Establish a culture that rewards individual performance and constructive ideas: According to a recent survey of 1,200 senior finance executives by the “CFO Europe” magazine, Tilburg University and Duke University, the number one concern of Chief Finance Officers in Europe, the United States and Asia is to attract and retain qualified employees.6 The most important levers to attract and retain qualified personnel are to empower staff, reward good work and offer clear career perspectives. Furthermore, it is critical for the employees of the Chief Finance Officer to feel that they are needed by the business and contribute to the value creation of the company. In return, employees will be more committed to their work and that is crucial for continuous efficiency and improvement.
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1 “Global Telecom IT Spending 2008-2011”, by infiniti Research, February 2009 ; “Financial crisis realigns
consumer spending” by Hill & Knowlton, January 2009; “Communications Spending to Grow – Despite Economy
& Traditional Ad Declines” by VS Forecast, August 2008
2 Detecon project analysis 2007 - 2009
3 Decision Support in the sense of this article refers to all Finance activities related to enabling other business
stakeholders to make more quantitative decisions.
4 „Close cycle rankings 2009“ by BPM International, March 2009
5 Commerzbank Corporate & Markets, Q1 2009
6 „Top ten concerns of CFOs“ by Jackson Karaian, CFO Europe Magazine, September 2008 Edition
Published in DMR 03/2009
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