Navigating Opportunities & Trends in Senior Finance Recruitment

Navigating Opportunities & Trends in Senior Finance Recruitment

At Cedar's latest Senior Finance Breakfast event, attendees discussed the current UK market conditions and the evolving role of CFOs within businesses. The conversation focused on the global and domestic factors influencing the economy and the growing responsibilities of CFOs.

UK Market Conditions:

The discussion highlighted ongoing instability in the global market, driven by the conflict between Russia and Ukraine, the Israeli conflict, political transitions in both France and Germany, where governments are a mix of far-left and far-right influences and uncertainty surrounding the upcoming U.S. election.

Amidst this backdrop, the UK was portrayed as a relatively stable economy. Despite differing opinions on political developments, the Labour majority government provides businesses with some level of predictability for the next 4-5 years. This sense of stability, coupled with the upcoming UK budget, offers businesses a clearer picture of the future. While there are expected changes to tax and employment law, the consensus was that businesses, particularly finance leaders, have always adapted to such shifts. Many participants agreed that instability has become the new normal, and resilience is now a core trait of modern organisations. With the government’s budget announcements expected soon, there was a sense of cautious optimism. Attendees felt that once the budget is released, the certainty it provides could bolster confidence, leading to a potential increase in investment and movement, particularly at the senior finance level.

The Evolving Role of CFOs:

A significant portion of the event focused on how the role of the CFO is constantly evolving, with responsibilities expanding beyond traditional financial oversight. Today’s CFO is expected to manage a wide array of external issues, such as sustainability, the rise of B Corp certifications, and other areas of growing interest to boards and executive management.

Additionally, CFOs are increasingly viewed as the primary source of business knowledge within an organisation, though they are not always the most popular figures, as they are often the ones tasked with saying "no" to certain initiatives. A good CFO, however, understands the importance of effective communication and tailors their approach depending on the audience, whether that's the board, employees, or external stakeholders. One of the key takeaways from the discussion was that the skills required for a successful CFO are highly transferable. Regardless of sector, industry, or ownership model, a strong CFO can adapt to varying environments, ensuring they remain a critical asset to the organisation. The event underscored that despite an unpredictable global landscape, the ability to adapt, communicate effectively, and take on new responsibilities are crucial skills for today’s finance leaders.

If you’d like to discuss any of the topics from this event or join future events please click here

If you'd like to discuss your next career move or possible recruitment needs please message Georgina Denslow.

Barrie Dewhirst (REC2REC)

UK'S LONGEST SERVING REC2REC AGENCY SINCE 1999! I have jobs for recruiters in Legal, Accounting, Financial & Professional Services sectors. CALL ME CONFIDENTIALLY!!!! 07487 508210.

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