UK financial chiefs are becoming increasingly concerned about staff recruitment, a new survey has revealed.

According to a survey commissioned by a provider of accounts payable automation tools, 57% of UK CFOs said they are concerned about a potential shortage of new hires as businesses continue to struggle to recruit talent. Yuz.

Finding people with the right skills (40%) was the biggest concern – more so than salary requirements (39%) and the benefits of flexible/homeworking (37%).

The shortage of qualified accounting and finance professionals is a growing problem in the industry, accounting is understaffed 22% in the UK.

The survey of 200 UK finance professionals, commissioned by Yooz, also listed the top skills for today’s CFOs, with cost management (13.21%) ahead of people management (12.15%) and communication (11.98%).

Attracting talent was rated as one of the least important (8.38%), along with CFOs as environmental leaders (8.18%) and entrepreneurs (6.44%).

“We already knew there was a serious skills shortage in finance and accounting, but instead of closing the gap, it seems to be widening at an alarming rate,” said Laurent Charpentier, CEO of Yooz.

“Businesses are struggling to fill key positions in times of economic uncertainty, while employees can virtually choose who they work for. Companies need to make themselves more attractive to attract new employees and retain existing finance talent. This includes better benefits/perks, remote/hybrid work, graduate programs and technology that can help reduce the amount of time they spend on a tedious manual and time-consuming task,” Charpentier concluded.

Yooz will announce the results of its 2022 market research report during a webinar on Thursday 29 September at 10am UK time, which you can register for here: https://www.getyooz.com/en-gb/uk-lp-acq-webinar-edu-live-saif-yooz-apa-ecovadis-2022-09-29

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