Posts Tagged CFO
Extracted from the SHRM report: Does Having HR Report to Finance Influence Investments in HR?
As a frequent speaker on workforce analytics at HR conferences, I often start with a confession to the audience: I was formerly a vice president of finance and CFO.
In that role, I explain, I worked closely with HR in much the same way that finance professionals likely collaborate with HR professionals in most organizations. I would listen politely to HR’s requests for resources to invest in staff, systems or training. And then I would say “no.”
Companies perform better, have better employee engagement and experience higher degrees of productivity if their chief human resource officers (CHRO) and chief financial officers (CFO) have strong relationships.
According to the report The CFO & HR: Partnering for Performance, by Ernst & Young (EY), 80 percent of CFOs and CHROs say improving their working relationship led to the following accomplishments:
For the third year in a row, chief financial officers (CFOs) in the U.S. cited rising health care costs as their No. 1 concern, according to the Bank of America Merrill Lynch 2014 CFO Outlook survey.
Of the financial executives who participated in the annual survey of middle-market companies, nine out of 10 also said they expect their organization to increase or maintain the size of its workforce in 2014.