Press Release
CFOs pinpoint a lack of board-level alignment as hampering growth and success
28 May 2025
Research from leading business and financial advisory firm Grant Thornton UK has found that 62% of Chief Financial Officers (CFOs) feel that they don’t have a strong working relationship with their counterparts in Human Resources.
This is despite 94% of CFOs recognising that a strong working relationship with their firm’s Human Resources Director (HRD) is important for their business’s overall success.
The survey also found that overall, fewer than half of CFOs feel that they have a strong working relationship generally with their fellow executives, with 50% saying they don’t have a strong working relationship with any member of the C-Suite.
In a survey of 300 UK CFOs and 200 Financial Controllers of firms with revenue between £50million to £5billion, undertaken in March 2025, the most common response regarding how CFOs view their relationship with their HRD was ‘neutral’ - suggesting they communicate on operational matters but haven’t yet formed a more strategic alliance.
Those that said they do have a strong working relationship with the HRD, say they benefit from stronger organisational culture and employee retention. Key benefits cited by these respondents are improved decision-making driven by better access to workforce data and insights and closer alignment between the finance functions and the business’s commercial objectives.
The survey found that overall, fewer than half of CFOs feel that they have a strong working relationship generally with their fellow executives, with 50% saying they don’t have a strong working relationship with any member of the C-Suite.
The findings indicate that board members are more siloed than they should be if they want to successfully drive organisational change successfully.
CFOs’ relationships with their HRDs were second to last, with only IT Director relations faring worse (65% stated that they don’t have a strong working relationship).
This lack of strong relationships day-to-day translates into poor boardroom alignment – with ‘lack of strategic alignment in the boardroom’ the most-selected answer to the top challenge they anticipate they will face over the next 12 months.
Katie Nightingale, Director and Head of People Advisory at Grant Thornton, commented:
“A strong working relationship between finance and people functions is critical. It's concerning, though not necessarily surprising given how busy both are, to see that fewer than half of CFOs report having this with their HR counterparts. CFOs should be leveraging the unique perspective and viewpoint that HRDs often have, given their role in the heart of an organisation, to benefit their business overall and help drive the organisation forward.
“To build high-performing teams, CFOs need to adopt a strategic, holistic approach to workforce planning. Working with their HR counterparts, CFOs need to be continuously assessing current and future capabilities, addressing skill gaps through development, hiring, or outsourcing, and fostering a culture of career ownership are essential. CFOs who embrace this adaptable mindset will be the ones who build the strongest teams in the long run.”
Simon Davidson, Consulting Partner at Grant Thornton, added:
“Today’s CFO is no longer just the financial steward - they’re now at the centre of everything from digital transformation to the skills agenda and sustainability reporting.
“Paradoxically, this broader scope can leave CFOs with less time to engage with the stakeholders who lead in each of these areas, whether that’s the HRD or IT Director. Too often, we see this communication only happens when tensions arise, rather than being embedded in day-to-day leadership.
“Making space for these strategic conversations should be non-negotiable. Finance business partners can help to bridge siloes, but only if there’s strong alignment at the top.”
