As pressure mounts on finance chiefs to provide increased insights and support their organisations in more effective ways, having a resilient and adaptive team behind them has never been more important. And, as it turns out, more challenging.
With the finance function undergoing a drastic transformation, driven by new technology and an ever-expanding remit, chief financial officers are struggling to source the relevant competencies. Just a third of finance leaders (35%) say they have sufficient skills when it comes to strategic thinking, according to a 2023 survey by software firm Blackline. Even fewer are confident in their teams’ technological skills (29%) and ability to analyse data (34%).
To further complicate matters, expectations from young finance professionals in terms of what they want from their career are changing and finance chiefs must adapt accordingly if they are to keep attracting and retaining top talent. In this rapidly shifting landscape, how are CFOs building and scaling their finance teams?