The CFOs Have Spoken: New Research from Jefferson Wells Finds Digitization, Talent Attraction and Cybersecurity Are Keeping Finance Leaders Up At Night
On Oct. 13, 2022, Jefferson Wells released its 2022 CFO Priorities Survey, revealing the top concerns of over 200 CFOs in the U.S. The survey indicated that digitization, talent retention, and cybersecurity are key priorities. Notably, 35% of CFOs ranked cybersecurity as their primary concern, with 60% actively involved in their company's cyber risk strategies. The survey also highlighted that 57% of CFOs anticipate a hybrid workforce and face challenges in maintaining corporate culture and team communication.
- Over 60% of CFOs are involved in cyber risk strategies.
- 57% expect remote work to continue, indicating adaptability.
- 55% expect technology investments to enhance efficiency.
- 34% lack a solution for cybersecurity regulation compliance.
- 40% do not anticipate cost savings from technology investments.
MILWAUKEE, Oct. 13, 2022 /PRNewswire/ -- Digitization and transformation, the need to attract and retain the best talent, and the battle against cyberattacks are the top business concerns for Chief Financial Officers (CFOs), according to Jefferson Wells' new 2022 CFO Priorities Survey. The inaugural survey from the Finance & Accounting, Internal Audit, Risk & Compliance, and Tax specialists, part of ManpowerGroup (NYSE: MAN) asked more than 200 CFOs in the United States to share their top concerns and priorities for the months ahead.
"In an era of rapid transformation, increased cyber threats, talent shortages, and changing regulatory & compliance, CFOs have more on their minds than ever before" said Michelle Search, Jefferson Wells' National Practice Leader, Finance & Accounting. "The role of the CFO is becoming broader and more complex – from talent attraction and retention to staying on top of fast evolving ESG reporting requirements. Being a successful leader in finance now is less about what you know, and more about developing the right team to drive progress and adapt to a fast-changing environment. The best CFOs will continually expand their own skills and deepen the strength of those around them to be successful."
- Cybersecurity is a CFO Concern – Over
35% say this is the highest cause for concern and60% are deeply involved in their company's cyber risk strategy and response. While most CFOs are confident in their company's cybersecurity strategy,34% don't have an existing solution to comply with cybersecurity regulations; among these without a solution,85% of CFOs are confident they can prevent cyber-attacks. - Making Remote Work, Work, is a Top Priority – CFOs plan to improve their corporate culture with people management and investment.
57% expect their workforce to work remotely to some extent over the next year. Maintaining corporate culture (63% ) and team communications (62% ) are their biggest challenges. - Technology – Help and Hindrance for CFOs – CFOs are implementing technology to boost collaboration and efficiency but are hindered by legacy systems.
55% expect that the investment in technology will lead to greater efficiency and50% to improved collaboration.40% are not expecting to see cost savings or a competitive advantage.
"CFOs and their teams are at the forefront of transformation initiatives and ESG reporting" said ManpowerGroup Chief Financial Officer Jack McGinnis. "The pandemic has taken the definition of risk and resilience to new levels too. This report demonstrates the breadth of areas the CFO impacts, and highlights that being stewards of a responsible and successful business today, while steering towards an even more sustainable and digital tomorrow has never been more important."
Methodology: Throughout the summer Jefferson Wells asked 200 CFOs to share insights into the priorities of their role and their organizations. The results are a tool for their peers as they plan, prioritize, and execute plans for the remainder of 2022 and into the new year.
For the complete 2022 CFO Priorities Survey results, visit: CFO Priorities Survey Report 2022.
Jefferson Wells is a professional services firm delivering solutions in Finance & Accounting, Internal Audit, Risk & Compliance, and Tax. We provide project solutions, thought leadership, integrated resourcing, and executive search. Jefferson Wells is part of the ManpowerGroup family of companies.
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2022 ManpowerGroup was named one of the World's Most Ethical Companies for the 13th year – all confirming our position as the brand of choice for in-demand talent.
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SOURCE ManpowerGroup
FAQ
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