CFOs Swap Fire-fighting for GrowthBy Robert Half, PRNE
Monday, November 29, 2010
CFOs Spending More Time on Strategic Initiatives to Drive Growth
LONDON, November 30, 2010 - CFOs are spending more time focusing on business strategy, rather than
addressing business challenges, a new survey finds. Nearly four in 10 (37%)
respondents are spending more than half of their time on planning business
strategy, compared to only 4 per cent last year, a substantial increase of 33
per cent. Furthermore, only 1 per cent of CFOs said they dedicated no time at
all, down from 17 per cent recorded in 2009, suggesting companies are not
only more confident about the economic outlook but are in fact implementing
strategic plans to drive growth.
The survey, developed by Robert Half, a leading provider of specialised
recruitment services, was conducted by an independent research firm and is
based on interviews with more than 200 CFOs at companies throughout the UK.
CFOs were asked, "How much of your time would you say is currently
devoted to planning your business strategy?" Their responses:
2009 2010 More than 75% of time 0% 2% 51% to 75% of your time 4% 37% 26% to 50% of your time 42% 41% 25% or less of your time 39% 18% None of your time 17% 1%*
* Survey does not add to 100 due to rounding
"These are encouraging signs for UK businesses and the economy as a
whole. It indicates that finance leaders are more concerned about managing
growth and are devoting a significant amount of their day on ways to augment
their organisation and its profitability," said Phil Sheridan, Managing
Director of Robert Half UK.
Sheridan adds, "There are a number of ways businesses can invest
strategically for expected growth and increased demand. Consider making new,
targeted hires to broaden the skill set and expertise of your existing talent
bench. Temporary and interim professionals can also help manage workloads and
growth initiatives while companies plan for permanent hires."
About the Survey
The national study was developed by Robert Half, a leading provider of
highly skilled professionals on a temporary, interim and permanent basis. It
was conducted by an independent research firm and is based on more than 200
telephone interviews with CFOs from a random sample of UK companies. For the
study to be statistically representative and ensure that companies from all
segments were represented, the sample was stratified by geographic region and
number of employees.
A white paper based on the study results entitled, "Looking Ahead: New
Challenges, New Priorities for UK CFOs" is available for download here. The
paper provides an in-depth study of the issues facing UK CFOs.
About Robert Half
Robert Half pioneered specialised staffing services and today is the
world's leader in the field. Founded in 1948, the company is traded on the
New York Stock Exchange (symbol: RHI) and operates five separate divisions in
the UK, each serving distinct markets. They include: Robert Half Finance &
Accounting and Robert Half Management Resources, for temporary, full-time and
project professionals, respectively, in the fields of accounting and finance;
OfficeTeam, for administrative support, Robert Half Financial Services Group,
for finance and banking professionals and Robert Half Technology, for IT
There are more than 350 Robert Half locations in North America, South
America, Europe and the Asia-Pacific region. For more information about
Robert Half please visit: www.roberthalf.co.uk
Phil Sheridan, Managing Director of Robert Half, is available for further comment. In order to arrange an interview, please contact Kristie Perrotte on +44(0)20-7331-2222 or email kristie.perrotte at rhi.net.
Tags: London, November 30, Robert Half, United Kingdom