Finance News & Insights

3-part plan for a more formal cross-training process

At this point, most managers understand the myriad of advantages that come from cross-training. But could your finance department benefit from an even more formalized cross-training process?

Here is a three-step strategy to help make cross-training a more formal process in your finance department:

  1. Identify — and rank — which processes and roles need to be protected in your finance department. While the goal is to eventually create a cross-training program in which all positions can be covered by a co-worker, certain tasks must take precedence — i.e., running payroll.
  2. Create a panel of experts. All managers know who their top performers are. But your experts need to be strong communicators when it comes to explaining what it is that they do.
  3. Figure out who should be cross-trained. It may not be worthwhile to train every member of your finance department. This is a great opportunity to send a message to your superstars that you really want them to further their careers.
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