Ballinger. Ballinger took on the role of chief officer of strategic innovation in 2015.  “[In this role] Ballinger helps to guide global TFS strategy to address future market trends and business model requirements,” the company said in a statement. “He reports to Riki Inuzuka, president and CEO of Toyota Financial Services Corporation in Japan.”

How can companies encourage interdepartmental collaboration? Robert Half offers six simple tips.
  1. Encourage a Companywide View
    Guest speakers, and mentoring programs across departments are a good way to bring together the different areas of a company.

  2. Communicate Priorities
    Use consistent messaging throughout the organization about the company’s opportunities, challenges, and goals.

  3. Speak a Shared Langua
    Skip acronyms and industry jargon when communicating the above priorities.

  4. Extend the Invitation
    Or in other words, invite the marketing team for your HR’s teambuilding.

  5. Seek an Outside View
    When all else fails, outsource: there are plenty of consultancy agencies that can help develop a strategy to encourage interdepartmental collaboration.

  6. Celebrate as a Group
    Work hard, play harder, with everyone in your team.

     

Chris Ballinger will give the keynote address during the inaugural Auto Finance Innovation 2016, on May 11, in Fort Worth, Texas. For more information, click here

    Leave a Reply