potential recession is a very real concern and is forcing CFOs to find ways to cut costs, increase efficiency, and improve cash management.
The good news is CFOs are used to tackling the most complex challenges—one look at the role CFOs have played over the past three years tells its own story. Now, as the economy slows, it’s time for careful cost cutting while eying opportunities growth.
To learn how CFOs are balancing budgets and business priorities, NetSuite and CFO.com surveyed 500 CFOs and executives from organizations with $250 million or less in annual revenue. Here’s what our survey found.
Efficiency trumps growth as the economy slows
As the Fed battles inflation, organizations are looking to cut costs and improve efficiency.
- 99% of business leaders are predicting budget cuts if the economy dips into recession.
- 100% of CFOs believe inflation will continue to be the primary issue through 2023, and 78% are looking at cutting costs to help fight inflation.
- To improve cash flow and manage financial health, CFOs identified marketing and advertising, talent acquisition, and expanding products and services as the top three areas for potential budget cuts.
Businesses need to balance budget cuts with talent retention
The survey finds that budget cuts may impact employee retention, as many managers report they are looking to leave and worry about “quiet quitting” among their team members.
- 83% of business leaders believe they will face a critical talent shortage this year.
- Despite that, 39% of CFOs expect to reduce hiring budgets, and 37% said they will reduce allocations for retaining talent in 2023.
- Talent shortages and budget cuts are impacting employee morale. Half of managers are actively looking for new jobs, and 59% of business leaders reported that “quiet quitting” is an issue for their company.
Finance teams are championing tech to help manage the economy and talent shortage
To deal with inflation and a possible recession, CFOs are doubling down on technology to help their teams achieve more with less.
- 94% of business leaders believe their executive team is taking the right action to manage inflation and prepare for a possible recession. 92% believe their finance department is fully prepared to handle a potential recession.
- 73% of CFOs anticipate an overall increase in IT/tech spending over the next 12 months.
- 84% of CFOs will be more involved in developing a technology strategy this year, as they believe technology will increase overall productivity and relieve pressures on an overworked workforce.
There’s no doubt that CFOs face a new reality for workforce management. A confluence of factors including demands for higher salaries, a historically small hiring pool, and increasing employee desire for flexible working arrangements make balancing budgets and business priorities more complicated. The survey reveals that business leaders are confident that their finance teams will meet these challenges in 2023.
63 comments
I am glad to be one of the visitants on this great website (:, thanks for posting.
Very good written story. It will be useful to everyone who employess it, as well as me. Keep up the good work – can’r wait to read more posts.
You are my breathing in, I possess few web logs and sometimes run out from to brand.
Its excellent as your other blog posts : D, thanks for putting up. “A gift in season is a double favor to the needy.” by Publilius Syrus.
Hi, Neat post. There’s a problem with your web site in internet explorer, would test this… IE still is the market leader and a big portion of people will miss your magnificent writing because of this problem.
Nice read, I just passed this onto a colleague who was doing a little research on that. And he actually bought me lunch since I found it for him smile So let me rephrase that: Thank you for lunch! “We have two ears and one mouth so that we can listen twice as much as we speak.” by Epictetus.
Hi I am so delighted I found your website, I really found you by error, while I was searching on Aol for something else, Anyhow I am here now and would just like to say kudos for a marvelous post and a all round enjoyable blog (I also love the theme/design), I don’t have time to read through it all at the minute but I have saved it and also included your RSS feeds, so when I have time I will be back to read a lot more, Please do keep up the superb job.
Some really interesting information, well written and loosely user friendly.
This really answered my problem, thank you!
Hmm it seems like your site ate my first comment (it was super long) so I guess I’ll just sum it up what I had written and say, I’m thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new to the whole thing. Do you have any helpful hints for inexperienced blog writers? I’d definitely appreciate it.
Hello.This post was extremely motivating, especially because I was browsing for thoughts on this issue last couple of days.
Amazing! This blog looks exactly like my old one! It’s on a entirely different topic but it has pretty much the same page layout and design. Great choice of colors!
Very interesting points you have noted, thanks for posting.
Pretty section of content. I just stumbled upon your web site and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Any way I’ll be subscribing to your feeds and even I achievement you access consistently rapidly.
Everything is very open and very clear explanation of issues. was truly information. Your website is very useful. Thanks for sharing.
Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say fantastic blog!
I like what you guys are up too. Such clever work and reporting! Carry on the superb works guys I’ve incorporated you guys to my blogroll. I think it will improve the value of my site :).
I like this weblog so much, saved to my bookmarks. “To hold a pen is to be at war.” by Francois Marie Arouet Voltaire.
Great V I should definitely pronounce, impressed with your web site. I had no trouble navigating through all tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Reasonably unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your customer to communicate. Excellent task..
Hey! Quick question that’s completely off topic. Do you know how to make your site mobile friendly? My blog looks weird when viewing from my iphone. I’m trying to find a template or plugin that might be able to correct this issue. If you have any recommendations, please share. Cheers!
I was suggested this web site by my cousin. I am not sure whether this post is written by him as no one else know such detailed about my difficulty. You’re wonderful! Thanks!
Merely a smiling visitor here to share the love (:, btw outstanding style and design. “Reading well is one of the great pleasures that solitude can afford you.” by Harold Bloom.
F*ckin’ remarkable things here. I am very glad to see your article. Thanks a lot and i am looking forward to contact you. Will you please drop me a mail?
You are a very smart person!
This design is incredible! You most certainly know how to keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Great job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!
You can definitely see your expertise within the paintings you write. The arena hopes for even more passionate writers like you who aren’t afraid to mention how they believe. All the time follow your heart. “If you feel yourself falling, let go and glide.” by Steffen Francisco.
Pretty! This was a really wonderful post. Thank you for your provided information.
Thank you for another informative web site. The place else could I am getting that kind of information written in such an ideal way? I have a mission that I am just now working on, and I’ve been on the look out for such information.
Usually I do not read article on blogs, but I would like to say that this write-up very forced me to try and do it! Your writing style has been surprised me. Thanks, quite nice article.
I think other website proprietors should take this web site as an model, very clean and excellent user friendly style and design, let alone the content. You are an expert in this topic!
Thank you for the sensible critique. Me & my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more clear from this post. I’m very glad to see such wonderful information being shared freely out there.
I truly appreciate this post. I’ve been looking all over for this! Thank goodness I found it on Bing. You’ve made my day! Thanks again
I am delighted that I found this blog, exactly the right information that I was looking for! .
I’ve been browsing on-line more than 3 hours these days, yet I by no means discovered any fascinating article like yours. It’s lovely price sufficient for me. In my view, if all site owners and bloggers made good content as you did, the web shall be a lot more helpful than ever before.
fantastic issues altogether, you just received a emblem new reader. What may you recommend in regards to your submit that you simply made some days ago? Any certain?
You can certainly see your enthusiasm within the paintings you write. The arena hopes for even more passionate writers such as you who aren’t afraid to mention how they believe. All the time follow your heart.
Amazing blog! Do you have any hints for aspiring writers? I’m hoping to start my own blog soon but I’m a little lost on everything. Would you suggest starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m totally confused .. Any suggestions? Bless you!
Whats up very cool web site!! Man .. Excellent .. Wonderful .. I’ll bookmark your blog and take the feeds additionallyKI’m glad to search out numerous helpful information here in the publish, we need work out extra strategies on this regard, thank you for sharing. . . . . .
Appreciating the time and energy you put into your site and in depth information you provide. It’s great to come across a blog every once in a while that isn’t the same unwanted rehashed material. Excellent read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.
Great V I should certainly pronounce, impressed with your web site. I had no trouble navigating through all the tabs and related information ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, site theme . a tones way for your client to communicate. Nice task..
Very interesting subject, appreciate it for posting. “If you have both feet planted on level ground, then the university has failed you.” by Robert F. Goheen.
It is truly a great and useful piece of info. I?¦m glad that you shared this helpful information with us. Please stay us informed like this. Thank you for sharing.
Good – I should certainly pronounce, impressed with your site. I had no trouble navigating through all tabs as well as related info ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your customer to communicate. Excellent task..
I really enjoy reading through on this web site, it has good blog posts. “It is easy to be nice, even to an enemy – from lack of character.” by Dag Hammarskjld.
Hi! I know this is kinda off topic nevertheless I’d figured I’d ask. Would you be interested in exchanging links or maybe guest writing a blog post or vice-versa? My blog addresses a lot of the same topics as yours and I believe we could greatly benefit from each other. If you are interested feel free to shoot me an email. I look forward to hearing from you! Excellent blog by the way!
Enjoyed examining this, very good stuff, thankyou. “If it was an overnight success, it was one long, hard, sleepless night.” by Dicky Barrett.
Excellent post. I was checking constantly this blog and I am impressed!
Very useful info specially the remaining phase 🙂 I maintain such information much.
I used to be seeking this certain info for a very lengthy
time. Thanks and good luck.
I’m truly enjoying the design and layout of your site. It’s
a very easy on the eyes which makes it much more pleasant for me
to come here and visit more often. Did you hire out a designer to create your theme?
Fantastic work!
I think what you said made a bunch of sense. But,
what about this? what if you added a little content? I ain’t suggesting your content isn’t solid,
however suppose you added something that makes people want
more? I mean Survey: CFOs Walking the Tightrope Between Short-Term Budget Cuts and Long-Term Efficiency is kinda boring.
You might peek at Yahoo’s home page and see how they create post titles to
grab viewers to click. You might add a related video
or a picture or two to grab people excited about everything’ve got to say.
Just my opinion, it would bring your posts a little livelier.
wonderful publish, very informative. I ponder why the opposite experts of this sector don’t understand this.
You must continue your writing. I am sure, you’ve a great readers’ base already!
Today, I went to the beachfront with my kids. I found a sea shell and gave it to my 4
year old daughter and said “You can hear the ocean if you put this to your ear.” She placed the shell to her ear and screamed.
There was a hermit crab inside and it pinched her ear.
She never wants to go back! LoL I know this is
entirely off topic but I had to tell someone!
Escolha jogar os jogos mais bonitos com jogos do Homem Aranha, salva as pessoas, parar criminosos e sofrer as consequências se você não consegue manter as taxas de criminalidade baixa. Além dos já anunciados Yu-Gi-Oh! Duel Monsters 4: Battle of Great Duelist e Yu-Gi-Oh Duel Monsters 6 Expert 2, a coleção também contará com os seguintes: Expressar-se livremente por meio de desenho, pintura, colagem, dobradura e escultura, criando produções bidimensionais e tridimensionais. Ambientado no fundo dos mares do norte, Under the Waves é um jogo de exploração e narrativa com temáticas reflexivas para os jogadores. Além da exploração, o game conta com diversas reviravoltas e momentos cinematográficos. O sucesso de jogos online baseados em histórias em quadrinhos não se resume ao homem aranha. Existem também jogos do Batman, super-herói que deu origem não somente a desenhos animados e filmes, mas, também jogos eletrônicos com excelentes gráficos e enredo envolvente. Outros exemplos são os jogos do Naruto, que tiveram origem nos mangás.
https://aphorismsgalore.com/users/arlitere1988
Chaos Road é como um jogo de tiro em carros de arcada. Com veículos 3D, a tua missão é derrotar o chefe final, recolhendo itens de melhoramento e abatendo os veículos que te incomodam na estrada. O teu veículo continua a disparar automaticamente. Não te esqueças de pegar no íman para recolher facilmente todo o tipo de itens. Para derrotar o chefe final, tens de evitar as suas balas e continuar a disparar – diverte-te!Quem desenvolveu o Chaos Road?A Supercharge Mobile desenvolveu este jogo de ação. Os jogos são uma boa forma para contrariar isso e manter os mais novos entretidos durante a viagem. Conheça alguns jogos para jogar no carro para todos se divertirem, e fazerem com que o tempo passe “mais rápido”. Parece óbvio que, entre as centenas de opções de jogos de celular disponíveis no mercado, os games de corrida de carros ou motos também teriam seu espaço garantido. Afinal de contas, estamos falando do mito da velocidade, presente na indústria desde os seus primórdios e que, nos smartphones Android, também têm seu espaço garantido.
Someone necessarily assist to make seriously articles I’d state. This is the very first time I frequented your website page and thus far? I surprised with the analysis you made to create this particular publish incredible. Great task!
Keep functioning ,remarkable job!
I enjoy your writing style genuinely enjoying this web site.
Howdy! I could have sworn I’ve been to this blog before but after checking through some of the post I realized it’s new to me. Nonetheless, I’m definitely happy I found it and I’ll be book-marking and checking back often!
Hmm it appears like your site ate my first comment (it was super long) so I guess I’ll just sum it up what I had written and say, I’m thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new to the whole thing. Do you have any points for first-time blog writers? I’d genuinely appreciate it.
There’s noticeably a bundle to know about this. I assume you made sure good factors in features also.
Hello there, I found your blog via Google while searching for a related topic, your website came up, it looks good. I’ve bookmarked it in my google bookmarks.
I do accept as true with all the ideas you’ve presented to your post. They are very convincing and will definitely work. Nonetheless, the posts are too short for starters. May you please prolong them a little from next time? Thank you for the post.
I am often to blogging and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your site and keep checking for new information.
What i don’t understood is in fact how you are no longer actually a lot more neatly-favored than you may be right now. You are so intelligent. You recognize therefore significantly in terms of this topic, made me in my view consider it from so many various angles. Its like women and men don’t seem to be interested except it’s one thing to accomplish with Woman gaga! Your personal stuffs outstanding. Always deal with it up!
You really make it seem so easy along with your presentation however I to find this matter to be really something which I think I’d by no means understand. It kind of feels too complex and very extensive for me. I’m having a look forward on your next publish, I will try to get the cling of it!