Thanks for stopping by this installment of “Being Planful,” our series recapping the latest CFO news for the Office of the CFO. We’ve scanned the headlines for trending topics relevant to the Office of the CFO and here’s what we found:
More uncertainty puts more pressure on finance and accounting professionals to do more analysis, run more scenarios, and build more models. That pressure continues to take a toll. But with U.S. unemployment remaining below 4%, unhappy workers still have plenty of options.
The Bottom Line: To put a number on worker well-being, stress costs companies about $2,000 per employee: “organizations can experience an opportunity loss of $20 million for every 10,000 workers due to low well-being and its drain on performance.”
It appears that oncoming economic haziness will be the sequel to the past few years of economic chaos. The result is the Office of the CFO continues to be asked more questions with more frequency.
The Bottom Line: With finance and accounting teams both overworked, more CFOs are looking to cut costs rather than cut people as the economy swings: Alexander Bant, chief of research for CFOs at Gartner, says: “Most CFOs are very reluctant to let staff go in what seems to probably be a pretty mild recession.”
‘Tis the season for new year’s predictions. Volatility and uncertainty continue to be the main drivers, which also makes it difficult to nail down a theme for 2023. On the bright side, a major U.S. shopping mall owner says,