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CFO and HR Collaboration

Now - more than ever - companies need a better understanding of the relationship between cost and performance, especially as they are struggling to identify, secure, and develop talent. Market leading companies are tackling this issue through increased collaboration between their CFO and the senior HR officer.

The constantly changing global business environment requires every company to continually adapt its strategies as well as introduce new products and services to remain competitive. By improving collaboration between the CFO and HR, businesses can ensure that both the financial and human resources impacts of decisions are addressed as strategies are developed and implemented.

A recent global survey of CFOs and chief human resource officers (CHROs) by EY finds that a strong relationship between the CFO and the CHRO is linked with superior business performance. Companies where the relationship has become more collaborative over the past three years report higher EBITDA (earnings before income tax, depreciation and amortization) growth and stronger improvement across a range of human capital metrics, including employee engagement and productivity.

High performing companies report:

  • 80% say the CFO/CHRO relationship has become more collaborative over the past three years
  • Where the relationship is significantly more collaborative:
    - 41% had greater than 10% EBITDA growth in the last year, compared to only 14% of other companies;
    - 43% saw a significant improvement in workforce productivity in the last year, compared to only 10% of other companies;
  • 58% rate the collaboration on the business strategy and development as excellent versus 22% at others;
  • 49% consider their company to be excellent at using data analytics to improve HR performance, versus 16% of others;
  • 51% say that the CFO in their organization is heavily involved in identifying and tracking HR metrics, versus 10% of others.

From a CFO’s perspective, profitability is the goal. This can’t be achieved without a workforce operating at full productivity supporting company growth. Investing in collaboration with your HR peer is an excellent way to ensure you have the people in place to meet and exceed business goals.

CFO and HR Collaboration

Staying Motivated at Work During the Holidays

During this festive time of year our minds are often on parties, shopping, family visits, school vacations, and getting things done at home. It can be difficult to stay focused at the office, but of course, we need to get our jobs done! Here are a few ways to stay on top of things at work, plus they’ll help you feel more at ease about your work-life balance too.

Make a plan for your kids during the holiday break. You’ll stay on task at work when you know things are covered at home. Line up some play dates during the holiday break, schedule some outings for the kids and the babysitter, and make a list of chores to be completed during the day.  Whether your kids have supervision during the break or are old enough to stay by themselves, everyone can help the household run smoothly. Even the youngest kids can be assigned some simple tasks; it’s important that everyone know that their contribution to making the house run smoothly is valuable. Plus, when the kids have a plan you won’t be getting calls all day at the office. When you know everything at home is organized it’s easy to keep your mind on your work.

Get rid of the clutter on your desk. Are you really using all those files stacked in the corner? Clutter causes distractions, and makes relatively small jobs seem large when you have to dig to get to them. Clean up those mountains of papers. Removing clutter is removing distractions. A clear workspace helps keep your mind clear too.

Mix it up! Work on different tasks and mix up your schedule if possible. Adjusting your daily schedule will keep it feeling fresh.

 

Network! Now is the time of year to attend a networking party. Many organizations offer events during the holidays. Meeting new people and potential new clients will make that next cold call a little “warmer”.

Get some help. If several members of your team are on vacation, you might feel like you’re stuck doing twice the regular work-load. Call a reputable staffing firm and bring in a professional temporary employee to carry some of the load. It’s hard to stay motivated if you’re truly drowning in work.

Set an example. Be of good cheer while those year-end deadlines are looming. Your mood is contagious, so have a good one. Others will follow. 

A little planning and organization will keep you on task and focused during the holidays. Plus, finishing off the year right will set you up for a happy start to the New Year!

Wishing you the best of the season from all of us at SNI Companies!

Staying Motivated at Work During the Holidays