Bridging the finance skills gap

8 reasons why you need to develop your finance staff before it's too late

Today's finance professionals analyze data, recommend various courses of action and predict business outcomes.

This responsibility requires a higher level of skills: analytical thinking, persuasive communication and a mastery of the latest industry trends and tech.

Does your finance staff have the necessary skill sets to lead as strategic partners to the business? If not, now is the time to focus on developing your finance organization.

1

Let's look at the facts: Business leaders are relying more on the finance team. 47% of finance executives said that the business leans more heavily on the finance function for support with strategic decision-making.1

2

Digital transformation, and its impact on finance, isn’t just coming. It’s here. 10% of CFOs surveyed say their finance team has the skills it needs to support the organization’s digital ambitions.2

3

There is a shortage of analytical skills needed for decision-making. 54% of CEOs point to the lack of analytical talent as the primary reason the data they receive is inadequate.3

4

With baby boomers retiring, the talent pool is shrinking. 71% of finance leaders surveyed said they face tough competition to recruit the best analytics and digital talent.4

5

Retention is a challenge, especially among millennials. 25% of millennials are likely to stay with a company long term (and they make up more than one-third of finance teams).5

6

A fulfilled employee is a productive employee. 34% of the salary for a disengaged employee is lost through tardiness, missed workdays and decreased productivity (and only 13% of employees worldwide are engaged).6

7

Learning is linked to engagement and retention. 94% of employees would stay at a company longer if it invested in their career development.7

8

Employees seek guidance and focus with learning goals. 56% of employees say that they would spend more time learning if their manager directed them to complete a specific course to gain or improve their skills.7

Invest now, or pay the price later.

Help your finance organization bridge the skills gap to become a strategic partner in business success.

The AICPA provides learning programs for finance and accounting professionals. With over 650,000 members and students in 179 countries, we are the most influential body for finance and accounting professionals in the world and an ideal learning partner for global organizations.

Let us help you assess competencies, identify gaps and design a learning plan to help you develop and retain top talent, keep up with technology and transform your business.

"The ability of the talent development function to positively affect culture and help plan and execute change makes it a dynamic player in driving organizational agility, innovation and growth that contribute to lasting market leadership."6

Tony Bingham CEO
Association for Talent Development

Sources

1 CGMA, Priming the Talent Pipeline. Sourced from Dun & Bradstreet, The Evolution of the Modern Financial Leader, 2017. cgma.org

2 Agile Finance Unleashed: The Key Traits of Digital Finance Leaders. AICPA & CIMA and Oracle, 2019. cgma.org

3 PWC, 22nd Annual Global CEO Survey, 2019. pwc.com

4 Finance Redefined: Workday Global Finance Leader Survey, 2018. cfothoughtleader.com

5 CEB’s 2016 Global Labor Market Survey, Pai Mizar, 2017.

6 Five Ways to Improve Employee Engagement Now. Gallup. gallup.com

7 LinkedIn Learning. 2018 Workplace Learning Report, 2018. learning.linkedin.com

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