Grooming Next-Gen Finance Leaders
Companies should ensure that they have equal resources available for all and equal voice representation for the entire workforce at all forums, said Anand Agarwal, CFO, V-Mart Retail, on Friday.
He added that cultural diversity and inclusiveness are acquiring far more prominence and relevance than they did 5-10 years ago.
"More empathy and opportunities are required in organisations where you can allow multiple types, teams, geography, and regions to be represented on equal footing," Agarwal said while speaking at BW CFO World's Finance Leadership & Strategy Summit 2023.
On the use of Artificial Intelligence (AI), Milind Joshi, Chief Financial & Strategy Officer, Maximus International, said, "We're rapidly moving to AI; maybe in the future, the business processes will be automated using AI. So, now the decision-making part would also be taken care of by AI. Only subjective decisions based on professional judgements will be left to the finance desk."
Joshi advises the next generation to catch pace with the latest technologies.
According to Siddharth Khaitan, CFO, ESME Consumer, our present quickly becomes our past in ever-changing times.
"We saw that computers were introduced, and people began using them. Now, it's almost as if it's a given; we discussed how technology today becomes yesterday as we move so quickly," he explained.
It is critical to hire the right individuals who understand what the next generation is talking about, Khaitan added.
Additionally, Mahendra Lodha, CFO, Bloomsbury Publishing India, discussed organisational diversity and how senior executives may contribute to the organisation.
"We maintain the generation part very crucially. We want to keep the elderly as mentors. They're not great with technology, but they're great at what they do," he said.
"We keep mentorship workshops for younger individuals. When recruiting people, we try to keep gender, geography, and age in mind," Lodha added.
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