Skilled employee retention still biggest issue for CFOs
Finding and retaining skilled finance and accounting professionals is the top management concern for Australian chief financial officers (CFOs), according to a new survey by recruitment firm Robert Half.
The survey found that more than half of the 200 CFOs surveyed expected to add new finance and accounting professionals this year, mainly to increase headcount for new projects and domestic company investment plans.
In Victoria and NSW two-thirds of business leaders plan to grow their teams within the next year, and in Queensland and Western Australia hiring intentions are between 42 and 44 per cent, Robert Half director, Andrew Brushfield, said.
Despite this 94 per cent of CFOs found it challenging to source appropriate talent and 89 per cent were concerned about losing their top employees.
Commenting on the impact on remuneration due to the skills shortage Brushfield said, "more than two-thirds [hiring managers] are willing to negotiate salary with top candidates than they were in previous years."
"Highly skilled individuals can negotiate salaries as firms seek out the best talent. Organisations also need to think of creative ways to retain them for the long-term."
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