Stanton Chase: How CFOs Are Stepping Up Amid The Crisis
CFO Survey Report 2021
As the world has undergone a whirlwind of change due to COVID-19 in the past 12 months, CFOs have stepped up to the forefront of crisis management. In the latest survey by Stanton Chase executive search, titled “Trial By Fire: How CFOs Are Stepping Up Amid The Crisis,” we canvassed over 250 CFOs from around the globe about their expanded role and increased focus on strategy, technology, and human capital. This survey was spearheaded by Stanton Chase’s CFO Practice Group.
Winston Churchill’s famous challenge to “never waste a good crisis” has been frequently invoked this year. Looking back at the 2008 financial meltdown, the 2000 dot-com crash, and even the Great Depression, it can be argued that the lasting economic impact of the global pandemic may well surpass all of these combined. And the path to recovery will largely depend on companies’ ability to leverage the crisis as a catalyst to reformulate and adapt their business plans and operating models.
Key findings from this report:
- Biggest challenge for the next 3 years: Long term business and financial impact of a global pandemic
- Biggest priorities for the next 5 years: Adapting existing business model to thrive within the future economy
- Biggest priority For 2021: Developing and executing company strategy
- Biggest risks for the next year: Ongoing financial and business impact of a global pandemic
- CFOs at larger companies were more likely to assign a greater level of risk to keeping pace with digital transformation and innovation.