Wednesday 20th January, 2016

According to new research by recruitment specialist Robert Half, managing the workloads of their employees will be one of the greatest internal pressures facing UK finance leaders in 2016.

Closely followed by retaining top talent - in particular those with niche, specialised skills - and delivering efficiencies and growth targets are also key concerns for CFOs and FDs as they enter into 2016.

The regulatory environment continues to create day-to-day challenges, including finding and retaining professionals with the right skills to cope with the extra workload. 58% CFOs and FDs claim to have lost a good employee to another company, specifically to those offering higher remuneration. To further add to the pressure, more than a quarter (26%) of finance leaders believe sourcing and recruiting skilled financial talent will be one of the concerns in the year ahead.

The employees in greatest demand will be those who can add value through business partnering and provide strategic insight for the business, not just fiscal controls. Salaries for those in specialised roles are set to increase by up to 4%.

Across the UK, London-based CFOs and FDs are most concerned with delivering efficiencies and growth (53%) while those in the North and South West and Wales will feel the most pressure to retain finance employees (45% and 38% respectively). Scottish finance leaders will struggle the most to source skilled financial talent (38%) and those based in the Midlands will be most concerned with managing the workloads of their employees (43%).

Phil Sheridan, Managing Director, Robert Half UK said: "Increased legislative compliance requirements combined with growth goals is feeding the demand for talented, highly skilled professionals. However, with the growing war for talent, retaining professionals with the right skills to cope with the extra workload will prove challenging and will add to the day-to-day pressures that CFOs and FDs face."

"Companies will do well to consider hiring interim professionals to help ease the pressure on their finance teams. This will also minimise the risk of top talent leaving, as will proactively benchmarking salaries."