The Trial Balance is CFO’s weekly preview of stories, stats, and events to help you prepare.
Part 1: Turnover — a big problem or no problem at all for CFOs, data says
Did you or someone you know quit their job during the pandemic?
The answer is probably an astounding yes. However, according to new data from the Conference Board, those who switched jobs during the pandemic’s onset are now much less happy in their new roles than those who stayed put.
The least happy employees have been in their current positions for six months to under three years. The three-year mark seems to be the threshold for happier workers. Job satisfaction rates rise from 58.2% to 63.6% once employees reach three years in their roles.
For CFOs, this data is significant because of the continued impact turnover has on their businesses. In a poll conducted on CFO’s Linkedin page, finance leaders were slightly polarized on the issue. More than half (52%) said turnover remains a significant problem for their organizations, while nearly a quarter (23%) said it’s no problem at all.
What are these two groups of CFOs doing differently? The possibilities could include upskilling opportunities, work-life balance initiatives, good technology and authentic company culture.
Part 2: The week ahead
Here’s a list of important market events slated for the week ahead.
Monday, June 3
- S&P Global US manufacturing, May final
- ISM Manufacturing, May
Tuesday, June 4
- Job openings, April
- Factory orders, April
Wednesday, June 5
- ADP private payrolls, May
- ISM services index, May
- U.S. productivity (final revision)
- S&P Global US composite PMI, May final
Thursday, June 6
- Challenger jobs cuts, year-over-year, May
- Initial jobless claims, week ending June 1
Friday, June 7
- U.S. employment report, May
- U.S. hourly wages
Part 3: Metric of the Month
Tracking and intentionally managing days payable outstanding and days sales outstanding provides a set of concrete levers for achieving optimal liquidity. This month, APQC CFO Perry D. Wiggins shares how understanding and balancing these metrics can help CFOs improve cash flow and build cash reserves. (6/5)