As a middle market CFO, one aspect of my past experience at large corporations that I miss is the ability to develop talent throughout the accounting and finance team through job swapping and promoting from within. In fast growing middle market businesses, there is ample opportunity for career development, but it stems from the growth of the company and the need for each person to wear multiple hats. In larger corporations, you need to rotate people through different positions to diversify their skills, improve operations and prevent boredom. In middle market companies, it’s not as easy or as necessary, but that doesn’t mean you shouldn’t do it.
If there aren’t enough positions within your accounting and finance team to make it happen, consider temporary job swaps with other departments. Your financial folks might bring a new perspective to the sales or operations divisions and vice versa. It will promote better teamwork, develop your talent pool and keep people engaged, just like it does at large corporations.