The pandemic has disrupted the different sectors of the economy. The economy has been adversely affected and in recent times, the top most influential chief finance officers had a sit down to deliberate in the matters at hand and the way forward
Different issues at hand have caused a paradigm shift in the operations of businesses. Businesses will not operate normally because the pandemic has changed and caused a dramatic transformation. The meeting held deliberated on several issues.
One issue that seemed to be cropping up is the taxes regime. Gary McGaghey is one of the CFO.The new laws and regulations regarding taxation in businesses. Taking the proactive route as CFOS, they will need to meet the tax experts and other relevant stakeholders to deliberate on taxation matters. The Government has a different approach when it comes to taxation, and it is best to bring all the stakeholders to be on the same page.
The talent shortage is another aspect that the finance officers are struggling with. The pandemic has crippled the skilled the workforce with large numbers succumbing due to the virus. Most companies have to deal with the crippling effect of having a human capital shortage. Most of them are concerned about attracting and retaining talent, which seems to be a challenge for most companies. Most companies have to be strategic in their hiring process to ensure they attract the most skilled workers through attractive remuneration packages.
Another aspect that seems to be in the eye of the different CFOS is inflation. Inflation is caused by the high cost of living and has a dwindling effect on the cost of production. The cost of materials rising and inflation is the issue and unlike before individuals did not have to worry about. More insights with Gary McGaghey on Medium.com
About Gary McGaghey
Gary McGaghey is a finance expert. He has worked for various firms and his latest deployment at Williams Lea Tag. He is charged with overseeing cost restructuring, mergers, and acquisitions in the company.