Rational numbers

Arizona CFOs reveal cautious optimism for 2020 — and even beyond By MICHAEL GOSSIE

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ecent Google searches for the term “recession” surged to their highest levels in more than a decade. But don’t tell that to Arizona’s chief financial officers, who have a fairly positive view for the remainder of 2019 and for the next two years. Although early predictions for a downturn in 2019 have not come true, Arizona’s industry leaders are planning for the unexpected while hoping for the best. Results from the 2019-2020 Arizona CFO Spotlight Survey indicate a strong focus on operational efficiency, reputation management, and talent planning. The fourth annual survey was developed by BeachFleischman in collaboration with BOK Financial, Phoenix CEO-CFO Group, Financial Executives and Affiliates of Tucson (FEAT), Pinnacle Plan Design, MOD Ventures, and Contempo HCM — with survey development and support from Ingenuity Marketing Group.

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AB | November-December 2019

WORKFORCE TALENT TRENDS Acknowledging for the fourth year in a row that talent is a major source of concern for companies across all eight industries surveyed, leaders are actively pursuing talent solutions that include: • Referral incentives and more flexible or remote work arrangements. • Absorbing increased mandated wage or benefits costs to maintain competitiveness. • Pursuing more in-house and online training to onboard or promote workers. • Deferring hiring in favor of investments in efficient processes and automation. • Re-assignments and promotions from within to expand career tracks and improve retention. CAPITAL INVESTMENTS ON THE RISE Because financing terms are attractive, leaders are also acting on long-term capital outlays for plant improvements,