The GenX CFO

I am a proud Gen Xer.  A latchkey kid if ever there was one.  Both my parents worked outside the home because they had to, not because they wanted to.  In elementary school, my older sisters would watch me after school. But they had moved out by the time I made it to junior high and from then on, I was on my own every day until one of my parents got home.  Of course I usually had band practice or drama rehearsals, or I made a regular rotation at my friends’ houses.  But that was the life of a tween/teen in the 1980s.

(*cue picture of teenage Diane sitting by herself dreaming about the future with “Everybody Wants to Rule the World” by Tears for Fears playing in the background*)

The study of the different generations is fascinating to me – sure, most of it is filled with sweeping generalizations that you can always find an exception to.  But the traits that define each generation are based in their shared collective experience as children, so many of those generalizations are true more often than not.

So what do they say are the common characteristics of Gen X?  The most common ones are Independence and Self-Reliance.  We were the first generation to have two working parents.  We had to take care of ourselves or sometimes our siblings. It made us resilient.  I recall many a meme during the COVID pandemic joking that we Gen Xers were built for lockdowns: 

• Plenty of time alone? Check.  

• Hours watching television? Check.

• Quietly taking care of ourselves while everyone is worrying about the Boomers, Millennials and GenZ? OK, that one’s a bit whiny, but…..Check.

Gen X also has a number of other common characteristics associated with it: Skepticism. Pragmatism.  Adaptability.  A desire for work-life balance.  Ability to problem solve. Eagerness to learn new skills.

Sound like anyone else you know?  Hopefully, your CFO!  In many ways, it’s the role I was born to play. 

We talk a lot in our department about how Finance people in their early career are rewarded for their technical abilities, and then one day *BOOM* they get promoted to manager and are just “expected” to know how to manage people! It’s a focus area that you don’t find in all Finance departments, but it is one we have emphasized the last few years. I was having dinner with some members of my team a few weeks ago.  As we were discussing that concept, one of my managers asked me what the biggest change or surprise was when I took over as CFO. 

I had to think about that one. 

Then it dawned on me: just like the idea that technical prowess gets you to a certain point in your career until that sudden left-turn to Leader-of-People, it was the same with Independence and Self-Reliance.  Those core Gen X traits served me well in my early career – especially in Tax.  I would take a problem back to my desk, work through it for hours, and then return to the boss’s office with the answer all worked out like a Gladiator returning from battle, townspeople tossing flowers at my feet.

Fast-forward to becoming a CFO:  you’re working with the CEO, the Executive Team, the Board, Shareholders, Banks, Customers, Vendors, your Finance Leadership team, leaders of other functions – and guess what? You need help from all of them. A CFO is a strategic leader as much as she is Knower of All Things Number-y.  You cannot be a strategic leader all by yourself.  Being the nerd in the corner with the green visor just doesn’t cut it anymore.

That was perhaps even more pronounced when dealing with my own Finance team.  I am no longer the best person to get at data. (No!) Or answer a technical tax or accounting question. (Say it ain't so!) Or create a spreadsheet. (How dare you! Take it back!)  My team of talented and highly capable professionals is.  And this is by far the toughest part of moving up the organization:  letting go.  And as my team will probably tell you, I’m not very good at it. I still love a good spreadsheet – even if mine are absolutely primitive compared to what they can do!

We’re all still a work in progress.  That independence and self-reliance runs deep in this Gen Xer, but I work at it every day. Having the right team in place makes it much easier and more rewarding.