The most pressing issue was named as ‘interpersonal conflicts’ and executives’ own on-the-job performance, followed closely by the pressure to find and hire good employees.
The survey – based on phone interviews with more than 2,200 CFO’s from a random sample of companies in more than 20 of the largest US cities – asked: “Which single work challenge, if any, most often keeps you up at night?”
Paul McDonald, senior executive director at Robert Half, said the daily stress that CFOs face at the office often follows them home.
“Most employees have lost sleep over work worries, but financial executives have the added responsibility of making sure everyone – including themselves – is performing up to par,” McDonald said in a statement.
“One way to limit stress – and help to ensure a good night's sleep – is recruiting the right people. Luckily, employers don't have to go it alone. A specialized recruiting firm can assess a company's business needs and streamline the hiring process.”
Below, Robert Half Finance & Accounting shares five tips for CFOs to mitigate work challenges and rest easier:
Address issues as they arise:
Workplace conflicts only get worse when ignored and avoided.
Set goals and timelines:
Make the results you need to see from your staff clear, with deadlines and expected outcomes.
Recognize your team:
Different people respond to varied motivational techniques, but everyone likes to hear when they're doing a good job. Don't hold back on genuine praise.
Evaluate your hiring strategy:
In addition to having the necessary skill sets and fitting in with the corporate culture, great employees share a few qualities, including a can-do attitude, right-sized ego and sense of humour. Periodically refresh your recruiting plan to ensure you're attracting the right people.
Drive employee acquisition and retention:
Finding skilled professionals when you need them can be stressful. But if you nurture a talent pipeline year-round, you'll be better equipped for the future.
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New research from staffing firm Robert Half Finance & Accounting has revealed the biggest work challenges for financial executives.