Finance Team Optimization

Finance team hiring, development, engagement and retention best practices

Leading the Finance Team of the Future

66% of finance leaders believe the digital competency gap within their finance team is widening. As technology continues to evolve and digital investments grow, finance leaders must build their team's digital competencies to deliver impact. 

Download the research to close competency gaps on your team by understanding:

  • The five digital competencies most critical for finance teams
  • Each competency’s observable employee behavior
  • How each competency improves performance in the finance function

Download the Digital Competencies Research

Five critical competencies for a digital finance function

By clicking the "Continue" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.

Contact Information

All fields are required.

  • Step 2 of 3

    By clicking the "Continue" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.

    Company Information

    All fields are required.

    Type company and location
    Optional Optional
  • Step 3 of 3

    By clicking the "Submit" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.

    Finance team skills and needs are changing rapidly

    Talent supply and demand increasingly concerns CEOs. CFOs worry too. Three in four finance organizations are likely to face a capability shortage because the finance team hasn’t yet mastered nontechnical skills like innovation and digital dexterity. And few finance-specific competency models and career paths exist. But, successful finance teams help CFOs reduce costs, increase clock speed and make more financially sound decisions.

    Effective talent managers are 50% more likely to exceed their financial goals.

    Adapt finance team management for the digital business

    Advanced technology, matrixed decision making and new service delivery models are changing the skills, competencies and behaviors that the finance team needs for success. It’s critical that finance leaders undergoing finance transformation expand finance team recruitment beyond traditional finance backgrounds and deploy an employability- and experience-based development model, not a ladder- and training-based framework.

    Effective talent managers are 50% more likely to exceed their financial goals.

    Finance Team Optimization Insights You Can Use

    To build a successful finance team and lead the next-generation workforce, CFOs take four steps:

    Improve Diversity in Finance

    Ethnic diversity in finance is one of the lowest across corporate functions, and the news is mixed when it comes to gender diversity. Finance leaders have a direct impact on this issue not only in managing their own function, but also through the extent to which they prioritize funding for corporate-level DEI initiatives.

    Read the report to learn more about the measures finance leaders can take to move the needle.

     

    Nearly 50% of CEOs believe their executive team is ineffective at collaborating with one another to manage the next-generation workforce.
    Only about 50% of CEOs are confident their executive team can identify emerging skill needs.

    Know and develop your team's digital finance skills

    While 80% of finance leaders believe the pace of digital technology implementation within finance will accelerate in the next few years, more than 70% of finance leaders lack digital competency specificity or training plans for developing these digital competencies.

    Watch this complimentary session to see how finance organizations can identify critical digital competencies and provide tailored training for teams to develop in these areas, so they avoid losing ROI on their digital technology investments.

    Only about 50% of CEOs are confident their executive team can identify emerging skill needs.

    Equip your team to thrive in the face of change

    Change has become the new normal for all finance and accounting organizations, but during times of change employees exert more effort to get their work done, impacting their mental energy.

    Uncover how leading senior finance executives equip their employees with tools and support to not just cope with, but thrive in the face of continuous change.

    Effective talent managers are 4x more likely to retain key employees.
    There is up to 26% employee performance improvement under connector managers.

    Questions about becoming a Gartner client?

    Gartner Finance Team Optimization Case Studies

    A partner should not be defined as someone who is loyal to the fault. We must constructively challenge the way the business thinks.
    CFO, computer software and services company
    Case Study

    Building a successful finance team at W.L. Gore

    Listen to the Head of FP&A at W.L. Gore discuss how Gartner supported the finance competency development strategy.

    Gartner CFO & Finance Executive Conference

    Connect with our experienced practitioners and unbiased Gartner experts to discover innovative approaches to smarter business decisions and more.

    Gartner’s finance experts are trusted, objective advisors for 1,750+ finance organizations

    Gartner for Finance provides insights, advice and tools to help finance leaders make the right decisions to drive business results.