No job is too small for finance executives, a new Robert Half Management Resources survey suggests.
But if chief financial officers (CFOs) could get one thing off their plates, it would be administrative tasks.
More than one-third (38 percent) of CFOs interviewed said that if they could eliminate one responsibility, it would be basic clerical and administrative work.
The survey was developed by Robert Half Management Resources, a provider of senior-level accounting and finance professionals on a project and interim basis.
It was conducted by an independent research firm and includes responses from 795 CFOs from a stratified random sample of U.S. companies with 20 or more employees.
CFOs were asked: “If there was one responsibility you could hand off from your job, what would it be?”
Thirty-eight percent said they would like to stop doing basic clerical/administrative chores while 19 percent wanted to get rid of accounting-related tasks. Another 14 percent selected work that was related to human resources while seven percent picked managerial work. The rest of those surveyed selected operations-related tasks and interactions with vendors.
“Today’s need to ‘do more with less’ extends to all levels of the organization,” said Paul McDonald, senior executive director of Robert Half Management Resources. “At small and midsize companies, in particular, this often means financial executives have had to take on tasks once handled by others.
“The demands of the current economic environment make it even more essential for senior-level managers to use their time wisely.”
The company offered executives six tips for maximizing their time:
• Set realistic expectations.
High standards are a must, but setting impractical goals can cause frustration and waste valuable time. When initiating a project, consider what you would like to achieve if resources and time were unlimited. Then determine what can reasonably be accomplished considering available resources and other priorities.
• Don’t procrastinate.
It’s tempting to postpone less challenging assignments for more exciting initiatives, but it can backfire if projects start to stack up. Procrastination strains working relationships and creates unnecessary stress as everyone strives to catch up.
• Delegate.
Distribute more routine tasks to other staff members. Look for opportunities that allow your top performers to gain visibility and build their expertise and decision-making skills.
• Keep meetings on track.
Distribute a detailed agenda prior to the discussion so everyone is prepared. Meetings should begin and end on time. If information can easily be covered in e-mail or phone, a meeting may not be warranted.
• Bring in help.
If you and your team are overloaded, consider bringing in outside support during peak activity periods or for large-scale initiatives that are finite in nature.
• Recharge.
Financial executives are accustomed to long hours and demanding work, but that doesn't mean they should sacrifice breaks and vacation. Scheduling time for even a short respite can restore energy and a sense of control.
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