Have you ever wondered what it takes to be a CFO? What sort of people are attracted to the job of handling and planning the financial security of a company? Apparently there are a lot of people who have thought about this. Ernst & Young decided to put together a report titled “The DNA of the CFO” and it has some interesting information about the views and goals of CFOs in the industry today.
What the Report Covers
One of the most surprising facts to come out of the report is that a majority of CFOs, close to 75%, “want to remain in the role of become bigger and better CFOs.” They aren’t clamoring to take the CEOs position and authority as many people assume. CFOs are dedicated to their work and to their positions and continue to strive to become better.
The report also covers the transition of the CFO from a “scorekeeper” to a “strategic partner” as their roles continue to change. A growing number of CFOs find themselves in leading roles when it comes to forming corporate strategy beyond purely financial aspects.
The report covers the increasing importance of CFOs as public figures. They are becoming more important when it comes to creating and maintaining relationships with stakeholders to grow companies. Additionally, “most [CFOs] point to communication and influencing as the most important areas for improvement.”
The tendency for CFOs to remain professionally solitary is addressed by the report as well. Three-fourths of CFOs say they do not have a fellow professional CFO whom they admire or look to for advice. Plus the report looks into the demographics of the CFO position and common professional beliefs held by a majority of CFOs. The report is also full of useful information for CFOs and aspiring CFOs.
The report is certainly interesting and the quality information it provides is not available often. It’s a great way to get a solid picture of the CFO position in today’s economy. You might find yourself agreeing with much of what the report has discovered about CFOs, or you might find you stand apart from the majority of CFOs. You won’t know unless you check out the report with the link above.