Why more UK CFOs now work remotely

More UK CFOs are choosing to work remotely than ever before – but why?

The pandemic changed the world of work forever. Industries that had previously been resistant to hybrid working found themselves switching offices for remote working virtually overnight.

The ‘great resignation’ and flexibility of hybrid working is leading to more CFOs in the UK choosing to work remotely.

At FD Capital, we’re seeing an increase in CFOs seeking remote working opportunities and companies hiring on a remote basis. CFOs working remotely offer benefits for both financial professionals and companies alike.

Remote working is a win-win for both CFOs and companies.

CFOs experience a higher quality of life with expanded career opportunities and higher productivity. Companies benefit from higher employee retention, wider recruitment pools, and the opportunity to create more inclusive and diverse workforces.

Greater flexibility and increased productivity is leading more UK CFOs to look for remote working opportunities. The future is remote working within the financial industry and beyond.

We’re deep diving into the world of remote work and why it’s becoming popular with the UK’s CFOs.

The Changing Working Environment

While it may appear that company bosses are trying to get their employees back into the office, more UK CFOs are choosing to work remotely. The ‘great resignation’ era and post-pandemic economy have CFOs choosing to work remotely long-term

Nine out of 10 workers who are currently operating remotely plan to do so for the rest of their careers, according to Inc.

Factors such as increased productivity and better mental health have seen both companies and financial professionals make the transition from office to remote working.

Research by Owl Labs suggests the majority of professionals are happier working remotely and would even be willing to take a pay cut to facilitate it.

Technological advancement means CFOs can work for UK companies from virtually anywhere in the world. Zoom, Microsoft Teams, and other software mean they can stay in constant contact, whether at home or in a hybrid office.

It’s clear that remote working is here to stay – and set to become even more popular. While it’s more common to find start-ups and smaller companies spearheading the remote working revolution, larger institutions are following suit.

Financial companies such as Chase and Goldman Sachs have walked back from their previous refusal to allow remote working by announcing working from home policies.

Why Financial Professionals Are Working Remotely

CFOs across the UK are choosing to work remotely because it improves their work-life balance and productivity. A survey by Airtasker found that remote workers are more productive than their colleagues who are still office-based.

The research found that employees working remotely work an additional 1.4 more days a month than office-based colleagues. This difference accounts for an additional 17 days a year.

Financial professionals who work remotely are also productive for longer time frames with fewer distractions.

Technology is the major changemaker for CFOs working remotely in the UK. Video conferencing allows CFOs to liaise with their CEO, colleagues, and other stakeholders from home.

Gone are the days of having to travel the world to meet clients. You can do it all from the comfort of your home office.

Leadership and c-suite roles, including that of a fractional CFO, can be stressful. Working remotely allows CFOs in the UK to improve their health and wellness.

Removing commuting and long office hours allows CFOs to create a better work-life balance, which accumulates in higher performance. Many CFOs are choosing to work remotely to focus on family life or other interests.

Major companies are even taking the leap to embrace permanent working-from-home setups. Airbnb, Spotify, and Yelp are some of the major names choosing to ditch traditional offices for hybrid working and coworking spaces.

While these changes are lowering company overheads, they’re changing the working culture.

The age of WeWork and coworking spaces means that CFOs and their colleagues can go into an office environment when and if necessary – almost anywhere in the world. This flexibility is attracting CFOs who can work remotely for companies across the world.

CFOs are no longer limited to finding job opportunities in their local city and region. Many of them can enjoy the benefits of working for a London-based company without paying the higher cost of living associated with the capital.

CFOs are able to work remotely and progress their career without leaving their current location. It’s ideal for those living in the country or smaller regions where CFO positions are limited.

How Remote Working is Changing CFO Recruitment

Being a ‘digital nomad’ is once again back in vogue. CFOs conventionally have spent their careers in corner offices. Working remotely gives CFOs in the UK the freedom to experience the digital nomad lifestyle.

All they need is their laptop and they can work anywhere in the UK.

Companies adopting remote working can also improve inclusivity.

It’s an ideal way to embrace diversity and become a more inclusive workplace. Remote working allows companies to expand their potential recruitment pool to more geographic, cultural, and socioeconomic backgrounds.

Recruiting CFOs on a remote basis allows candidates to balance personal commitments, caring responsibilities, and family lives. Hiring CFOs on a remote basis can also lead to increased employee retention and more recruitment options.

Over 70% of employers have said that remote working has drastically improved employee retention.

At FD Capital are seeing a sharp uptake in companies offering remote working opportunities for CFOs and senior financial professionals. It’s clear that remote working is here to stay with it bringing a range of benefits to both companies and financial professionals.

More UK CFOs are choosing to work remotely to expand their career opportunities, improve their quality of life, and boost productivity. More companies are following the lead of organizations like Airbnb and PayPal to swap office life for remote and hybrid working.

If you’re interested in exploring the potential of remote working as a CFO in the UK, contact At FD Capital team for more information.