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Third of CFOs think their teams lack time to complete work

CFOS ARE BLAMING a lack of time in the day as the reason their finance teams are unable to complete job tasks.

More than a third (35%) of CFOs said they were concerned about the lack of time their teams have to complete work and projects, according to Robert Half UK survey.

Out of the 200 finance directors that participated nearly a quarter (24%) said that a skills shortage exists in their teams and that many are now turning towards interim staff to complete projects.

When asked what has a negative aspect on the business lack of time rated highest (35%), inadequate commercial skills second (24%) and lack of permanent employees to complete projects as joint third (21%) with lock of cross-departmental collaboration (21%).

Robert Half managing director Phil Sheridan (pictured) said: “The role of the CFO is vitally important as they are increasingly required to provide strategic guidance and commercial leadership in addition to traditional financial management and accounting.

When business critical tasks are being neglected due to a lack of time by finance teams, alternative measures need to be explored. Whether to provide support for daily tasks or leverage niche skill sets for technical projects, many CFOs are drafting in extra support from temporary and interim workers to help fill the skills gap.”

Nearly four in ten CFOs (38%) plan to improve internal communications in order to help the finance function extend influence and understand the organisation.

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