Trend #5: CFOs see turnover as a roadblock
Earlier this year, we polled 252 financial and accounting decision makers to determine what major trends they see emerging that will affect the corporate finance function. In this seven-part blog series, we'll examine each of these developments.
Whether being a strategic partner or improving processes in their areas, CFOs see high staff turnover as the top barrier to achieving key goals. That response was consistent across company sizes.
This trend is likely driven by the improving economy. Past research, however, shows that “job drudgery” also leads to high turnover. Finance groups with efficient processes that allow for analysis and value-added activities generally have lower turnover. Those with inefficient processes – and who, as a result, spend the majority of time managing the processes and data – have higher turnover.
Check back next week for the next of the seven trends.