Finance leaders face mounting pressure to meet traditional expectations while addressing a deepening skills shortage. According to Deloitte, 50% of surveyed CFOs cited low employee engagement as a top workforce challenge, closely followed by a lack of skilled finance talent at 45%. The decline in accounting graduates, combined with the retirement of experienced professionals, has intensified the gap and placed additional strain on existing teams. As a result, 44% of CFOs identified increased workload for remaining staff as their biggest concern, with many also worried about maintaining credibility and board confidence. Notably, only 15% of respondents reported no shortage of accountants or finance professionals, highlighting the issue's urgency. To ease the burden, 79% of CFOs plan to deploy generative AI within the next 24 months. Furthermore, many are investing in self-service platforms to enable business users to access financial information independently, reducing the demand on finance teams.
However, 48% of CFOs reported resistance from staff toward adopting new technologies. In response, many are diversifying their recruitment strategies by hiring through staffing firms and reallocating talent from other departments. Additionally, CFOs have become more directly involved in recruitment, recognizing the need for hands-on leadership in talent acquisition. Even with these efforts, finance candidates continue to be highly selective. CFOs say retirement plans, health insurance, and life insurance are top-valued benefits. Yet, 47% of organizations are shifting some of these costs to employees, creating added friction. To stabilize their departments, CFOs must balance AI adoption, strategic hiring, and employee retention. By confronting resistance, prioritizing engagement, and leading hiring efforts, they can mitigate the impact of the talent shortage on finance performance.
