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Survey Shows Increasing Productivity Top Challenge For New Financial Managers

MENLO PARK, CA -- There is no performance grace period for the president-elect in his first 100 days, nor for new financial managers, who are expected to produce results immediately, a new survey suggests. Nearly one-third (30 percent) of chief financial officers (CFOs) interviewed cited increasing productivity as the top challenge faced in their first 100 days on the job. Boosting profitability was the second most common response, cited by one in five (20 percent) executives.

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, “Which one of the following was the greatest challenge you faced in your first 100 days in your current position?” Their responses:

Increasing productivity   30%
Increasing profitability   20%
Personnel decisions, such as hiring or staff reductions     13%
Building rapport with new staff   13%
Building rapport with your CEO   8%
None   9%
Other/don't know     7%
    100%

“New financial managers need to make an immediate impact,” said Paul McDonald, executive director of Robert Half Management Resources. “In today’s economy, especially, executives may have less time to prove themselves and are expected to demonstrate tangible results.”

McDonald noted that while just 13 percent of CFOs cited building rapport with staff as their top priority, managers should not overlook this critical step. “A creative and motivated team is essential to enhanced productivity. Corporate leaders need to connect with their employees and understand what motivates them to perform at their highest levels.”

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 has more than 150 locations worldwide and offers online job search services at www.roberthalfmr.com.

 

 

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