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Case Study: Finance Training & Development at Medtronic

Financial Executives International TV

Medtronic, Inc.
Thomas M. Tefft Vice President and Controller

Runtime: 8:30

Key Takeaways:

  1. More than 1,100 of Medtronic’s 40,000 employees are in the finance function. Approximately 40 employees were involved in developing the training program.
  2. Medtronic finance employees were divided into three waves. Over an 18-month period, each wave attended a week-long training session at the company’s headquarters.
  3. Finance employees were required to take a core set of classes on business partnering and then chose from 30 different electives.
  4. Key Learnings:
    • Benchmark finance training and development programs and talk to other companies that have done it.
    • Don’t try to boil the ocean all at once. Take a step forward, get a success and then build on it.
    • Assign a finance leader to sponsor and be actively engaged in each training class.

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