CFOs as business leaders have been a recurring theme over the past few years, for obvious reasons. CFO‘s reports have enlightened, and studies and surveys have shown, the CFO is not only needed as a strategic leader within the organization, but increasingly aspires to fulfill this role.
Part of any company’s retention strategy for the C-suite is to consider the level of enjoyment and fulfillment employees get from their jobs. The CFO is no different and, based on the results of a Oracle NetSuite Survey released today, finds great satisfaction in the facets of this evolving role.
CFOs shared a high level of enjoyment in producing KPIs (45%), planning scenarios (51%), developing ROI projections (48%) and reviewing the end close of months. OK, maybe not the last.
The survey included 500 respondents – 96 CFOs and VPs of Finance and 156 non-financial business executives, 125 non-financial managers and 125 CFOs. Company size included those with sales up to $250 million.
One area of surprise concerns the CFO’s role as manager and coach. CFOs enjoy hosting finance team meetings (53% said they enjoy); however, when it comes to getting into actual management, 39% of CFOs say they only tolerate coaching from their finance team. When coaching line-of-business leaders to understand key metrics, 48% said they tolerated it.
Meanwhile, according to the survey, those who support the CFO and executive office – CFOs in particular – share this consistent view. They view their CFO as highly competent in functions such as finance and data analysis, but less so in soft skills such as communication, management and motivation.
The general agreement between CFOs and their executive staff is interesting and worth considering as the war for talent – recruitment, retention, job satisfaction – continue to be dominant themes in 2022.
Disclaimer: Oracle NetSuite is a sponsor of CFO.