CFOs Cite Strong Leadership, Talent as Keys to Staying Ahead of the Competition

TORONTO - Employing good people is a company's best line of defense against the competition, a recent survey of chief financial officers (CFOs) suggests. Nearly two-thirds (65 per cent) of executives interviewed said that having solid leadership and hiring outstanding talent are the best ways to protect against threats from rival firms. State-of-the-art technology is also viewed as a significant advantage, cited by 12 per cent of respondents.

The survey was developed by Robert Half Finance & Accounting, the world's first and largest specialized financial recruitment service. It was conducted by an independent research firm and is based on interviews with more than 270 CFOs across Canada.

CFOs were asked, "Which one of the following will best protect companies
from competitive threats in the next three years?" Their responses:

Strong company leadership ............... 33%
A focus on hiring the best people ....... 32%
Up-to-date technology ................... 12%
The ability to develop and implement
new ideas quickly ...................... 11%
Up-to-date competitive intelligence
and market data ........................ 7%
Other ................................... 1%
Don't know/no answer .................... 4%
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100%

"Strong leadership is important in any economy, but it is even more essential for companies during challenging economic times," said Kathryn Bolt, president for Robert Half International's Canadian operations. "Firms must maintain high service levels and be able to capitalize on new business opportunities, which requires talented staff."

Bolt noted, "There are outstanding candidates in the job market now who were previously unavailable. Employers can benefit from this increased talent pool by hiring professionals who possess specialized skills and expertise and are able to help firms weather the downturn while positioning the organization for future growth."

The national study was developed by Robert Half Finance & Accounting, the world's first and largest staffing services firm specializing in accounting and finance. It was conducted by an independent research firm and is based on more than 270 telephone interviews with CFOs from a random sample of Canadian companies.