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EVENTS

EXECUTIVE DINNER SERIES

28

WWW.CFOSTUDIO.COM

Q2 2017

UP-TO-DATE TOOLS AND

WORK/LIFE BALANCE

CAN RESULT IN A

HIGH-PERFORMANCE

TEAM

T

here are many ways to define and

measure what constitutes a team that

is lauded as “high performing,” but

when you get right down to it, “it’s

all about the people and the culture.” That’s

according to Scott Settersten, CFO of Ulta

Beauty, the largest beauty specialty retailer

in the U.S., based in Bolingbrook, IL. “It’s

not just about hitting your financial targets.

If you have a team that is unhappy, or doesn’t

interact well with business partners, simply

making your numbers is not enough. It spans

way beyond that.”

Mr. Settersten spoke on “Building and

Sustaining a High-performance Finance

Team” at an invitation-only dinner discussion

attended by CFOs fromChicago-area world-

class companies. The event was held recently

at Morton’sThe Steakhouse in Chicago, and is

part of CFO Studio’s Executive Dinner Series.

“People need a good environment to

work in,” said Mr. Settersten. “They need to

feel empowered so that they develop good

working relationships across the enterprise

and can work effectively to help move the

business forward.

“You are the leader,” he said to his fellow

CFOs in the room. “You own the culture. If

you want a high-performance team, it’s up to

you to set the pace.”

What Each One Values

The first pace-setting step in building a

top-notch financial team is never forgetting

that your employees have a life outside

of the office. “Work/life balance is one of

the hottest employment issues today,” Mr.

Settersten acknowledged. “It’s very important

to be open and adaptive to new and different

circumstances, and provide your group with

a decent chance to achieve the balance they

crave and deserve.”

He suggested “role-modeling” examples

of work/life balance to demonstrate how

“it can be achieved without sacrificing on-

the-job duties and responsibilities.” This

could come in the form of flexible hours or

telecommuting options, he noted.

In addition, be aware of the generational

gaps in the workforce, and be sure to adapt

your style when appropriate. “Different folks

or groups value different things.”

Invest in the tools that can help your team

members blossom into high performers.

“You owe it to them to provide best-in-class

software tools” to help them become more

efficient and effective. “Maybe it’s the latest

tax software that makes the process easier,

giving folks more time to think about the

outcome rather than compiling all the data,”

he offered. “This will go a long way toward

making people feel like you’re investing in

them, that you’re concerned about their

BUSINESS DEVELOPMENT PARTNERS

CULTURE

SHIFT