Accounting for Corporate Culture

More Than Half of Canadian CFOs Surveyed Say They’re Not Involved in Shaping Corporate Culture

Toronto, ON – CFOs may manage their company’s finances, but many don’t appear to feel accountable for a less tangible aspect of the business: its corporate culture. In a Robert Half Management Resources survey, only 19 per cent of Canadian CFOs said they are involved in shaping corporate culture. However, those executives who do play a role reported taking several steps, including using their firm’s values to guide their actions and helping develop the organization’s mission and define the desired environment.

CFOs were asked, “How involved are you in shaping your company’s corporate culture?” Their responses*:

Very involved

3%

Somewhat involved

16%

Not too involved

20%

Not at all involved

58%

Don’t know/no answer

4%

 

101%

* Responses do not total 100 per cent due to rounding.

 

CFOs who reported being somewhat or very involved also were asked, “How are you involved in shaping your company’s corporate culture?” Their responses**:

Use company principles and values to guide actions

96%

Contribute to the development of the company’s mission

94%

Collaborate with other executives to define the desired culture

93%

Speak regularly with employees about the culture

81%

Contribute to training and onboarding programs

65%

** Multiple responses permitted

Corporate culture matters

“Business leaders shouldn’t underestimate the impact they have on shaping a positive and supportive work environment,” said David King, Canadian president of Robert Half Management Resources. “Executives’ actions serve as a model for employees, and sets the standard for an engaged, collaborative and ethical corporate culture.”

King added gaining experience aligning employees with the company’s mission and values can help prepare CFOs for a CEO role. “The ability to connect with employees while in a senior role can help distinguish executives looking to advance. Actively seeking opportunities to celebrate team successes and valuable employee contributions will establish a more confident, motivated workplace.”

Robert Half Management Resources offers tips to help leaders build a strong corporate culture:

  • Tell employees why their work matters. Make sure you or management talk to staff about how they contribute to the company’s success. People want to know how they make a difference, which will help them stay focused on your firm’s key objectives.
  • Say “thank you.” Foster a culture of appreciation, where people see their work is recognized. In the process, you’ll reinforce the level of expected performance.
  • Give people tools to advance. Invest in training and develop career paths, including identifying specific support the company can offer to help employees meet their individual and team goals.
  • Keep staff updated on financial performance. Employees are interested in hearing how your firm is doing. Leaving them in the dark can lead to stress, disengagement and speculation.
  • Turn jobs into careers. People want to enjoy where they work. Show them how they can succeed at your organization, and conduct team-building activities that allow colleagues to develop stronger ties.

About the Research

The surveys were developed by Robert Half Management Resources and conducted by independent research firms. The CFO survey is based on telephone interviews with more than 270 CFOs from a stratified random sample of companies in Canada.

About Robert Half Management Resources

Robert Half Management Resources is the premier provider of senior-level finance, accounting and business systems professionals for companies’ project and interim staffing needs. Customizing its approach for each organization, Robert Half Management Resources can provide a single consultant, a financial team or full-service consulting services, delivered through Protiviti, a Robert Half subsidiary. With more than 140 locations worldwide, Robert Half Management Resources works with companies of all sizes, including more than half of the top 100 companies from the FORTUNE 500®. For more information, visit roberthalf.ca/management-resources. Follow us at roberthalf.ca/blog and @RobertHalf_CAN for additional workplace advice and hiring trends.

For further information contact: Naz Araghian, (416) 865-2140, [email protected]