Financial leaders see technology, talent, and security investments as the key to successful work after the pandemic
According to a new survey by Grant Thornton LLP, the Chief Financial Officer (CFO) is launching a new and different type of talent war-employees have higher expectations and greater influence than before the pandemic. Whether they win this “war” may depend on how creative the CFO is while attracting talent and managing investment.
This CFO survey for the second quarter of 2021 -A survey of 239 CFOs and senior financial officers of companies with annual revenues ranging from $100 million to more than $1 billion-revealed some commonalities, each of which has a significant impact on the future of work after the pandemic. For example, nearly two-thirds (64%) of CFOs stated that they are concerned that a shortage of talent will weaken their ability to implement short-term strategies.
“There are clear signs that CFOs are worried about the upcoming talent battle,” said Tim Glowa, head and head of Grant Thornton’s employee listening and human capital services products. “However, there is also conflicting information about taking steps to actually solve the problem. Many organizations say that people should go back to the office, but this is inconsistent with the data that employees actually want.”
Stay competitive in the fast-growing labor market
The results of the survey and recent news indicate that the labor market has undergone drastic changes. Specifically, employees are unwilling to give up the greater flexibility gained during the COVID-19 pandemic, and widespread talent scarcity has increased their influence when considering employment options.
The data detailed in the second quarter survey shows that CFOs are aware of this scarcity: 68% of people agree that the organization may experience a talent shortage in the next 12 months, while 56% of financial leaders say they attract and retain Housing key talent will be the most important human capital priority for their goals…