The global economy has put the spotlight firmly on the CFO. They will be the main strategist and driver behind organizational restructuring, divestments, and acquisitions. Today, however, a CFO’s top priority is to ensure their business survives during the pandemic.
Being the CFO requires a tough mentality and the ability to make difficult decisions under challenging circumstances. Many are chosen for the job based on those qualities. Indeed, according to a report by PWC, 82% of CFOs are focused on cost cutting for the foreseeable future to mitigate the impact of COVID-19.
However, now is the time for CFOs to also embrace other skills. Decisions must be made with empathy and redoubled support for their employees and customers. When times are difficult, the CFO has to use their unrivalled insight to do what’s right. It’s not about creating an organization that can survive the next quarter, but years into the future.
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