The CFO'S Perspective

Why Tech Skills are Essential for Today’s CFOs

Today’s top CFOs are vastly different than their predecessors because the CFO role itself has changed so dramatically over the last few decades. What used to be a strictly numbers-based executive financial role, has now evolved into a pivotal leadership position that touches numerous areas of the company including HR, IT, operations, manufacturing, sales, and marketing. And this sweeping change has ushered in a shift in what is expected of a CFO’s skillset as well.

The most salient difference is how today’s CFOs are required to utilize technology. CFOs are expected to be well versed in technology options for streamlining operations, meeting business needs, informing strategic decision making, and maximizing growth. As a result, tech proficiency has become the single most newly sought after skill when hiring a new CFO.

Topics: Recruiting Trends CFO Hiring CFO Responsibilities

How to Win the Talent War in Accounting and Finance

The war for talent that emerged amid The Great Resignation is still going strong in the areas of accounting and finance. As Hannah Green explains,

“The accounting sector has a problem with numbers. Specifically, it’s becoming harder and harder for firms to attract top talent. Why? There just aren’t enough talented bodies to go around. In what’s come to be known as the ‘war for talent’, top firms are finding it increasingly difficult to secure and retain highly qualified finance and accounting professionals.”

Topics: Recruiting Finance Accounting Hiring Staffing HR

What to do Before Hiring a CFO

We came across a recent McKinsey article that provided advice for new CFOs on how to succeed in their first 100 days. Their premise was:

“In recent years, CFOs have assumed increasingly complex, strategic roles focused on driving the creation of value across the entire business. Growing shareholder expectations and activism, more intense M&A, mounting regulatory scrutiny over corporate conduct and compliance, and evolving expectations for the finance function have put CFOs in the middle of many corporate decisions—and made them more directly accountable for the performance of companies. Not only is the job more complicated, but a lot of CFOs are new at it—turnover in 2006 for Fortune 500 companies was estimated at 13 percent. Compounding the pressures, companies are also more likely to reach outside the organization to recruit new CFOs, who may therefore have to learn a new industry as well as a new role.”

And while we agree with this assessment, we feel that it leaves out an important piece of the puzzle: organizational support.

Topics: Recruiting Search Services CFO HR

How Much Will Raises Be This Year?

With so much economic uncertainty the employment landscape in 2022 will likely remain tumultuous. Information about how many people are employed, where, and for how much is going to continue to dominate the business news headlines. And much like last year, compensation will be at the forefront of many employees’ minds as they watch their cost of living increase and worry whether their pay will keep pace.

Of course, for the nation’s unemployed, discussions about how compensation may fluctuate this year remain inconsequential. And for small businesses that have been doing their best to absorb rising costs without laying people off or shutting down, the idea of giving raises this year is likely going to be a moot point. But for middle management, executive leadership, and HR personnel at mid-sized to large companies, the question of what to expect in the way of raises remains critical to business planning.

So, what should you plan for a raise this year?

Topics: Recruiting Economic Trends Hiring Planning Staffing Financial Projections HR Budgeting Forecasting Expenses Salaries

The Difference Between Retained and Contingent Search

When you need to fill a leadership position, who can help find the right candidate for the role?

Recruiting companies fall into one of two camps, either retained search or contingent search firms. Understanding how these approaches differ is key in determining which is a better fit for your hiring needs.

Over the last 15 years, we have worked with more than 2,000 consulting and search clients, placing CFOs at companies spanning a wide variety of industries. In that time, we have evaluated innumerable recruitment prospects, giving us unique perspective into the types of questions, misconceptions, and concerns that arise during the hiring process. The most common questions we hear are regarding the nature of retained search as prospective clients try to determine what kind of recruiting firm is going to be best for their open role.

Topics: Recruiting Search Services Hiring Staffing Interim CFO