Embracing Flexibility in Leadership Roles: A Skill Every CFO Needs 

Flexibility isn’t about being indecisive or chaotic. Instead, it’s the ability to adapt to challenges, consider new perspectives, and adjust plans while keeping the bigger picture in mind. As a CFO, mastering this skill can make you a more effective leader and help you guide your organisation through both turbulent and exciting times. 

What Does Flexibility in Leadership Look Like? 

Flexibility in leadership is a mix of mindset and action. It means being: 

• Open-minded: Willing to consider new ideas, even if they challenge traditional practices. 

• Adaptable: Quick to respond to unexpected changes or disruptions. 

• Empathetic: Understanding that people and situations are dynamic and require different approaches. 

For example, consider a scenario where your company faces a sudden cash flow issue due to market instability. A rigid approach might involve sticking to an existing budget and hoping the situation resolves itself. A flexible CFO, on the other hand, would explore multiple solutions like renegotiating with suppliers, revisiting payment terms with clients, or finding creative ways to optimise costs without compromising on key goals. 

Why Flexibility is Critical for CFOs 

The ability to adapt is no longer a “nice-to-have” skill—it’s a necessity. Here’s why: 

1. The Pace of Change is Unprecedented
   In today’s world, technologies evolve rapidly, markets shift overnight, and customer needs are constantly changing. A flexible leader is better equipped to keep up and pivot when required. 
2. Unexpected Challenges are the New Normal
   From global pandemics to economic downturns, unpredictable challenges are here to stay. Flexibility helps you navigate these disruptions without losing focus on long-term objectives. 
3. It Builds Stronger Teams
   Flexibility isn’t just about you as a leader—it’s about fostering a culture where your team feels empowered to innovate, problem-solve, and take ownership. 
4. Better Decisions Come from Flexibility
   When you’re open to new ideas and diverse perspectives, you make decisions that are more informed and balanced. 

How CFOs Can Develop Flexibility 

Building flexibility takes practice, but it’s a skill anyone can develop. Here are practical steps you can take: 

1. Be Open to Feedback

Encourage your team to share their ideas, even if they’re different from your own. Actively listen to their suggestions and consider how their insights can shape your strategies. 

For instance, if a team member suggests a new software tool to streamline financial reporting, take the time to evaluate it. Even if it’s not what you’re used to, it could save hours of manual work. 

2. Experiment and Learn

Flexibility doesn’t mean abandoning all structure. Instead, it’s about being willing to test new approaches on a small scale. 

For example, if you’re unsure whether a new budgeting method will work, try it with one department for a quarter. Monitor the results, gather feedback, and refine the approach before rolling it out company-wide. 

3. Plan for Multiple Scenarios

A rigid plan assumes one outcome, but flexible planning prepares you for many. Create contingency plans for best-case, worst-case, and middle-ground scenarios. 

Let’s say you’re projecting revenue growth for the next year. What happens if growth is slower than expected? Having a plan to adjust expenses or reallocate resources can make all the difference. 

4. Stay Calm Under Pressure

When unexpected challenges arise, flexibility starts with your mindset. Avoid reacting impulsively. Take a step back, assess the situation, and focus on actionable solutions. 

For example, if a significant project is delayed, instead of panicking or assigning blame, look for ways to shift resources or adjust timelines to minimise the impact. 

5. Encourage a Flexible Culture

As a leader, your mindset sets the tone for your team. Show them that flexibility is valued. This could mean hosting brainstorming sessions, encouraging cross-department collaboration, or celebrating innovative solutions. 

Real-Life Examples of Flexibility in Action 

1. Navigating Supply Chain Disruptions

Imagine a key supplier suddenly increases their prices due to global shortages. A rigid response might be to stick with them and absorb the costs, hurting your margins. A flexible approach could involve sourcing alternative suppliers, renegotiating contracts, or even exploring new markets. 

2. Adopting New Technologies

Let’s say your company’s traditional financial tools are no longer meeting your needs. Transitioning to cloud-based solutions or automation tools might seem daunting, but being open to these changes can improve efficiency and free up your team for higher-value tasks. 

3. Leading During a Crisis

During the COVID-19 pandemic, many businesses had to pivot quickly. Flexible CFOs found ways to cut costs without sacrificing core operations, implemented remote work solutions, and supported employees through uncertainty. 

The Benefits of Flexibility for CFOs 

By embracing flexibility, you’ll find that: 

• You make better decisions: With more options on the table, you can choose paths that align with your goals while adapting to current realities. 

• Your team trusts you more: Employees respect leaders who listen, adapt, and remain calm under pressure. 

• You future-proof your leadership: In a world that’s constantly changing, flexibility ensures you stay relevant and effective. 

Start Practicing Flexibility Today 

Flexibility isn’t something you master overnight, but small changes can lead to big results. Start by identifying one challenge you’re currently facing. Ask yourself: 

• What assumptions am I making about this problem? 

• Is there another way to approach it? 

• Who else could provide valuable insights? 

By taking a flexible approach, you’ll discover solutions that not only address the challenge but also set your organisation up for future success. 

In the constantly shifting currents of modern business, flexibility is not just a skill—it’s the anchor that keeps leaders grounded while navigating change. As a CFO, you have the opportunity to lead by example, showing your team—and your organisation—that adaptability is the key to thriving, no matter what comes your way.