Personiv Releases New Finance and Accounting Talent Market Report: Talent Shortage Intensifies, Outsourcing and AI Adoption Take Center Stage
Personiv released its CFO Pulse report on August 6, 2024, indicating that the accounting talent shortage continues to worsen, with 83% of senior leaders acknowledging the shortage (up from 70% in 2022). The report is based on a survey of 278 U.S. finance and accounting leaders across more than 20 industries and explores coping strategies such as outsourcing and AI adoption.
Austin, Texas — Personiv, a leading provider of finance and accounting outsourcing solutions, today released a newCFO Pulse reportthat reveals a growing accounting talent shortage: 83% of senior leaders acknowledge a talent shortage, up from 70% in 2022. The 2024 survey provides insights and explores strategies to mitigate the talent shortage, achieve efficiency gains, cost savings, and business focus.
CFOs are facing unprecedented challenges—from increasing cybersecurity risks to global supply chain management. Open positions and a lack of skilled accounting professionals can disrupt business processes, leading to increased workloads for existing staff, delayed financial reporting, higher risk of errors, and employee burnout.
Key Findings from the Report
- Worsening Talent Shortage:83% of senior leaders report a talent shortage, with 10% indicating it is getting worse.
- Rising Outsourcing Trend:90% of surveyed CFOs outsource some accounting functions, leveraging specialized talent to maintain efficiency and focus on strategic goals.
- Cautious Adoption of AI:Despite AI's potential, finance and accounting leaders are cautious about its application, emphasizing that human-machine collaboration is the optimal solution.
"The accounting talent shortage is real, and businesses are undoubtedly looking for new ways to support and expand their teams. It is crucial to understand and explore all options for filling positions without straying from larger goals." — Matt Wood, Head of Global Finance and Accounting Outsourcing at Personiv
Click here to download the full report. Deeper analysis in the report, along with actionable insights on practical automation and outsourcing solutions, will be sharedin a webinar hosted by the CFO Leadership Council and sponsored by Personiv, scheduled for September 18, 2024.
CFO Pulse Survey Participants
A total of 278 U.S. finance and accounting leaders from more than 20 industries, including advertising, agriculture, finance, and technology, participated in this survey. Respondents represented companies of various sizes, with significant input from decision-makers directly involved in hiring.
About Personiv
With over 35 years of experience, Personiv builds customized virtual accounting solutions that can save up to 50% in costs. Its GAAP-compliant talent and U.S.-based client relationships ensure quality, cohesion, and results. Contact us today to learn how Personiv can help finance leaders solve talent challenges without sacrificing quality. Personiv is a division of eClerx (ECLERX:IN).
