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FP&A Innovation, Issue 9

Where we talk about finding the right people for a finance team

19Jan

Last year, we saw leaders in the finance function dealing with a variety of problems, and incorporating a new set of technologies into their operations to deal with them. As we enter 2016, CFOs will have a new set of issues to cope with, and new resources to help.

Among the most problematic areas for CFOs is likely to be recruitment. In this issue, Emma Taylor discusses how CFOs can work to ensure that they are finding the right people. Not only this, but how they can make sure that they are retaining them effectively. Millennials are approaching their careers in a different way to previous generations, and they are treating jobs almost like a whistle stop tour, using each one as a chance to accumulate new skills that will drive their career forward. In this vein, Financial Centers of Excellence are the in-thing at the moment, and Kirsty Donovan takes a look at what these are, why they are increasing in popularity, and how to set them up.

The central issue that many CFOs are facing when looking for staff is that the skill set they are searching for is simply not there. It has been argued by a number of people that this is the fault of universities, who are failing to adequately prepare their students for the real world. However, the world is, fast moving, and the influx of new technologies means the business environment has changed irrevocably. The cloud, the Internet of Things, and big data - just for starters - means that the skill set many CFOs are looking for may actually be out of date. Millennials have different qualities that perhaps go unappreciated by older generations, but being born into digital, so to speak, means that they are often far better equipped to deal with technological change.

In this edition, Bryce Kenny looks at how the IoT will impact the finance function, and I ask if technology will put an end to banking.

It is likely to be another tumultuous year for finance, and CFOs will have to be prepared. Hopefully this magazine goes some way to helping.

As always, if you are interested in contributing or have any feedback on the magazine, please contact me at jovenden@theiegroup.com.

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