In 2022, CFOs will experience challenges like pricing pressures, talent shortages, new coronavirus variants as well as unclear tax policies. The most complicated concern is the increasing inflation, and CFOs might struggle because they had not been troubled by it before. However, a survey was done amid this troubling business landscape, and it found that getting and sustaining talents and abilities will be CFOs’ essential growth lever in 2022.
About 59% of CFOs are rethinking and strategizing on their pricing structures to deal with the increasing input costs. 30% of them are worried about the tax increment proposals and their prospective effects on their workers, American investments, and job creation.
CFOs find themselves at crossroads based on the converging pressures that influence the basics. The finance leaders can now align with peers and the tax manager to evaluate prospective changes to global and American policy, approach to disruption as well as spotting expansion and development opportunities.
Based on the changing regulatory, risks, and tax policies, CFOs are struggling to anticipate and organize their investments for the unknown. The pandemic speeded up the occurrence of risk events as well as their influence on regulatory modifications. The turbulent risk environment together with Washington’s tension and uncertainty around tax policies signify that CFOs should plan proactively to deal with complex scenarios. Gary McGaghey highlights that interacting with the tax leaders can trigger success in the market because CFOs can respond to some increasing regulations and laws.
Gary McGaghey insists that remarkable tax policy modification will happen because investments are ready to take up these changes since they are substantial and propose to increase the tax rate. He also said that companies should evaluate the influence that a recently signed act on jobs and infrastructure investment has. Gary McGaghey added that more supply chain systems issues, as well as inflation, could interfere with the growth outlook.