CFOs, Is Your Team Productive or Efficient — Or Both?

What is the difference between productivity and efficiency? And do CFOs really need both to succeed? 

During this week’s episode of The CFO Show, Brian Krause, CFO of Community First Solutions explained that while productivity is measured by the amount of work that’s done, efficiency represents how quickly tasks are completed considering the available resources. Brian has over 20 years of experience in building finance teams, and he is also a three-time CFO. 

Employees often assume productivity is about doing more with less. This approach puts your workforce at a higher risk for burnout — especially if you’re expecting people to take on more work without adding resources.

Efficiency vs. Productivity: The Difference, and Why it Matters

When you focus solely on productivity — the amount of work done — you risk losing sight of what truly matters.

A productivity focus can result in an overemphasis on how many tasks are completed, regardless of the value of each task, ultimately leading to potential burnout across your finance team. 

But focusing on efficiency — how quickly tasks are completed well within existing resource constraints — you can optimize your team’s expert time and talents to focus on tasks that will drive your business forward. 

By shifting your focus to efficiency, you help move the needle for your business, save your team time on tedious tasks, and build sustainability (and scalability) into your organization’s structure. 

But to build a truly efficient business, you need to start with culture. 

Fostering an Efficient Culture

In order to maximize results sustainably, CFOs must find a balance to optimize results. But how can leaders enhance workplace efficiency and set employees up for success? We’ve got some ideas:

Build a habit of asking questions. You won’t always know where (and how) your team can be more efficient. One way to identify pain points is by staying curious about your team’s experiences with existing processes. 

Set realistic expectations. As you give people the permission to explore different ways they can improve efficiency, acknowledge that implementation takes time. Workflow might get worse before it gets better. It might serve your team well to keep old processes for a bit while you’re building and perfecting new ones. 

Keep risk management in mind. There’s always a risk whenever you’re trying something new. Your risk level also varies depending on budgets, the economic climate and team size. Ultimately, CFOs should keep long-term growth goals in mind. 

On our latest episode of The CFO Show, Brian shares how retrospective meetings, temporary but decreased accuracy, and getting rid of third-party vendors boosted efficiency and productivity for his team. Tune in to our conversation to learn how you can leverage these same strategies to drive optimal results.

Contribute to the Research: The State of Strategic Finance 2025…

The State of Strategic Finance 2025 survey takes the pulse of finance teams to gauge how they can optimize their people, processes, and technology in the face of tight budgets and challenging market conditions. The survey takes less than 10 minutes to complete. By contributing to the research, you'll get early access to the report.

In case you missed it…

Storytelling is becoming a valuable asset in finance. Our previous conversation with ColdBlock Technologies Inc. CFO Akash Kapoor addressed how simplifying data with digestible narratives is a critical skill for driving growth. He shared his take on data-driven presentations, enhanced visuals, and other strategies for turning numbers into engaging stories.

What’s next…

Next week’s segment covers The CFO Show’s conversation with 10 other CFOs about their most pressing priorities and challenges in the upcoming year. Together, the finance executives address future AI investments, industry market trends, and other areas that non-finance leaders might overlook in business.