CFOs are always on the lookout for great talent to fill their teams. However, competition for finance talent skills is fierce. Here are three factors that can make your department an employer of choice.
A meaningful ESG strategy
In a survey by Michael Page Africa of 400 South African employees and job seekers, 82% of respondents “sought to work for a company that was committed to Environmental, Social and Corporate Governance (ESG).”
Companies that prioritise ESG also have higher levels of employee satisfaction and are considered more attractive by employees, according to a study by MarshMcLennan.
The study states, “This is significant because prior research shows that satisfied employees work harder, stay longer with their employers, and seek to produce better results for the organisation. Equally important, enthusiastic prospective employees strengthen a company’s talent pipeline and ensure the availability of crucial human capital.”
Fewer Zoom meetings, but some flexibility
The bad news for local CFOs is that skilled South Africans increasingly work remotely for international companies, says Paul Newman, from Michael Page. “South Africa appears to be high on the priority list due to time zones, language available resources, and cost, which creates a challenge for local employers competing for the same talent.”
The good news is that South African companies can offer an in-person connection many employees crave.
The latest Salary Guide and Hiring Insights report found that while the employees want flexibility (the ideal remote working schedule is two days per week from home), most employees would still like face-to-face meetings.
These meetings are more conducive to creativity, according to a study published in Nature. The study found that video conferencing generates significantly fewer ideas than in-person meetings.
Good managers can keep and attract talent
Of workers in the US that quit their jobs in 2021, 57% did so because they felt disrespected at work, according to a Pew Research study.
The Salary Guide and Hiring Insights Report, list lack of feedback; resistance to change; and lack or organisational skills as respondents’ top answers for what makes a bad manager.
“. . it’s not only about numbers, even in the financial function there are people, there’s an environment, there’s a culture, either a motivated workforce or a discouraged workforce. Those are the softer skills we have to learn,” Veliswa Rozani, CFO of NMI Durban South Motors told CFOTalks.
CFOs must increasingly consider human resource aspects to run a successful finance team. CFOClub Africa believes that the best people to help you navigate the challenges facing the modern CFO are fellow CFOs.
Find out how you can join this community of financial leaders here.