Ken Hodgkins, the CFO of Metro Testing + Engineering, is known for his financial precision in the AEC industry. Recently, he shared a personal story about making a mistake in an Excel sheet, which caused him great distress. Despite his pride in his Excel skills, he realized that errors are a part of the learning process for everyone. Hodgkins emphasized the importance of owning up to mistakes and quickly addressing them to minimize their impact.
Hodgkins compared errors to a dirty diaper, humorously noting that the longer you ignore them, the worse they become. He shared advice from one of his previous CFOs about the importance of confronting mistakes head-on and immediately informing the right person about the issue. Hodgkins explained his own process for dealing with mistakes, which involves double-checking the error, communicating with impacted parties, and devising a plan to rectify the situation. This approach allows him to address the problem efficiently and effectively.
The CFO stressed the importance of communicating quickly about potential issues, whether it be through a simple message or email. By doing so, Hodgkins believes that it provides a chance to understand the impact of the error and emotionally gather oneself before addressing the problem. He also highlighted the value of coming back with a solution, rather than just apologizing for the mistake. Hodgkins encourages others in leadership roles to coach their team members on how to handle mistakes in a similar manner to empower them to take ownership and responsibility.
In his role as CFO, Hodgkins often finds himself receiving bad news, which has led him to advocate for a measured approach to handling mistakes. He emphasized the importance of not becoming a collector of other people’s mistakes and instead, helping team members take ownership of their errors. Hodgkins believes that over time, repeated errors can damage credibility, so it is crucial to address mistakes calmly and thoughtfully to minimize their impact. By taking a proactive and strategic approach to addressing errors, organizations can maintain their credibility and trustworthiness.
Hodgkins’ insights and experiences resonate with many professionals in the finance and accounting industry, as evidenced by his participation in the Forbes Finance Council. The organization, which is exclusive to executives in successful financial firms, recognizes the value of learning from mistakes and implementing a structured approach to handling errors. By sharing his personal story and advice on dealing with mistakes, Hodgkins has provided a valuable perspective on how to navigate challenges and setbacks in the financial sector with professionalism and resilience.
