In-Demand Finance Proficiencies for the Current Year

The challenge of locating proficient professionals, a hurdle confronted by 97% of employers, brings about significant financial repercussions. A remarkable 70% of Chief Executive Officers (CEOs) and Chief Financial Officers (CFOs) envision their organizations grappling with customer demand challenges, primarily attributable to their current talent frameworks. In reaction to this quandary, pioneering remedies such as sophisticated independent talent hubs are emerging as notable contenders. These hubs provide organizations with a conduit to secure the requisite expertise and talent essential for prospering in both the contemporary landscape and the forthcoming future.

In the words of an industry expert, a, Chief Innovation Officer at a leading financial services organization, we gain insights into the dynamic nature of the skills landscape and its significant influence on an organization's ability to remain competitive and profitable. Currently, organizations find themselves in a balancing act as they navigate the rapidly accelerating pace of technological advancements and innovation. Simultaneously, they must adapt to the unpredictable fluctuations in the labour market and economic conditions. This dual challenge highlights the increasing need for a diverse array of skill sets. In response, modern business leaders must adopt creative and agile approaches when acquiring talent.

Key insights from the 2023 Skills Index include:

Sustained Appetite for Financial Proficiency: There continues to be a robust demand for financial expertise, with a particular emphasis on financial controls, accounting, and audit expertise. Notably, financial planning, analysis, and modelling have witnessed a remarkable 71% surge in requests for interim finance executives.

Adopting AI and Technology: Companies are actively in pursuit of on-demand professionals well-versed in technology implementation and adept in the realms of artificial intelligence (AI), machine learning, and data science. Each of these fields has witnessed a substantial 100% surge in demand.

Pursuit of Operational Excellence: Enterprises are on a quest to streamline their operations and elevate efficiency levels. This endeavour relies on on-demand experts proficient in tasks such as organizational design, workforce planning, operational optimization, supply chain management, and the transformation of organizational structures.

2023's Must-Have Finance Expertise

1. Financial Expertise:Financial Oversight, Accounting, and Audit: Professionals with expertise in overseeing financial processes, managing accounting functions, and conducting audits are highly sought after. Financing, Forecasting, Analysis, and Modeling: Individuals proficient in predicting financial trends, conducting in-depth analysis, and creating accurate financial models are in high demand.
2. Strategic Leadership:Project Leadership: The ability to effectively lead and manage projects from conception to completion is a crucial skill sought by organizations.Expansion Planning: Professionals skilled in planning and executing expansion strategies for businesses in various markets are highly valued. Organizational Structure and Talent Management: Leaders who can design efficient organizational structures and effectively manage talent are essential for successful companies.
3. Technology Proficiency:Technology Integration and System Deployment: Expertise in integrating technology solutions and deploying systems to enhance business operations is a critical skill set.
4. Market Growth and Value Enhancement:Market Reach and Value Enhancement: Professionals who can strategize and implement initiatives to expand market reach and increase the overall value of a business are in demand.
5. Tactical Planning:Tactical Planning: The ability to develop and implement detailed tactical plans to achieve specific business objectives is highly valued.
6. Operational Excellence:Operational Prowess: Individuals with a keen focus on optimizing day-to-day operations to achieve maximum efficiency and productivity are in high demand.
7. Supply Chain Management:Supply Chain Oversight: Expertise in managing and optimizing supply chain processes, ensuring seamless logistics and delivery, is a critical skill set.

Top 10 Rapidly Expanding Skills for 2023:

1. Efficient Operations Mastery:Streamlined Operations Expertise (Experiencing a 180% growth): Professionals with the ability to streamline operations for maximum efficiency are experiencing a significant surge in demand.
2. Asset Management and Business Divestiture Proficiency:Asset Disposal and Business Separations Specialist (Experiencing a 170% growth): Specialists adept at managing asset disposal and business separations are experiencing a substantial increase in demand.
3. Project Governance Leadership:Project Control Hub (PMO) Leadership (Experiencing a 160% growth): Leaders who can effectively manage Project Management Offices (PMOs) and ensure project governance are in high demand.
4. Optimising Production Strategies:Production Strategy Optimisation (Experiencing a 120% growth): Experts skilled in optimising production strategies to enhance efficiency and output are in great demand.
5. Risk Mitigation Competence:Hazard Mitigation Proficiency (Experiencing a 130% growth): Professionals with the ability to identify and mitigate potential hazards are experiencing a significant increase in demand.
6. Proficiency in Artificial Intelligence and Cognitive Computing:Artificial Intelligence and Cognitive Computing Proficiency (Experiencing a 90% growth): Experts in AI and cognitive computing are seeing a notable surge in demand as these technologies continue to reshape industries.
7. Mastering Data Analysis:Data Analytics Mastery (Experiencing a 110% growth): Professionals with advanced skills in data analysis are in high demand as data-driven decision-making becomes increasingly vital.
8. Expertise in Business Recovery and Restructuring:Business Revival and Restructuring Expertise (Experiencing a 120% growth): Specialists who can lead business recovery and restructuring efforts are experiencing a significant uptick in demand.
9. Competence in Financial Resource Management:Financial Resource Management Competence (Experiencing an 80% growth): Professionals with strong skills in managing financial resources are seeing a notable increase in demand.
10. Channel Strategy and Oversight Proficiency:Channel Strategy and Oversight Mastery (Experiencing a 90% growth): Experts in developing and overseeing channel strategies for product distribution are in high demand. This research, based on an annual examination of proprietary data encompassing thousands of on-demand projects, serves as a valuable resource for business leaders. It offers insights into key areas of demand in 2023, including talent acquisition for finance needs, operational transformation, technology adoption, and growth strategies.?These insights shed light on the evolving dynamics of talent acquisition and the critical role it plays in shaping the future of businesses. As the talent landscape continues to transform, organizations must remain agile and innovative in their approaches to attract and retain top-tier professionals. Newbridge is the premier talent exchange platform that links autonomous management advisors, specialists in specific fields, project leaders, and interim executives with the most prominent global corporations. Newbridge offers precisely the on-call expertise required, whether it be in remote or on-site capacities, part-time or full-time engagements, individual specialists, or collaborative teams, spanning the globe.

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