Perspective #02 Recognising Advisory Presence in Finance Teams
The sound of trust leaving the room.
A CFO without advisory presence is just an expensive calculator.
And companies are starting to realise how costly that really is.
Picture a finance team where every third seat is empty.
Not because of restructuring, not because of automation — just turnover.
That’s not theory. In 2024, Adidas reported 17 711 employee departures, a 30 % turnover rate, according to its ESRS S1 “Own Workforce” disclosure (Annual Report 2024, pp. 279–280).
Most of those exits came from seasonal retail roles — manageable.
But leadership isn’t seasonal.
When exits reach the C-suite, the cost compounds fast.
Across major listed companies, CFO turnover remained at record levels — 16 % in 2023 and around 15 % in 2024 (Russell Reynolds Associates, Global CFO Turnover Index).
Average tenure has shortened to about 5.8 years, the lowest in six.
Behind those numbers lies something deeper: not skill shortages, but credibility compression.
Boards aren’t just losing finance leaders — they’re losing advisory presence.
Why Advisory Presence Matters
Technical accuracy is the baseline in finance leadership.
What differentiates enduring leaders is advisory presence — the ability to influence, build trust, and offer foresight under pressure.
Research on executive transitions consistently shows that most failed hires are not caused by technical incompetence but by behavioural or cultural mis-fit — estimates range from 60 % to 70 % (Leadership IQ 2017; HBR Analytics Services 2019).
Replacing a senior executive is expensive.
Industry estimates vary: benchmarks from SHRM and Harvard Business Review place replacement costs at two to four times annual salary,
while some studies suggest even higher multipliers once lost opportunity and team disruption are included.
Patterns that Reveal Advisory Presence
Behavioural intelligence analysis — reveals consistency, motivation, and credibility under stress. It distinguishes leaders who can guide and retain teams from those who merely deliver compliance.
Response to ambiguity — whether a leader stays in the safe lane or demonstrates curiosity and foresight.
Reputation across functions — are they recognised as a trusted partner or reduced to a number-keeper?
Retention signals — teams disengage when leaders provide compliance without strategic guidance.
Illustrative Case
In one board-level search, a technically flawless CFO candidate failed to progress.
His financial accuracy was unquestionable, yet his long, rigid responses and minimal peer engagement raised concern.
The board deemed him credible on paper but lacking the advisory presence needed to influence cross-functional decisions.
It was not competence that failed him — it was behavioural resonance.
Conclusion
A CFO without advisory presence is just an expensive calculator.
Advisory presence is what turns finance from bookkeeping into strategy.
Retention is merely the side effect.
The real gain is sharper decisions — and a leadership system that still holds when numbers no longer do.
References | Sources & Signals
Adidas AG (2024). Annual Report 2024 – ESRS S1 Own Workforce (pp. 279–280).
Russell Reynolds Associates (2024). Global CFO Turnover Index 2023 – S&P 500 By the Numbers.
CFO Brew (2025). CFO Turnover at Large Companies Stayed High in 2024.
SHRM (2023). Toolkit: Calculating Turnover Costs.
Harvard Business Review Analytics Services (2019). The High Cost of a Bad Hire.
Leadership IQ (2017). Why New Hires Fail.
CFO.com (2025). Employee Turnover Rate Eased to 18 % in 2024.