When selecting your company's next Chief Financial Officer, it is sometimes impossible to ignore the concerns others in this position deal with every day. Grant Thornton LLP recently announced the results of its 2015 Summer CFO Survey, which looked at some of the general concerns these finance professionals have, which could impact the strategies they choose for mitigating them within their own businesses. These pain points may also show the importance of prioritizing CFO competencies in these problem areas.
Some of the concerns reflect general problems that other executives will likely need to acknowledge as well. For example, the survey found that 57 percent of the 912 CFOs surveyed are most worried about the damaging potential of undetected security breaches, something that might also concern a company's CSO and spark collaboration on a plan for solving it, if not a solution.
However, the largest concern for surveyed CFOs was general "uncertainty in the U.S. economy," although the source notes that 43 percent of CFOs believe the economy will improve within a year, just 12 percent lower than the number of CFOs worried about conditions.
Other related issues include worries over finding new talent. According to a press release on the survey's featured findings, 70 percent of CFOs believe "finding and retaining the right talent is a critical need for supporting growth," with 40 percent looking to increase hiring throughout the rest of the year.
CFOs don't exist in a vacuum, and a global executive search method that takes serious position-related concerns into account might help businesses find the particular talent and expertise required for success.
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