Can a CFO Work Remotely?
The future of finance has changed in recent years. The COVID-19 pandemic has been detrimental in many ways, but if it has given us one good thing, it’s the fact that many roles are now able to be performed remotely.
When we were unable to leave our homes, many professionals quickly transitioned to working from home. Though we weren’t expecting it, the pandemic proved that it is possible to transition to working remotely, even if you have a high-power position.
Therefore, for Chief Financial Officers (CFOs), it is certainly possible to work remotely. As with all things, there are pros and cons to working your position remotely, but in this case, the pros might just outweigh the cons. Let’s discuss working remotely as a CFO:
Are Current CFOs Working from Home?
When it comes down to it, current CFOs are working from home. Companies as different as CareCentrix and Ulta are having mutual success with their CFOs working from home. The CFO of Ulta, Scott Settersten, describes the fact that there truly isn’t an urgent need to have a physical office space.
Some people think that office spaces are important for team-building, mentoring, and learning. While this is true, we have since learned that mandating going into the office is not the best choice for companies.
When employees can have a great work-life balance, a stress-free work environment (their home), and the flexibility that comes with working from home, they’re more likely to learn from their colleagues.
That is, mentoring isn’t as successful when employees are overworked and stressed, and because CFOs and other employees can now work from home, mentoring initiatives will be more successful.
Is the Office Gone Forever?
No, the office is not entirely gone forever. It is still true that the office is beneficial for mentoring and learning. With this being said, the office doesn’t need to be an everyday setting for CFOs and their colleagues.
Instead of forcing all employees to work from an office, it is a better idea to make convening in an office a bi-weekly or bi-monthly occurrence. When you have in-person meetings that only occur every once in a while, then employees and CFOs will not be overwhelmed with the amount of in-person contact that is happening.
Limiting in-office events will prompt everyone to appreciate them without getting overwhelmed because they will be events the team looks forward to, not events the team dreads.
How Can a Community Culture Be Maintained Online?
We’ve mentioned that the office is important to maintain a company culture, so how can working online facilitate a positive company culture?
It’s important to maintain a work environment that has frequent conference calls. When CFOs can video chat and speak to their colleagues online, the repertoire that comes with in-office work can be maintained.
CFOs Will Benefit from Remote Work
CFOs have many reasons to support working remotely. Not only is working remotely more affordable in the long run, but it’s also a positive thing for employees. If CFOs can work remotely, there is no reason why their employees can’t work remotely, too.
In the end, remote work will lead to greater employee retention and turnover. Working remotely will also reduce the cost of utilities like electricity, AC, internet, heat, and more. With there being so many benefits to working remotely, the future of finance lies in remote work.
If you’re a CFO who’s trying to stay on pace with the ever-changing industry, then it’s a good idea to get on board with remote work. That is, in the end, the answer to the question “Can CFOs work remotely?” is a resounding yes.