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COVID-19 and its effects forced short-term changes on many finance functions, including changes to organization design — structures, networks and workflows, and role design. Finance leaders will need to account for these new realities in their long-term plans for the shape of the finance function. Finance function structures will be permanently flatter Finance function organizational structures have typically been hierarchical. However, many finance positions were eliminated in 2020, essentially flattening most finance organizations — and requiring staff to operate more autonomously and adapt quickly to change. Finance managers will now manage more employees, making it critical for them to be clear about the finance activities they do or don’t need to perform, while allowing employees to work more independently. Read more: Top Priorities for Finance Leaders in 2021 Finance Redesign the Finance Organization 4 steps for finance leaders to support growth Download Report To respond effectively to these shifts, finance leaders can: Determine the potential for autonomy by capturing feedback from the hardest hit areas of the finance function on how employees managed more autonomy and where better support is needed. Identify the tasks most suited to automation by asking staff, for example, which tasks have the lowest rate of