Thanks to skyrocketing health costs, tighter financial regs and unstable economic conditions, finance chiefs are facing an unprecedented set of demands today.
A recent Robert Half Management Resources study found that 80% of CFOs believe it’s more difficult to be a company leader today than it was just five years ago.
The study asked around 1,400 chief finance officers of U.S. companies with 20 or more workers the following question: “Do you think it’s more or less challenging to be a company leader in today’s business environment versus five years ago?” Here’s how your peers responded:
- 50% said it was somewhat more challenging
- 31% said it was significantly more challenging
- 14% said there was no change
- 3% said it was somewhat less challenging
- 1% said it was much less challenging, and
- 1% said they didn’t know.
So how are finance chiefs responding to the increasing challenges? The study found that more CFOs are bringing in consultants to help them tackle critical tasks.