Personiv has unveiled a new report on the finance and accounting talent market.

Date – 06-Aug-2024

The CFO Pulse Survey provides insights into the persistent talent shortage in finance and accounting.

Personiv, a leading provider of finance and accounting outsourcing solutions, has released its latest CFO Pulse report, revealing a worsening talent shortage in the accounting sector. The survey shows that 83% of senior leaders are grappling with this issue, a significant increase from 70% in 2022. The 2024 report delves into the ongoing challenges and offers strategies to address the talent gap, enhance efficiency, and support business objectives.

CFOs are encountering mounting difficulties, including heightened cybersecurity threats and complex global supply chain management. The shortage of skilled accounting professionals is exacerbating these issues, resulting in increased workloads, delayed financial reporting, greater error risks, and staff burnout.

“The accounting talent shortage is a pressing concern, and companies must explore innovative ways to support and expand their teams,” said Matt Wood, Global Head of Finance and Accounting Outsourcing at Personiv. “It is essential to evaluate all available options for filling roles while staying focused on broader organizational goals.”

Key findings from the report include:

• Talent Shortage Escalates: 83% of senior leaders report a talent deficit, with 10% noting that the situation is worsening.
• Rising Outsourcing: 90% of CFOs are outsourcing some accounting functions to access specialized talent and maintain operational efficiency.
• Prudent AI Use: While AI holds promise, finance and accounting leaders are cautious, emphasizing a balance between human expertise and technology.

To download the full report and gain deeper insights, visit the provided link. Additionally, a webinar hosted by the CFO Leadership Council and sponsored by Personiv on September 18, 2024, will offer a detailed analysis and actionable recommendations on automation and outsourcing solutions.

Survey Participants: The report is based on responses from 278 finance and accounting leaders across over 20 industries, including advertising, agriculture, finance, and technology, reflecting a diverse range of company sizes and hiring decision-makers.