CFOs primarily focused on cost control, market share

Recruitment, retention also priorities: Survey
|hrreporter.com|Last Updated: 04/16/2013

While cost control remains the primary focus for many financial executives, others also are looking to taking business from competitors, according to a survey by Robert Half Management Resources.

Eighty-five per cent of CFOs cited managing spending as a high priority in 2013, but close behind was capturing market share, which was reported as a main objective by 72 per cent of respondents.

"Many companies were forced to operate as lean as possible during the recession, and the finance function was required to closely manage resource allocations," said David King, Canadian president of Robert Half Management Resources. "CFOs don't want to be in a position where they have overspent and cannot respond to market changes, but they also are exploring ways to gain an edge over their competitors."

More than six in 10 (63 per cent) CFOs also noted recruitment/retention as a high priority, found the survey of more than 270 CFOs.

"Organizations are assessing their priorities in the face of often intensifying recruiting and retention challenges. CFOs can strengthen their teams and better leverage existing resources by bringing in interim or project staff, as needed, to assist with specific projects and manage workload peaks," he said.

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