As we mentioned last week, our CFO Relationship Map shows the need for CFOs to have effective interactions with HR. (For Part 1 of our survey results, please click here).
Survey Finding #2
We asked CFOs to rate the responsiveness of HR to their needs. The average scoring is as follows (based on a score of 1 = Needs improvement, 2 = Satisfactory, 3 = Strongly satisfied).
- Payroll Process (2)
- Onboarding (1.75)
- Benefits Management (1.74)
- Recruitment (1.70)
- Retention (1.67)
- Performance Review (1.58)
- Budget Process (1.44)
- Training & Development (1.39)
Our survey shows that other than for the involvement of HR in the Payroll Process, our CFOs were less then satisfied with all of these areas.
Opportunities for improvement for HR: HR needs to be aware that their delivery of services is less than satisfactory in all of the above mentioned areas, other than Payroll.
HR has the biggest room for improvement in the areas of Training & Development as well as their involvement in the Budget Process. Specifically, our survey found that:
- 63% of CFOs surveyed felt that HR needs to improve their responsiveness the Training & Development needs of the CFO and the Company.
- 59% felt that HR can do a better job with their involvement in the Budget Process.
Question for discussion:
Are you surprised by the results? Do you feel they are different (or the same) in your organization?