Measuring Up: Benchmarking Your Finance Function

Benchmarking Your Finance Function

According to the recently released Benchmarking the Accounting and Finance Function: 2015 report, U.S. managers in finance departments work, on average, 47 hours a week, and nonmanagement staff work 42 hours. In Canada, the numbers are nearly the same: 44 hours per week for managers, and 40 for staff.

It’s probably no surprise to most accounting and finance professionals that the report also found that at most companies, those hours-per-week go up during peak periods. But another finding might be a bit of a revelation: At 25 percent of U.S. firms and 31 percent of Canadian businesses, work hours remain the same throughout the year, even during peak periods, due to the use of temporary help.

That’s just one of the interesting insights in the report from Robert Half and Financial Executives International, the sixth annual survey of accounting and finance departments in 1,400 public and private companies, mostly in the U.S. and Canada — one that puts a spotlight on the importance of benchmarking your firm's finance department.

In fact, benchmarking the accounting and finance function may be more crucial — and more difficult — than ever, as businesses grow increasingly complex and global and the pace of change continues to accelerate. In this constantly shifting arena, the information gained from benchmarking can help to keep an organization moving forward and can be used to gain critical insight, motivate change and point the way toward more efficient, effective and innovative practices.

But it can be hard to find the time for benchmarking when you’re struggling just to keep pace. That’s why Robert Half is hosting a one-hour, complimentary webinar on the topic on Thursday, June 11, 2015, at 10 a.m. PT.

During the webinar, experts from Robert Half and Financial Executives International and CFOs from leading companies will discuss how public and private firms in the United States and Canada are managing their accounting and finance departments and measuring up against competitors in five vital areas: workforce management, accounting operations, financial systems, sourcing, and internal controls and compliance. They’ll also share major trends, offer actionable steps for today’s finance leaders and cite critical takeaways related to the report.

Ready to learn more? Register for the webinar here. For a more in-depth preview of the topics panelists will be discussing, download the report here.