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Robert Half Management Resources Survey: CFOs Would Hand Off Administrative Duties First

MENLO PARK, CA, Oct. 28, 2010 -- No job is too small for finance executives, a new Robert Half Management Resources survey suggests. But if chief financial officers (CFOs) could get one thing off their plates, it would be administrative tasks. More than one-third (38 percent) of CFOs interviewed said that if they could eliminate one responsibility, it would be basic clerical and administrative work.

The survey was developed by Robert Half Management Resources, the world's premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 795 CFOs from a stratified random sample of U.S. companies with 20 or more employees.

CFOs were asked, "If there was one responsibility you could hand off from your job, what would it be?" Their responses:

Basic clerical/administrative

38%

 

Accounting-related

19%

 

Human resources-related

14%

 

Managing

7%

 

Operations-related

3%

 

Interactions with vendors

1%

 

Nothing

8%

 

Other

10%

 

 

100%

 
   

"Today's need to 'do more with less' extends to all levels of the organization," said Paul McDonald, senior executive director of Robert Half Management Resources. "At small and midsize companies, in particular, this often means financial executives have had to take on tasks once handled by others. The demands of the current economic environment make it even more essential for senior-level managers to use their time wisely."

Robert Half Management Resources offers executives six tips for maximizing their time:

  1. Set realistic expectations. High standards are a must, but setting impractical goals can cause frustration and waste valuable time. When initiating a project, consider what you would like to achieve if resources and time were unlimited. Then determine what can reasonably be accomplished considering available resources and other priorities.
  2. Don't procrastinate. It's tempting to postpone less challenging assignments for more exciting initiatives, but it can backfire if projects start to stack up. Procrastination strains working relationships and creates unnecessary stress as everyone strives to catch up.
  3. Delegate. Distribute more routine tasks to other staff members. Look for opportunities that allow your top performers to gain visibility and build their expertise and decision-making skills.
  4. Keep meetings on track. Distribute a detailed agenda prior to the discussion so everyone is prepared. Meetings should begin and end on time. If information can easily be covered in e-mail or phone, a meeting may not be warranted.
  5. Bring in help. If you and your team are overloaded, consider bringing in outside support during peak activity periods or for large-scale initiatives that are finite in nature.
  6. Recharge. Financial executives are accustomed to long hours and demanding work, but that doesn't mean they should sacrifice breaks and vacation. Scheduling time for even a short respite can restore energy and a sense of control.
     

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 795 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 were represented, the sample was stratified by geographic region and number of employees. The results were then weighted to reflect the proper proportion of employees within each region.

About Robert Half Management Resources
Robert Half Management Resources is the premier provider of senior-level accounting and finance professionals to supplement companies' project and interim staffing needs. The company has more than 145 locations worldwide and offers online job search services at www.roberthalfmr.com. Follow Robert Half Management Resources at twitter.com/roberthalfmr for workplace news.


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