WASHINGTON, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Chief financial officers are wrestling with new challenges and growing responsibilities in shorter time frames as CFO tenure decreases, according to findings from a new survey conducted by the Office of the CFO Solutions practice at FTI Consulting, Inc. (NYSE: FCN), in collaboration with Industry Dive.
In a survey of corporate finance executives, nearly half of the respondents expect the CFO at their company to have a tenure of less than five years. This points to increased job options for CFOs, but also potentially having less time to deliver high-impact value in their roles.
“This year’s survey results aligns to what we’re hearing from our CFO clients,” said Gina Gutzeit, Leader of the Office of the CFO Solutions practice at FTI Consulting. “High-performing CFOs want to make an immediate impact, whether they are looking at their role in the long-term or short-term.”
The survey unveiled six other key insights about CFO priorities over the next year:
“As we’ve witnessed the CFO role pivot to be an enterprise value creator, expectations have heightened to also be a change leader that must achieve lofty financial performance goals,” said David White, a Senior Managing Director in the Office of the CFO Solutions practice at FTI Consulting. “However, amidst all the ‘traditional’ areas that CFOs must lead, there’s a new list of responsibilities and the added pressure of fostering culture and engagement that is amplified with a remote and virtual workforce.”
Read the complete survey report, It’s A New World for CFOs: FTI Consulting CFO Survey Report 2021-2022, on the FTI Consulting website.
Survey Methodology
FTI Consulting collaborated with CFO Research of Industry Dive to field an online, invitation-only survey, polling 222 CFOs and other senior finance executives during the third quarter of 2021. The survey consisted of a mixed use of multiple-choice, open-ended, Likert-scale and matrix questions to understand the state of the finance function. Broadly, the questionnaire consisted of themes to better understand the CFOs’ short and long-term priorities, challenges, concerns, and the gaps within their finance function. Fifty percent of the respondents were CFOs, senior or executive vice presidents of finance, or vice presidents of finance. The other survey respondents included CEOs or presidents (14%), director of finance (24%), Chief Accounting Officers or controllers (6%), treasurers (2%), and other senior corporate finance titles (4%). Nearly all the respondents represented companies with $100 million or more in annual revenues, with 21% in the $100 million to $500 million range, 24% in the $500 million to $11 billion range, 30% in the $1 billion to $5 billion range and 23% of respondents in the $5 billion-plus category. The executives represented companies across a full spectrum of industry sectors, including financial services/ real estate, construction, auto/industrial/manufacturing, healthcare, technology, and retail/consumer products.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 6,600 employees located in 29 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $2.46 billion in revenues during fiscal year 2020. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
FTI Consulting, Inc.
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+1.202.312.9100
Investor Contact:
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+1.617.747.1791
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Media Contact:
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