The CFO Shortage - A look at CFO Labor Market Trends


Looking at Google data, we see that between August and October 2022 there has been a significant uptick in searches for the terms “CFO” and “chief financial officer”—50% and 22% respectively. But even though Googling CFO is the simplest way to see these trends, it’s not the only confirmation that there is increasing demand for CFO candidates.


That rising demand is for a particular kind of CFO. Let’s call it the modern CFO. Let’s look at the current landscape as it has evolved along with businesses over the last couple of decades.


From Accounting to Financial Analysis and Planning – How the CFO role Evolves


Consider your basic business that has a product or service to sell. There is an initial investment to create your product. Revenue begins to flow. The business has someone on staff who has the accounting skills to keep track of revenues, expenses, and pay the taxes. This person may be called the controller, or maybe even the CFO. Over time, as the company grows, it begins to invest its profits in order to increase the business’s capacity, enter new markets, or increase the customer base. Instead of just tracking revenue and expenses, the CFO value to the company begins to shift from recording historical data to focus on driving long term performance of the company and how best to leverage its resources to accomplish the intended results.


The individual who started out as the controller is now expected to provide some financial analysis on a variety of business issues. What is the company’s breakeven point? What are the margins per customer or product? To increase capacity, should we increase the labor pool, invest in new equipment, or outsource? What is our return on this investment?  Should we finance our expanded capacity with operating cash flow, debt or raise through equity?


This is the point in the life of the business where the accounting and finance function begins to evolve from record keeping (historical) to helping the business make decisions with a financial approach (future-focused). In many instances, the individual in the controller role may not have the skills needed to provide this type of value.


Where Does the Modern CFO Exist?


Most large privately held or publicly traded companies have historically been a great training ground for modern CFOs. The accounting and finance functions not only ensure the accuracy of the financial statements, but they also work with other functional areas to help them manage financial results, as well as understanding the financial drivers of the business. This exists as these organizations require another level of financial sophistication in order to attract outside investors, board members, and maintain compliance as a public company. Most accounting and finance individuals who are trained in this world learn the best practices of their craft here.


What Does the Modern CFO Offer?



The modern CFO who drives business success is expected to bring the following to the table:

  • Economic approach to decision making – This is different from an accounting approach. It includes thinking about where to acquire more capital, whether to make investments etc.
  • Participation as an executive leader – While they might be officially in charge of the finance function, they now need to share their overall business acumen with the company to influence other decisions that are perhaps outside of their scope of responsibility. In many organizations, the CFO will even interact with customers in contract review/negotiation, but also for customer retention.
  • Ability to provide business partnering – These internal partnerships reflect the leadership of the modern CFO. The CFO and their team, partners with manufacturing, sales, marketing, and others to help them understand the decisions they make from an economic perspective, and how analysis and projections inform the interdependent web among all of the functional areas within a company.
  • Team management and development – The CFO’s team is on the front lines of business every day, having an impact on all functions. The CFO wants a team of financially savvy people who also have the emotional intelligence to help them partner and engage with other teams. The litmus test for a good financial team is whether they are being invited to meetings in other areas of the business, or if they have to invite themselves.


Supply and Demand – CFOs Who Drive Business Success to the Next Level


The demand for modern CFOs continues to increase based on a few critical drivers, while the supply isn’t keeping pace.


An increase in demand is being created by private equity firms acquiring companies who are for the first time accepting institutional investment. When this occurs, these companies typically need to adopt a new governance structure with a formal board, and since their new investors are financially astute – they normally desire the modern CFO to ensure both accurate financial reporting, and this modern CFO to help drive financial performance. A good portion of the companies that the PE firms acquire under this scenario don’t already have a modern CFO in the seat, resulting in the need to recruit an outsider.


In addition, medium sized family owned and/or founder led companies are increasingly adopting financial and governance best practices that were once only employed by public or PE backed companies. These shifts normally require a modern CFO which in turn is driving more demand for them.


Their pull on the dwindling supply affects the rise in demand and the subsequent shortage we are seeing. This article in the Association of Accountants and Financial Professionals in Business dives into the increased expectations for company CFOs.


The good news is that many financial officers currently working in high-stakes public companies want to take the skills they’ve learned over time and apply them in a business where the intense risk of projection-failure and the massive stress of issuing quarterly earnings won’t shorten their lifespans.


The bad news is that at this point that supply is dwindling and there are fewer truly experienced modern CFOs to meet the continually rising demand for their services.


CFO Recruiters – The Search for Your Next CFO


It is possible to recruit the modern CFO down from the heights to a company that wants to be more competitive, financially strategic, and continue to grow. Many CEOs are unsure of how to determine what CFO skills are needed in their company, let alone how to evaluate CFO candidates. If you have been searching for the CFO to move your business forward and are finding it tough to find the right person for the job, you are not alone. This is where an executive search firm with the right expertise can help a company not only align the company needs with the skills needed in the role, but also how to effectively run recruitment for this critical search.


This search is perhaps the most challenging there is, especially these days. Bringing in the expert on this will free you up to fill your countless other roles and focus on your endless list of important leadership tasks. Ending up with the right CFO will yield such growth that your search will have paid for itself in no time.


Check out our experience helping great companies hire modern financial leaders here!

By Effie Zimmerman January 29, 2026
Chief Executive Officer ABOUT THE COMPANY EC Electric is an innovative electrical contracting firm dedicated to powering lives across various sectors, including mission-critical AI data centers, semiconductor chip manufacturers, industrial, federal work, commercial, and renewable energy projects. With a commitment to providing high-quality electrical solutions, the company specializes in cutting-edge technologies and sustainable practices. Known for its robust service offerings, including electrical construction, maintenance, and energy management, EC Electric stands out in the marketplace by focusing on safety, efficiency, and customer satisfaction. This $500 million-a-year company is part of the E-J Group of Companies across the nation, celebrating our 127th year of private ownership. Our mission is to create a brighter, more electrified future while upholding our values of integrity, safety, quality, equity, fulfillment, and profitability. ABOUT THE POSITION As the Chief Executive Officer , you will be the visionary leader of EC Electric, steering the company's strategic direction and operational efficiency to achieve sustainable growth and innovation in the electrical contracting industry. You will collaborate with the executive team, employees, and stakeholders to enhance our reputation as a leading provider of electrical services and solutions, ensuring we remain agile and responsive to market demands. DUTIES & RESPONSIBILITIES Strategic Leadership: Develop and articulate a clear vision and strategic plan that aligns with EC Electric's mission to drive profitability and market expansion. Initiate strategic partnerships and alliances that leverage EC Electric's capabilities in renewable energy and advanced electrical systems. Operational Excellence: Oversee operational processes, ensuring the execution of projects aligns with EC Electric's commitment to safety, quality, and timely delivery. Utilize data-driven insights to improve operational efficiencies and manage resources effectively across all business units. Innovation and Sustainability: Drive the adoption of innovative technologies and sustainable practices within the company to enhance service offerings and reduce environmental impact. Encourage a culture of innovation, empowering teams to explore new solutions that meet the changing needs of clients in a dynamic industry landscape. Stakeholder Engagement : Cultivate long-term relationships with clients, contractors, and community partners to enhance visibility and reputation in the industry. Represent EC Electric in industry associations and public events, positioning the company as a thought leader in electrical contracting and energy solutions. Financial Management: Ensure fiscal responsibility by overseeing budgeting processes, expense management, and financial forecasting to meet the company’s growth objectives. Identify opportunities for cost efficiencies and revenue generation through new service offerings and market penetration strategies. Workforce Development: Promote a positive and inclusive workplace culture that prioritizes employee engagement, safety, and professional development. Sustain and expand training/mentorship programs to develop future leaders within the organization and ensure a skilled workforce ready to tackle evolving industry challenges. Compliance and Governance: Ensure compliance with all industry regulations, safety standards, and environmental practices, maintaining EC Electric’s strong reputation for integrity and excellence. Implement risk management strategies to safeguard the company’s assets and sustain its operational integrity. QUALIFICATIONS Bachelor’s degree in business administration, engineering, or related field; MBA or relevant advanced degree preferred. 15+ years of experience in senior leadership roles within the electrical contracting or related construction industries. Proven ability to drive business growth and operational success in a competitive environment. Strong analytical and problem-solving abilities, with a focus on data-driven decision-making. Excellent communication and interpersonal skills, adept at fostering collaboration and motivating teams. Advantages of Working at EC Electric: Leading electrical contracting organization focused on innovation and sustainability. Commitment to employee development and career advancement opportunities. Comprehensive compensation and benefits packages, including health and wellness programs. Supportive corporate culture values community engagement and social responsibility. Opportunity to work on high-impact projects that shape the infrastructure of communities. Interested in Learning More? 180one has been retained by EC Electric to manage this search. If interested in learning more about the opportunity, please contact Nicole Brady at 503-699-0184 or via email at nicole@180one.com . EC Electric is an Equal Employment Opportunity Employer and ensures equal employment opportunity for all persons without discrimination based on race, color, religion, sex, sexual orientation, national origin, age, disability, marital status, citizenship, or any other characteristic protected by law. Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to use their hands and talk or hear. The employee is frequently required to stand, walk, sit, reach with hands and arms; climb or balance, and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 50 pounds. Work environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This includes the ability to have close (clear vision 20 inches or less) and distant vision (clear vision 20 inches or more), Depth Perception (three-dimensional vision, ability to judge distances and spatial relationships); Ability to Adjust Focus (ability to adjust the eye to bring an object into sharp focus), and the ability to see color. The noise level in the work environment can be quiet, moderate, or loud.
By Greg Togni January 12, 2026
Few decisions carry more weight, or more emotional friction, than upgrading management. Whether in a private equity–backed business or a closely held private company, leaders know the decision matters. They also know it’s uncomfortable. Incumbent executives may have helped close the deal, built the business, or earned deep loyalty from employees and customers. In that context, waiting can feel prudent, even humane. Yet across ownership structures, cycles, and industries, the evidence points in one direction: delaying action on leadership misalignment quietly erodes value long before performance visibly breaks. What the Data Consistently Shows Research across management transitions paints a consistent picture. Roughly half of PE-backed companies replace the CEO within the first two years of ownership, with many changes occurring in the first year. Studies of executive transitions show failure rates between 30% and 40% in the first 18 months, most often driven not by incompetence but by misalignment- on mandate, pace, or priorities. The lesson is not that boards are impatient. It’s that leadership fit matters more than familiarity, and a misfit rarely corrects itself with time. The Most Expensive Period Is After Doubt Sets In By the time a board or ownership group agrees that a leadership upgrade may be needed, value erosion is often already underway. Growth initiatives slow. Decision-making becomes cautious. Reporting grows heavier as leaders explain results instead of driving them. High performers sense uncertainty and begin to disengage. In PE-backed environments, this dynamic plays out faster and with fewer buffers. But private companies experience the same slow bleed, just over a longer horizon. The “One More Quarter” Fallacy “Let’s give it one more quarter” is one of the most expensive sentences in governance. Boards and owners often justify delay by pointing to an initiative in flight, system implementation, or temporary market headwinds. But studies of executive performance show that trajectory matters more than absolute results. If clarity, momentum, and conviction are not improving, time rarely fixes the issue. A common pattern: leadership change is debated for several quarters. When a new executive finally steps in, they make decisive moves within 60 to 90 days, moves that had been discussed, analyzed, and deferred for a year. The opportunity cost of that delay is real, even if it never appears cleanly in the P&L. Missed Windows Are Permanent Losses The most dangerous cost of waiting is not short-term underperformance; it’s a missed opportunity. In PE-backed companies, similar windows appear around add-on acquisitions, operational transformations, or pricing resets. A capable but misaligned leader can miss those windows by moving too slowly or pulling the wrong levers. Once missed, those opportunities rarely reopen on the same terms. Loyalty Is Expensive, But So Is Delay Many delayed leadership changes stem from understandable loyalty: to founders, long-tenured executives, or leaders who were instrumental during diligence or early growth. But fiduciary responsibility ultimately outweighs emotional equity. The most effective boards separate gratitude for past contributions from clarity about future requirements. They also recognize that earlier action is usually kinder. Early transitions allow for controlled narratives, thoughtful role changes, and dignified exits. Late-stage changes tend to feel abrupt, personal, and destabilizing. A Simple Test for Owners and Boards One question cut through most debates: If we were hiring for this role today, knowing what we now know, would we make the same choice? If the answer isn’t an unambiguous yes, delay rarely improves the outcome. Another signal is how leadership discussions consume time. When meetings shift from strategy and growth to coaching, shielding, or compensating for leadership gaps, the decision has often already been made, just not acknowledged. Why Smart Owners Explore the Market Early High-performing PE firms, and increasingly, sophisticated private owners, often explore the executive market before a final decision is reached. This isn’t about undermining management; it’s about sharpening judgment. Seeing the caliber of available talent reframes the question from “Can this work?” to “Is this the best we can do?” In many cases, an external perspective provides clarity faster than another quarter of internal debate. Timing is Everything Upgrading management is never easy. But the evidence, data, deals, and lived experience are clear: indecision is rarely neutral. The organizations that consistently outperform aren’t the ones that change leaders most often. They’re the ones who change them on time. And in a world of compressed timelines, competitive markets, and rising expectations, timing isn’t just a leadership issue; it’s a value creation issue.
By Effie Zimmerman January 5, 2026
General Counsel ABOUT THE COMPANY A-dec is the premium leader in the dental equipment industry, designing and manufacturing products that span dental chairs, lights, handpieces, furniture, air management, infection control, and delivery systems found in dental offices and operatories. With over 1300 employees and headquartered in Newberg, Oregon, A-dec’s familial culture and values have been attributed to their commitment to the Newberg community and its employees through various investments and programs. ABOUT THE POSITION The General Counsel (GC) will manage legal matters for the organization and affiliated entities, including all litigation defense coordination, intellectual property, business development, contracting, unfair trade practices, anti-trust, corporate governance, and the coordination of legal matters managed by outside counsel. GC will provide legal advice to management, provide counsel on negotiating corporate transactions, and prepare related documentation. Provide strong leadership, guidance, and pragmatic business acumen, recognizing the business consequences of legal advice. GC is a strategic and innovative thinker who can develop and articulate a clear understanding of the company’s strategy from all perspectives and find creative solutions to complex legal problems with a strong ability to balance legal and business risk. DUTIES & RESPONSIBILITIES Corporate Governance & Strategy Serve as a trusted legal advisor to the executive leadership team on corporate governance and risk management. Oversee corporate governance matters, including board support, entity management, and compliance with applicable corporate laws. Support business development, joint ventures, and other strategic transactions from due diligence through integration. Board meeting preparation and serves as acting Secretary in Board of Directors’ meetings and prepares all necessary Board and Shareholder documents. Regulatory & Compliance Partner with corporate regulatory leaders to ensure compliance with U.S. and international laws and regulations applicable to medical/dental devices, manufacturing, quality systems, and global distribution. Interface with corporate regulatory leaders to manage regulatory risk and ensure compliance. Develop, implement, and maintain company-wide compliance policies and training programs. Commercial & Contract Management Draft, review, and negotiate a wide range of commercial agreements, including supplier, distributor, licensing, manufacturing, and customer contracts. Support global sales and supply chain operations with practical, business-focused legal guidance. Establish contract standards and processes to improve efficiency and risk management. Intellectual Property Oversee protection, management, and enforcement of the company’s intellectual property portfolio, including patents, trademarks, and trade secrets. Work with internal teams and external counsel on IP strategy aligned with product development and global expansion. Litigation & Risk Management Manage all litigation, disputes, and claims, including product liability and commercial matters. Select and manage outside counsel, controlling costs and ensuring high-quality outcomes. Oversee risk mitigation strategies. Legal Operations Build and lead the legal function, including internal staff and external legal resources. Develop budgets, manage legal spend, and improve legal operations and processes. Foster a culture of ethics, compliance, and sound risk judgment across the organization. MINIMUM QUALIFICATIONS Knowledge, Skills and Abilities Strong business acumen with the ability to balance legal risk and commercial objectives. Deep understanding of regulatory, compliance, and quality requirements in a manufacturing environment. Excellent negotiation, communication, and leadership skills. Practical, solutions-oriented mindset with high ethical standards. Ability to work collaboratively with business clients and proactively become involved in business initiatives. Ability to interact effectively with associates at all levels in all businesses across North America and in countries where A-dec has a presence. Ability to interface and negotiate with legal representatives at dealers and suppliers. Ability to communicate clearly, concisely, and effectively. Good listening skills. Skilled at working independently and leading critical matters to conclusion with little supervision, while coordinating with other attorneys and stakeholders. Demonstrated ability to quickly establish trust and rapport within A-dec. Strong leadership skills to manage projects and influence decisions, with the ability to be persuasive in reinforcing the best interests of the company. Understands business implications of decisions. Strong analytical, organizational, and time management skills. Travel, including internationally as needed, to perform the duties of the job. Expert legal document drafting and research skills. Education and Experience Requires Juris Doctor (JD) from an accredited law school. Must be a member of the bar in good standing; admission to the Oregon State Bar preferred. 10+ years of legal experience in a relevant law firm or corporate setting. Experience as an Associate, Assistant, or General Counsel is preferred. Experience in medical devices, pharmaceuticals, or other healthcare-related experience is desirable. Experience in a manufacturing business is preferred. Experience in a global business with international distribution is preferred. Interested in Learning More? 180one has been retained by A-dec to manage this search. If interested in learning more about the opportunity, please contact Lisa Heffernan / 971.256.3076/ lisa@180one.com .
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