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Executive Trends in Finance
Our Page Executive Eight Executive Trends explain that today’s CFO is much more than a number cruncher and analyst. As digitalisation and automation reshape the working environment, new skills have become increasingly important, in some cases nudging the harder edge of technical prowess to the side.
CFOs are being summoned to build trust throughout the organisation. Their transformative efforts are a unifying force between the market and the C-suite.
I have seen this shift firsthand, particularly in these tumultuous times. As boards become more streamlined, the CFO role that we recruit for has broadened.
A lot of businesses this year have sought CFOs with a wider skill set, including strategic planning and storytelling, alongside a heightened sense of tech prowess and a company-wide vision to fill that vacuum.
EXPECTATIONS HAVE CHANGED
Companies today are looking for more from the finance function: they expect someone with a wide base of core competencies. The modern CFO is expected to be a commercially aware business leader who will help define strategy and drive the performance of an organisation. Certain parts of the CFO role are still a given, but it’s their responsibilities outside of the core finance, control, and compliance aspects that differentiate an average CFO from a good or a great one.
THE CFO THAT EVERYONE IS LOOKING FOR
Organisations today are in constant states of flux. They must adapt to the times and any change-maker with a solid track record is ‘gold dust’. Someone that has experience and can deliver genuine transformation or change, whether as an interim or as a CFO, will find the world their oyster. Quite a turnaround considering finance was previously the function that wanted the status quo to remain.
HOW WE SEARCH FOR CFOS
Additionally, there is a major focus on increasing the diversity of finance departments in terms of ethnic background, as well as gender balance at the top level, where the ratio is typically 80/20 and it is not unusual for CFOs to have leadership teams with no women. Something that we are proud to be a part of and improve upon with each recruitment project.
Click the banner to read insights from our finance practice partners from around the world where they share their observations about the trends in finance this year and what you should keep in mind for the future.
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