The world is struggling with the effects of the coronavirus pandemic. This serves as a channel to change the roles of the CFO. The strategy to get back to work was hindered by the pandemic variants and handling hybrid. Remote employees became a stable plan. Leaders are still battling global concerns like building inflation pressure, climate change, economic and social problems in this global phase.
CFOs are looking into creating new paths for business innovation and paving the way for future growth. Gary McGaghey, an internationally recognized CFO, notes that with the change in regulatory policy, taxation, cultural shifts, and workforce issues, the CFO role is evolving into a broader business problem solver and strategic influencer. With the CFO role expansion, financial leaders that intend to incorporate business function to action can implement better, more sustainable, and better business results.
In 2021, a tight labor market, shifting workforce expectations, and new working models needed CFO attention from an employee’s perception. When financial leaders realized that employees needed more purpose at work, they worked together with CHROs to show their staff they matter, reducing the chances of productivity losses. According to Gary McGaghey, CFOs became the drivers of purpose and culture by stressing the importance of trust while maintaining a close eye to the growth plan.
Gary McGaghey notes that CFOs are focused on the workforce and optimistic about growth in this new work era. It’s also vital for CFOs and CHRO to collaborate as new models emerge to drive business strategy into workforce strategy. CFOs will also have to understand the needs of employees and come up with an employee experience that makes their companies unique.
CFOs can focus on different issues to prepare themselves and their workforce for the future. They can do this by first understanding what the future list entails and essential things that can make the financial sector and the overall company thrive. READ MORE HERE: https://techbullion.com/gary-mcgaghey-recommends-four-finance-moves-for-the-next-decade/