Talent attraction and organisational cultural fit, as well as driving revenue, appear to be the most pressing issues for chief financial officers (CFOs) in Hong Kong, reports Robert Walters.
The professional recruitment consultancy released findings from the second instalment of its annual CFO survey series, based on responses from 500 CFOs from multinationals to small organisations across various industries in Hong Kong.
Sectors covered included fast-moving consumer goods (FMCG) and consumer products, logistics and supply chain, IT and telecommunications, banking and financial services, property, legal and retail.
Generally, the survey findings showed that while most senior management remain highly focused on driving revenue and managing cost; identifying and attracting talent with the best corporate culture fit 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 appropriate organisational fit: 32%
- Securing the right talent: 22%
- Managing employees’ expectations: 16%
The top three challenges CFOs face in running their business include:
- Driving the current revenue/profit base: 28%
- Recruiting and retaining the best finance talent: 21%
- Managing cost: 20%
“We are seeing a rise in demand for accounting and finance professionals across all levels of seniority,” said Matthew Bennett, managing director, Robert Walters Greater China. “Apart from the pre-requisite technical skill sets, these individuals are required to be commercially astute in order to better collaborate with top management on business decisions.”
Angel Lam, associate director, commerce finance, Robert Walters Hong Kong, added: “In the current economic situation, businesses are finding more challenges in sustaining growth and profitability. Hence, the role of a CFO and the overall finance function has evolved from the traditional transactional or back-office role.
“These professionals are required to possess the ability to translate financial figures into business perspectives. This will enable them to drive the company’s profitability and function as a competent business partner to the CEO and other top senior management.”
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