Ninety percent of chief financial officers (CFOs) based in Hong Kong find it challenging to find talent with the right organisational fit, namely professionals who are able to align themselves with the company’s goals and strategies, according to a survey by Robert Walters, a specialist professional recruitment consultancy. Almost three-quarters (72.5%) of respondents felt that it was difficult to secure the right talent.
The survey was conducted during Robert Walters’ recent CFO breakfast forum in Hong Kong. A total of 300 CFOS from small to large organisations across various industries participated in this survey.
When asked about their top priorities for the year, 90% of the CFOs surveyed felt that “maintaining the current revenue/profit margin” would be their key priority which was expected given their job function. Additionally, 70% of respondents agreed that managing cost was second of their top three challenges. An interesting point to note, however, was that employers also selected “recruiting and retaining the best finance talent” as one of their top three challenges in running their businesses, with 62.5% agreeing so.
The survey findings show that while most senior management remains highly focused on generating profit, talent attraction and retention has emerged as one of the top challenges in managing a business.
In terms of recruitment, respondents indicated the following as their top three challenges:
- Finding the right talent with the right organisational fit: 90%.
- Securing the right talent: 72.5%.
- Managing employees’ expectations: 47.5%.
The top three challenges CFOs face in running their business include:
- Maintaining the current revenue/profit margin: 90%.
- Managing cost: 70%.
- Recruiting and retaining the best finance talent: 62.5%.
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