Well, like the old saw says, time flies when you’re having fun. It seems unbelievable to us, but July 11 marks the one-year anniversary of the first issue of CFO Brew.

We’ve seen an unbelievable amount of change and uncertainty in our first year, more than we would have ever guessed a year ago: an ongoing European ground war, supply chain snarls, staggering inflation, upheaval in the banking system, a crypto implosion, and the introduction of ChatGPT.

To mark our first birthday (since we can’t all raise a glass together) we’ve gathered some of our—and your—favorite stories from CFO Brew’s first year.

• Talent is No. 1. CFOs consistently rate attracting and retaining talent as one of the most pressing challenges they face. The most read story of our first year tackled the talent question head on. “How one company’s finance and HR teams handled talent retention,” published in February, looked at how one company’s HR and finance teams worked together to improve employee retention and engagement.

Keep reading.—DA

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For anyone looking for signs of a continued “Great Resignation,” here’s your smoking gun: 26% of workers said it’s likely they’ll change jobs within the next year, according to the Global Workforce Hopes and Fears Survey from PwC, which maps the “hopes and fears” of almost 54,000 workers in 46 countries and territories. That figure is up from 19% last year.

But there’s another, slightly less obvious finding from the survey that provides an equally useful snapshot of how workers feel about their financial chances right now. Workers who “struggle to pay the bills” each month were among the most likely to switch jobs—and around the world, employees “are increasingly feeling cash-strapped.”

The cash-strapped workforce is also asking for more money, according to PwC. The percentage of workers who plan to ask for a raise climbed to 42% from 35% last year. And those figures are even higher for workers who are financially struggling: 46% planned to ask for a raise.

Keep reading.—NP

CFOs often come into conflict with other members of their executive team over spending cuts. But they’re also often reluctant to go against the grain and voice their opinions.

That’s according to the 2023 EY Global DNA of the CFO Survey, released Wednesday morning. The survey polled 1,000 CFOs and finance leaders in 21 countries and 13 industries. All of the respondents’ organizations had revenues over $1 billion.

67% of the respondents said they experienced “tensions and disagreements” with other members of the C-suite over how their organizations balance short- and long-term goals.

The survey shed light on one possible cause of these tensions: when companies cut or pause spending in high-priority areas to meet short-term budget goals. For instance, 43% of respondents said technology was a long-term priority for their organizations, but 34% said their organizations were making cuts in this area to hit earnings targets within the next year.

However, CFOs may be reluctant to go against the grain when it comes to tense topics such as budget cuts. Only 30% said they “always” challenge their executive teams when they conflict on key issues, and 32% said they “always” voice opinions that go against the consensus.

Continue reading.—CV

Today’s top finance reads.

Stat: 84.76%. That’s the percentage of Americans planning on traveling at least once this summer, according to The Vacationer’s Summer Travel Survey. It represents nearly 219 million people and TBH, it feels like about half of them tried to get on our last flight. (The Vacationer)

Quote: “Finding and retaining diverse talent, accelerating business and digital transformation, redefining how we measure value—they’re all driving the need for new and enhanced skills. The finance team can’t do things the way they used to.”—Tom Hood, executive vice president of Business Engagement & Growth for AICPA & CIMA, on the mindset needed for the future of finance. (Journal of Accountancy)

Read: The most important C-suite skills aren’t quite what you think. (Harvard Business Review)

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