As the world struggled to deal with pandemic effects, it became clear that leaders needed new solutions to keep up with a changing global marketplace and the rising demand for remote workforce management.
Gary McGaghey: Corporate strategy and financial problems must be aligned to sustain success. Aligning the goals of consistent strategic planning with business profitability can be achieved by using a CFO as an influencer, problem-solver, and change agent.
The CFO’s role has evolved, and they’ve become influencers in the broader business more than ever before: as an agent of change and problem-solver for their company. These professionals must intentionally create connections between fiscal strategy overall corporate goals so that ideas can take root faster, better, and sustainably.
With a tight labor market and new working models, the prospect of people leaving their jobs was more likely. Recognizing that people want to have a job and work in an environment where they matter, finance leaders collaborated with CHROs to show workers they mattered while keeping productivity losses from happening at the same time. In doing so, CFOs highlighted how important trust is for culture and purposeful work–while also paying close attention to their growth agenda.
New hybrid models have created optimism among CFOs, seeing the growth potential. For growth, competition is fierce; their focus has shifted from people toward employees and service workers crucial for business strategies. An employee’s key asset is a collaboration between the CHRO and CFO to embed workforce strategy into business strategy, added Gary McGaghey.
Instead, employees are the critical asset to business strategies, and this strategy must be communicated effectively with their CHROs (Chief Human Resources Officers). Finance leaders can help prepare their people and themselves for the future and use these items to understand what is most important.
Gary McGaghey has been managing firms for the last 15 years within fast-moving consumer goods and pharma companies with a proven track record of delivering increased shareholder value. He has delivered successful results in a range of commercial roles using his ability to shape strategy and drive sustainable top and bottom-line growth. Get to know with Gary McGaghey here: https://fitmediafitness.co.uk/team_member/gary-mcgaghey/