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For Immediate Release
July 17, 2008
BUILDING CAPITAL
Survey: CFOs Cite Greater
Focus On Profitability In Last Five Years
MENLO PARK, CA -- Finance executives have shifted
their attention from corporate governance initiatives to
the bottom line, a new survey suggests. One in four
(25 percent) chief financial officers
(CFOs) surveyed said the most significant change in
their roles over the past five years is a greater focus
on increasing profitability. One in five (20
percent) respondents indicated they are now
interacting with colleagues in other departments more
frequently.
The survey was developed by Robert Half Management
Resources, the premier provider of senior-level
accounting and finance professionals on a project and
interim basis, and conducted by an independent research
firm. It was based on telephone interviews with more
than 1,400 CFOs across the United States.
CFOs were asked, “In which one of the
following areas has the role of CFO changed most
significantly over the last five years?” Their
responses:
| Greater focus on increasing
profitability |
|
25% |
| Increased interaction with other
departments |
|
20% |
| Expanded leadership or management role |
|
17% |
| More strategic planning |
|
15% |
| Increased focus on corporate governance
initiatives |
|
12% |
| None/don’t know |
|
10% |
| Other/refused |
|
1% |
| |
|
100% |
“Given today’s transitioning economy, CFOs are
reprioritizing initiatives to drive profits and reduce
expenses,” said Paul McDonald, executive director of
Robert Half Management Resources. “Companies are looking
to expand growth areas and minimize inefficiencies.”
McDonald also noted that financial executives are
working more closely with decision-makers throughout all
levels of the company. “The accounting and finance
functions play a prominent role in business; the CFO is
in a unique position to guide strategic planning and
risk management decisions affecting diverse and
wide-ranging areas of the business.”
About the Survey
The national
study was developed by Robert Half Management Resources.
It was conducted by an independent research firm and is
based on more than 1,400 telephone interviews with CFOs
from a random sample of U.S. companies with 20 or more
employees. For the study to be statistically
representative and ensure that companies from all
segments are represented, the sample was stratified by
geographic region and employee size. The results were
then weighted to reflect the proper proportions of
employee size within each region.
About Robert Half Management
Resources
Robert Half Management Resources
has more than 140 locations worldwide and offers online
job search services at
www.roberthalfmr.com.
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