No matter where you look, it’s getting increasingly difficult to find F&A help that has the right mix of abilities. Between the shrinking unemployment rate and a growing demand for talents that far exceed traditional finance skills, companies are continually at a loss to find qualified personnel.
Yet people are an essential component to success in any industry. Businesses require the right staff in place to ensure high-level performance and optimal customer satisfaction. So, what are companies to do when they’re unable to find or retain the high-value workers they need?
The talent war is one of the most pervasive risks organizations face. In survey after survey, executives report having succession challenges and difficulty attracting and retaining top talent.
And it just might get a little harder in 2017. According to the latest Salary Guide for Accounting and Finance from staffing agency Robert Half, salary levels are expected to rise by an average of 3.7% in 2017. It’s a new reality that finance leaders have become all too familiar with: when it comes to modern-day F&A, the power lies with the prospective hire.
Skilled professionals are in high demand and short supply, and employers have no choice but to negotiate competitive compensation packages. Today’s professionals don’t need to ride out long hiring processes; with multiple offers on the table, they’ll opt for the one that is most engaging and financially rewarding.
The Right Source for Top Talent
There’s no doubt that the talent war has been fully waged. So the question is, how can CFOs prepare to win the battle for their organizations? It’s simple: They must find ways to improve access to top talent when they need it, and to better develop internal talent.
Engaging a process transformation company can help businesses put their focus where it matters. With the right partner in place, your organization will be able to:
Reduce workload stress: In finance, talent requirements tend to fluctuate throughout the year, with both quarterly and annual peaks. With a delivery partner, you can easily scale up or down —all with the assurance of meeting specific KPIs. There’s less stress on internal talent, resulting in deeper engagement.
Access specialized talent and focus on higher-value work: Today’s finance staff must have a unique blend of skills, including analytical, communication and problem-solving prowess. Working with a partner you’ll have access to an on-demand workforce that is well versed in all areas of F&A as well as in-demand skills like data analytics. Organizations can move their own people up the F&A value chain and foster the finance skills of the future.
Develop key personnel: F&A providers take care of routine-based finance functions, like Accounts Payable, freeing up executives to prepare mid- and senior-level management for advancement.
Winning the Talent War
As any leading organization knows, business success is all about strategy.
In our conversations with clients, we hear how our partnership has removed much of the HR burden, allowing managers to invest more time in their developing key resources. As finance is our core competency, we have proven systems and processes in place for finding and retaining the right talent for your organization – staff that can deliver the traditional finance skills you require, as well as the higher-level skills that are so in demand in today’s fast-paced, ever-evolving, collaborative working world.
If you’re looking to secure competitive advantage and improve your bottom line by winning the talent war, schedule an appointment today for a location evaluation of your F&A network.