UK finance directors are worried about losing their top talent as a professional talent war breaks out among finance firms.
Of over 200 finance directors surveyed by recruiter Robert Half, 38 per cent said a major internal concern for 2016 was keeping hold of talent. The headache for firms was evident last year – 58 per cent of finance directors said in-demand workers had been lured away by firms offering better pay in 2015.
Managing workloads was a slightly bigger worry with 39 per cent of finance chiefs citing it as a concern. Robert Half attributes the demand for talent to rising growth aspirations at businesses and increased demands from regulators, which leads to a bigger need for compliance workers.
The third biggest headache facing finance directors is delivering growth and efficiency targets – reported as a major concern for 2016 by 36 per cent of them.
“Increased legislative compliance requirements combined with growth goals is feeding the demand for talented, highly skilled professionals. However, with the growing war for talent, retaining professionals with the right skills to cope with the extra workload will prove challenging and will add to the day-to-day pressures that CFOs and FDs face,” said Phil Sheridan, managing director at Robert Half UK.