How do CFOs feel about the election?

As the United States gears up for another pivotal election, the anxiety surrounding its potential outcomes is palpable—not just among voters but also within the ranks of corporate leaders. A recent survey from Deloitte, which polled over 200 CFOs from organizations boasting revenues of at least $1 billion, reveals that a significant 58% of these financial executives view the upcoming election as “extremely or very consequential” for their companies. This sentiment underscores the pervasive uncertainty that often accompanies election cycles, particularly in today's complex political and economic landscape.

Interestingly, this election year has shifted some concerns among CFOs compared to previous cycles. In the past, issues like tax policy dominated discussions. However, this time around, workforce issues have taken center stage. Approximately one-third of CFOs highlighted the need for federal focus on labor-related matters, signaling a growing recognition of the challenges that organizations face in attracting and retaining talent. Recent governmental actions, such as the Department of Labor's revisions to the independent contractor standard, have further heightened these concerns, prompting CFOs to contemplate the implications for their own workforces.

Despite the relative stability of certain issues, the overarching mood among CFOs appears to be one of caution. Economic indicators do not inspire optimism; only 14% of respondents rated the North American economy as “good,” and just 19% anticipated an improvement within the next year. This bleak outlook is compounded by worries about tariffs and tax policy, which were identified as significant economic concerns by a substantial portion of respondents. Geopolitical tensions and the broader economic environment remain at the forefront of CFOs' minds, yet the stress stemming from potential changes in government policy is perhaps more palpable than in previous elections.

As these financial leaders navigate their organizations through uncertain times, it’s clear that the upcoming election weighs heavily on their minds. The reality is that CFOs are human too, grappling with the same anxieties that many of us feel as we consider the implications of political outcomes. While some individuals manage to remain blissfully unaffected—only 3% of CFOs reported that the election's result would have no impact on their organizations—the vast majority are feeling the strain.

In the coming weeks, as the election approaches, CFOs across industries will continue to analyze the political landscape and its potential impact on their businesses. The hope is that once the votes are counted, and the new administration is established, clarity will emerge, allowing these executives to strategize with renewed focus. Until then, they will need to balance their strategic responsibilities with the realities of an unpredictable electoral process, reminding us all that leadership in times of uncertainty requires both resilience and adaptability.