What Keeps CFOs Up at Night?

January 24, 20178:20 am448 views

Being in charge of the financial well-being of a company is, on its own, a big responsibility. With expectations continuously mounting as the role of the CFO evolves, it can become increasingly difficult to leave work at the office.

New research from Robert Half Finance & Accounting shows the biggest work challenges for CFOs are anxieties around their own performance on the job and the pressure to find and hire good employees.

Greg Scileppi, president of Robert Half, International Staffing Operations thinks, “The key to mitigating sleepless nights as a CFO is in having confidence that projects at work are taken care of, which starts with good business practices and establishing a strong support system of talented professionals.”

With a carefully designed and strong team, executives can ensure that initiatives are running smoothly, freeing them up to focus on new opportunities for business growth and success.

See: Role of CFO Evolves in Future to Be Called ‘Chief Performance Officer’what keeps CFOs up at night

Here are top five tips for CFOs to rest easier and mitigate work challenges easily:

  1. Address issues as they arise. Workplace conflicts only get worse when ignored and avoided.
  2. Set goals and timelines. Make the results you need to see from your staff clear, with deadlines and expected outcomes.
  3. Recognize your team. Different people respond to varied motivational techniques, but everyone likes to hear when they’re doing a good job. Don’t hold back on genuine praise.
  4. Evaluate your hiring strategy. In addition to having the necessary skill sets and fitting in with the corporate culture, great employees share a few qualities, including a can-do attitude, right-sized ego and sense of humour. Periodically refresh your recruiting plan to ensure you’re attracting the right people.
  5. Drive employee acquisition and retention. Finding skilled professionals when you need them can be stressful. But if you nurture a talent pipeline year-round, you’ll be better equipped for the future.

“The daily stressors that CFOs face at the office often follow them home,” said Paul McDonald, senior executive director at Robert Half. “Most employees have lost sleep over work worries, but financial executives have the added responsibility of making sure everyone – including themselves – is performing up to par.”

McDonald added, “One way to limit stress and help ensure a good night’s sleep is recruiting the right people. Luckily, employers don’t have to go it alone. A specialised recruiting firm can assess a company’s business needs and streamline the hiring process.”

Also read: 6 Simple Strategies to Reduce Stress at Work

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