More than just finance staffers are reporting directly to a company’s CFO.
In the ever-expanding role of finance chief, more CFOs are now expected to delve into the world of HR.
It’s a trend that has jumped recently — possibly because of the current regulatory environment.
Because HR has moved from its role as a cost center to emphasizing measurements and cost-benefit analyses, the shift makes sense.
In a best case scenario, the pairing brings together a CFO’s bottom-line centered mentality with HR pros’ softer skills and creates a department that is cost-effective and centered on employee development.
But companies have run into problems when CFOs attempt to run HR exactly like finance, ignoring everything but the numbers. This often pushes employee development to the wayside.
Successful companies have avoided these problems by pushing finance chiefs to get training in HR-related skills like communication, negotiation, etc.