CFOs are failing to provide finance teams with the career development they need

Certificate trainingSean Gallup/Getty ImagesA finance talent development strategy should be built to meet departmental needs for the future.

CFO Insider is a daily newsletter from Business Insider that delivers the top news and commentary for chief financial officers and other finance experts.
Finance teams are not receiving the training they need (Wall Street Journal)

CFOs understand the need to build strong communications skills and data analysis capabilities, but they are failing to offer needed training to their teams in those areas.

“Many finance leaders find themselves with talent who were not necessarily hired for their partnering skills, while the finance organisation is not set up to provide in-depth partnering experiences,” Tina Witney, a director in human capital financial services at Deloitte Consulting LLP, tells The Wall Street Journal.

According to The Journal, “40% of respondents were not optimistic about their ability to meet the talent demands of the future, even when they had talent development strategies in place.”

“An effective finance talent development strategy should identify top talent needs, lay out paths for employees to acquire and expand required skill sets and experiences, promote customised career development plans, and address succession planning,” Whitney says.

Why IBM spent billions buying a tech they already had access to (Business Insider)

IBM reportedly paid $2 billion to acquire the Weather Company, owner of and other weather-related services.

Business Insider spoke with IBM’s Inhi Suh, VP and GM of Big Data, Integration, & Governance, and attended a fireside chat with CFO Martin Schroeter, to learn more about the acquisition.

According to Suh, the company was interested in purchasing the Weather Company because of its growing ability to “map the entire atmosphere” and provide systems of tremendous scale alongside IBM’s own analytics systems.

The acquisition isn’t just about mapping the weather and building weather-based systems.

“This is a platform that has an incredible amount of scale that’s good for weather and really good for a lot of other things,” Schroeter said. “The way this system was designed, you have to think of end-points — right now the end-points are weather-based. But the end-point could be a smartwatch or it could be your refrigerator.”

GitHub CFO Vlado Herman leaves the company (TechCrunch)

GitHub CFO Vlado Herman has left the company.

TechCrunch reports that the high-profile hire, who joined the company in December 2012, left alongside David McJannet, VP of marketing.

Herman was a high-profile hire when he joined the firm from the chief finance role at Yelp.

“The company faces some competition from other companies like Atlassian. So as the company grows, it has to ensure that it continues organising itself in such a way that it is able to fend off the competition — which typically can include a change-up at the management layer,” TechCrunch reports.

NOW WATCH: Business dining etiquette rules every professional should know

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.