The CFO'S Perspective

The Great Resignation – The Accelerated Evolution of Work

A prospective consultant told me that he loved what he did during a recent interview. He had been working up the ranks for a long time, continually added skills and experience, and was in a place of high trust and value to his organization. He shared with me that he loved his profession had excellent skills but was not interested in working 70 hours a week at this point in his life and career. He asked, "Were there other options?"

Topics: Trends Change Management

How Your CFO Can Manage Supply Chain Disruptions

Import shipping from Asia has become a nightmare. According to McKinsey & Company, shipping costs for a 40-foot container have increased over five-fold in 2021, from $2,000 per container to $13,000. Container ships that finally arrive on the West Coast often have to wait offshore for a dock to open to offload their cargo. Once unloaded, containers can spend days or weeks in the Port of Los Angeles, Port of Long Beach, or Port of Seattle until rescued by a truck or intermodal train.

Topics: Trends Planning Manufacturing

How Do I get My Accountant to Come Back to the Office?

Employers that want their employees back in the office again are asking themselves the question, “How do I get my employees to return to work?” However, many employees are asking their employers, “Why should I return to work?” in response.

The resulting dichotomy has created a sticky situation for companies that are facing labor shortages and revenue challenges well over a year and a half into this crisis. For key departments like accounting and finance, the pressure is further elevated because these kinds of skilled roles are a hot commodity right now, making them even harder to replace.

Topics: Trends Staffing HR Leadership Change Management Transition COVID-19

The Convergence of Accounting and HR

Companies that understand how finance and HR overlap and foster a relationship between the two are better poised for long-term growth than their less informed counterparts. The reason behind this is simple – knowing when and how to leverage your CFO to assist with hiring and employee retention can improve profit margins, encouraging sustainable long-term growth. Additionally, encouraging collaboration between these two vital areas of the business improves workplace culture across the entire organization.

Topics: Recruiting Finance Accounting Trends Hiring Planning HR Leadership Budgeting Forecasting Strategy

What are the Benefits of Business Process Outsourcing?

Business process outsourcing (BPO) allows CEOs to focus on the job of running the entire business instead of getting bogged down with the management of individual departments and teams.

Effective outsourcing allows both large and small companies alike to lean on senior skillsets outside of the company to provide accurate information, offer impartial feedback, and inform strategic decision making.

In fact, according to a recent Intuit study, 65% of business owners surveyed said they would be “better positioned for long-term growth if they could take a step back and look at the bigger picture.” These business owners also reported that they were involved in areas of the company such as sales, marketing, customer service, human resources, and accounting, instead of outsourcing them. It is no coincidence that these activities were taking away from their ability to focus on their core business functions. When they were asked what they should be spending their time on instead, their top answers included developing business strategy, making an impact on customers directly, and innovating product/service offerings.

Business process outsourcing allows business owners and CEOs to utilize highly experienced professionals without needing to hire internally, both managing costs and improving business agility. Furthermore, outsourcing allows business leaders to reduce stress, lessening the likelihood of executive burnout.

Topics: Recruiting Trends Planning Cash Flow Leadership Growth Budgeting Strategy