CFOs Share Companies' Most Frequent Missteps

May 1, 2012 (PLANSPONSOR.com) – Forty-one percent of chief financial officers (CFOs) say lack of communication between staff and management is the most frequent misstep companies make in managing their teams.  

According to a survey by Accountemps, another mistake among companies is lack of recognition and praise, which was cited by 28% of respondents. Other responses include:

•  Lack of training, development and/or educational opportunities (11%);

•  Lack of flexibility in work schedule (8%);

•  Lack of authority given to employees (6%); and

•  Don’t know/no answer (6%).

“Employees want to be kept in the loop and feel appreciated,” said Max Messmer, chairman of Accountemps. “An organization can only be successful if its employees have the information and support they need to do their jobs well and a forum for two-way communication.”

The national study, developed by Accountemps, was conducted by an independent research firm and is based on more than 1,400 telephone interviews with CFOs from a random sample of U.S. companies with 20 or more employees.

Tara Cantore
editors@plansponsor.com