Shortage of talented finance executives inhibits company growth, says survey

Finance departments at British businesses are being stretched as they are unable to find decent candidates.

The 2013 Robert Half Salary Guide warns that finance teams are being asked to do more with less, as hiring activity is not keeping pace with extra workloads.

Four out of five chief financial officers say that it is challenging to find skilled candidates. As a result, organisations are paying more for the market's best and brightest.

Robert Half UK's managing director, Phil Sheridan, said: "The hiring climate has evolved to address the finance growth challenge. While some companies lack the revenue growth needed to increase headcount, others cite lack of access to credit and working capital, which is stopping them from hiring the talent needed to commit to new ventures or expand operations."

The company found that business confidence had improved, with most finance directors more confident in their growth prospects than last year. "Finance professionals are benefiting from this optimism as companies look for additional insight and strategy into business process improvement, cost savings and new revenue sources."