A new report from ACCA (the Association of Chartered Certified Accountants) suggests that current talent management practices are falling short.

The new report launches ACCA's global campaign examining talent management practices in today’s finance function. ‘Talent Equation: First Insights’ reveals the current state of play of finance talent globally.        

This is the first of five reports to be published by ACCA that will form a comprehensive research programme of finance talent management practices. Over the next 18 months, the programme will assess and address the critical talent challenges that organisations and their finance leaders face.

Capturing the views of nearly 600 finance professionals across the globe, the report provides a baseline understanding of the major issues. The initial findings suggest that attracting, developing, engaging and retaining finance professionals is becoming increasingly challenging. A career spent in the finance function may no longer be the prime aspiration of newer entrants to the profession (and those that follow), changing business model and operating footprints may be opening up new ways for the enterprise to tap into ‘finance’ talent.

Omid Tissier, ACCA’s senior manager said, “The initial data collected suggests there is a growing maturity of finance shared services and outsourcing. 55% of organisations have had shared services and outsourcing models in place longer than 6 years. Yet as finance continues to evolve its delivery model, new challenges in developing talent are emerging.

“Retained finance roles are still valued higher than shared service roles in developing tomorrow’s global finance leaders. The aspirations of the younger generation in today’s finance function may be changing too. 70% agree that young finance professionals want a career that ultimately extends out of finance.”

Jamie Lyon, ACCA head of corporate sector, commented: “When shared services were initially set up around 15 to 20 years ago the key driver was for efficiency and cost savings. But as these operations have continued to move up the value chain, we have seen a huge pool of talent develop which is of value right across the finance organisation. Equally, time served in shared services can help develop the broader business and management skills needed by todays’ corporate leaders, so it is imperative that this talent is tapped into both in finance and across the wider enterprise”. 

To watch an animation and download the full report, please go to www.accaglobal.com/talent. You can also find out more information on our global campaign about the future of finance talent there.

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For more information, please contact:

Monique McKenzie, ACCA Newsroom

T: +44 (0)20 7059 5622

M: + 44 (0)7725 613 447

E: monique.mckenzie@accaglobal.com

Twitter @ACCANews

Notes to Editors

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 178,000 members and 455,000 students in 181 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com