Business leaders continue to deal with the consequences of a seemingly endless pandemic – managing remote working challenges, mounting inflation, supply chain shortages. The shifting priorities at the top are also creating a change for CFOs, who now need to expand their breadth of responsibility.
Employee retention
People are rethinking their jobs and reevaluating what’s most important to them. All that self-reflection has created what many are calling “The Great Resignation.” CFOs need to focus on helping their organizations address the significant talent and labor shortage. Wage increases, incentives, and developing and upskilling current employees will prove to be the best tactics for staying well-staffed this year.
Financial performance
Whether a company is struggling or prospering, a CFO must always consider how to increase earnings. A healthy bottom line can either enable a company to withstand a crisis or expand its business. CFOs must consider a range of measures to improve financial performance, specifically increasing prices, decreasing expenses, increasing efficiencies, and managing profitability.
Growth
Growth is always a priority in business, but never more so than now. Many companies and industries have flourished since the start of the pandemic, but many more have stalled or shrunk. The CFO must take a leading role in creating growth opportunities by generating more revenue, increasing sales, and pursuing organic growth, new business, and alternative revenue sources.
It’s critical for CFOs to focus on these issues to help their organizations prepare for the year to come. Are you confident your current team can help bring you success? Miami CFO has the executive-level financial team and financial perspective to understand what’s critical in today’s business climate. Use this link to schedule a meeting and review your 2022 plan today:https://calendly.com/miami-cfo.
Recent Comments