CFO Insights: How to attract the next generation of finance talent
Business finance functions face a startling shortage of young talent. Baby boomers are retiring, and younger accountancy professionals are increasingly ready to quit, threatening a global finance talent crunch. According to various research:
- 17% decline in the number of accountants and auditors in the US between 2019-2022.1
- 5% decline in the number of new student accountants in the UK between 2018-2022.2
- 19% decline in the number of graduates joining accountancy firms in Australia between 2010-2020.3
Many accountants are considering leaving the profession as they feel they spend too long on repetitive, low-value manual tasks. Some aspire to pursue more strategic roles, while others seek a better work-life balance. Finance leaders must act urgently to protect their organizations.
"Employee engagement and development are the best tools we have to build a happy, loyal, and productive team." - Greg Heller, CFO, Motus
In this CFO Insights edition, we dive into recent research to understand the values and behaviors of younger generations. We also get insights from top CFOs to explore their strategies to bridge the talent gap. Download it today.
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Source 1: Wall Street Journal
Source 2: The Financial Reporting Council
Source 3: CPA Australia
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