A 'HEALTHY' BOTTOM LINE
Healthcare Costs, Improving Profitability Among Top CFO Concerns, Finds Robert Half Management Resources Survey
MENLO PARK, CA, May 20 -- Financial executives have many issues on their minds, but curbing rising healthcare costs and keeping other expenses in check top the list, a new survey from Robert Half Management Resources shows. Forty-seven percent of chief financial officers (CFOs) interviewed said the rising cost of healthcare is one of their three most pressing concerns. A nearly equal number (46 percent) cited controlling costs and improving profitability as a chief worry.
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 is based on interviews with more than 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees.
CFOs were asked, "Which of the following are your three biggest concerns as CFO?" Their responses*:
|Rising cost of healthcare||47%|
|Controlling costs and improving profitability||46%|
|Cash flow management and debt/equity financing||33%|
|Establishing and maintaining internal control over operations||24%|
|Staff recruitment, training, and retention||23%|
|Creating and maintaining a strong technology infrastructure||23%|
|Managing financial statement preparation and auditor relations||12%|
|Mergers and acquisitions||6%|
"A top priority for many firms in a slowly improving economy is a stepped-up focus on containing costs," said Paul McDonald, executive director of Robert Half Management Resources. "Of particular concern to companies are healthcare-related expenses and the possible impact of recent healthcare reform on their business."
McDonald added, "Although firms must closely monitor expenses, they also need to be prepared to take advantage of emerging growth opportunities by making targeted investments. Chief among these are efforts to strengthen their employee teams and ensure they have the right people in place to respond to rising customer demand."
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 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 on Twitter at twitter.com/RobertHalfMR.