It is a brave new world! Certified Construction Financial Industry Professional (CCIFP) Certification is now under the CFMA umbrella, and the future is bright. As we seek to strengthen and expand the reach of the CCIFP credential, the strategic CFM must look to Certification as a critical component to their individual and corporate success.
Here are four keys to implementing a successful certification strategy to help strengthen and support you, the strategic CFM.
Get Certified
Strategic CFMs lead by example, and nothing says that you are committed to the industry and profession more than becoming a CCIFP. This designation enhances the image and demonstrates the skills required to do the job at a high level.
Promote Certification Within Your Financial Department
Your controller, cost accountants, and other financial team members should follow your lead and consider Certification as a pathway to promotion, wage increases, and career advancement. If you educate, coach, and promote the benefits of Certification, you will strengthen your team. With a stronger team, the strategic CFM elevates their game.
Require Professional Certification From Outside Consultants
Nothing says “I understand your business” more than having earned the CCIFP designation. Your CPA/accountants, bank, surety, and insurance firms should have CCIFP team members on your engagement. You can counsel them on the benefits to their respective firms and, ultimately, their service to you and other clients. When seeking service providers, ask “How many of your staff are CCIFPs?”
Hire New Team Members
When hiring new financial professional team members, advertise, give preference to, and even consider requiring CCIFP Certification as a skill set. At a minimum, discuss Certification benefits to the applicant, and get a willingness or buy-in from them to earn the CCIFP designation. Advancement in the company, pay increases, and bonuses can be tied to that goal and achievement timeline.
The strategic CFM who is looking to grow their own skills as a financial professional and become a leader within their company can implement these four key tactics to help enhance and improve the internal workings and service of the finance department along with service provides that support their company. There are many examples of companies that have implemented these strategies in positive and meaningful ways across our CFMA family. Work your network and find them; they can provide a road map to success.
Copyright © 2021 by the Construction Financial Management Association (CFMA). All rights reserved. This article first appeared in May/June 2021 CFMA Building Profits magazine.