Personiv, a leading provider of finance and accounting outsourcing solutions, recent-ly released a new CFO Pulse report that highlights a worsening accounting talent shortage, with 83% of senior leaders acknowl-edging the scarcity, up from 70% in 2022. From unfilled roles to the lengthening hiring process, the survey provides data on what matters to chief financial officers. It contains new data on the state of the finance and accounting talent shortage and explores trends in finance and accounting talent acquisition to shed light on how CFOs and finance leaders are mitigating the challenging environment. The 2024 survey also offers insights and explores strategies to mitigate the lack of tal-ent and achieve efficiency, cost savings, and business focus. CFOs are facing more challenges than ever before–from increased cybersecurity risks to global supply chain management. Contend-ing with unfilled roles and a lack of skilled accounting professionals can disrupt business-es’ processes, leading to increased workloads for existing staff, delayed financial reporting, heightened risks of errors, and employee burn-out.
Key findings from the report include:
- Talent Shortage Intensifies: 83% of senior leaders report a talent shortage, with 10% stating it’s worsening.
- Outsourcing on the Rise: 90% of surveyed CFOs outsource some accounting func-tions, leveraging specialized talent to maintain efficiency and focus on strategic goals.
- Cautious AI Adoption: While AI offers potential, finance and accounting leaders are careful with its implementation, highlighting a blend of human expertise and technology as the optimal solution. “The accounting talent shortage is real, and companies are unquestionably looking for new ways to support and scale their teams. Understanding and exploring all options for filling roles without diverting focus from larg-er goals is crucial,” said Matt Wood, global head of finance and accounting outsourcing at Personiv.
The survey participants included 278 US finance and accounting leaders from over 20 industries, including advertising, agriculture, finance, and technology, participated in the survey. Respondents represented diverse com-pany sizes, with significant input from deci-sion-makers directly involved in hiring.
The survey explores how leaders are reducing labor costs and decreasing overhead by accessing global talent and increasing com-petitiveness. This report highlights key trends in 2024. With more than 35 years of experience, Personiv builds customized, virtual accounting solutions that deliver up to 50% cost savings. The company’s GAAP-compliant talent, and state-side client relations ensure quality, cohesion, and results. Personiv is a division of eClerx.
Learn more at personiv.com.
