Planning staffing levels also appeared high on the list

According to a survey of CFOs by Gartner Inc, hiring and retaining staff are the most difficult tasks facing Chief Financial Officers over the next 12 months. The tight labor market is one of several factors – including inflation and supply chain disruptions – that are set to challenge corporate profitability through 2023.

Gartner surveyed 234 CFOs in July, and 54% cited hiring and retaining enough workers as their top challenge. It was followed by forecasting (36%) and cutting the right costs (35%).

Marko Horvat, VP, Research, in the Gartner finance practice said: “The data from CFOs align with what we are hearing from HR leaders, namely that competition for talent is expected to become fiercer over the medium term and retaining that talent will become more challenging. CFOs will need to deploy a variety of strategies to ensure critical roles remain filled while also protecting margins.”

Also on the list, “planning staffing levels across the company” was cited by 21% of CFOs.