Recruiting experienced professionals remains a
concern for many companies, a survey shows. Forty-three per cent of
chief financial officers (CFOs) polled recently said finding skilled
staff will be their greatest challenge in the next 12 months, close to
double from a similar poll in 2003. Competition was the second biggest
concern, cited by 18 per cent of respondents, followed by meeting
customer needs at 16 per cent.
The survey was developed by
Robert Half Management Resources, the world’s premier provider of
senior-level accounting and finance professionals on a project and
interim basis. It was conducted by an independent research firm and
includes responses from 270 CFOs from a stratified random sample of
Canadian companies with 20 or more employees.
CFOs were asked,
“Which one of the following is the biggest challenge facing your
company in the next 12 months?” Their responses:
2008 2003
Finding skilled staff.....................
43% 22%
Competition..............................
18% 16%
Meeting
customer demands............ 17%
16%
Government
regulation................. 10%
14%
Adequate sales and/or
financing...... 3% 23%
None of
these/other..................... 2% 1%
Don’t know/no
answer.................. 7%
8%
"Recruiting
top performers continues to be an ongoing priority for many companies
as the competition for talent remains strong," said David King,
executive vice-president of Robert Half Management Resources.
King
advises, however, against automatically filling open positions without
first evaluating personnel requirements. "Hiring managers can staff
strategically by approaching recruitment as a way to fill needs, not
desks," said King. "By analyzing workloads in-depth, hiring managers
can determine if a full-time hire is required or whether an interim
professional or an accounting or consulting firm is best suited to
fulfill ongoing business demands."
The survey also revealed a
decrease in the number of CFOs who saw government regulation as their
biggest challenge. “Due to increased knowledge and understanding,
companies are now less focused on corporate financial reporting in
Canada," said King. "Many companies instead, are shifting their
attention to preparing for International Financial Reporting Standards."
