Majority of FDs worried about losing baby boomer skills

The research, “CFO Insights: Interim management: the solution in a talent-short market?”, published by Robert Half Management Resources, shows that 69 per cent of chief financial offers are concerned about a skills drain due to baby boomers leaving their company within the next two years.

The biggest concerns expressed by 200 British CFOs and finance directors across the UK are a loss of legacy knowledge (43 per cent) followed by leadership abilities (20 per cent) and functional skills (18 per cent).

Interim management is one way that employers can stop the skills drain, according to the report.

“Finance leaders benefit from the cost-effective access to skills offered by interims,” explains Julian McLaren, vice president of enterprise solutions at Robert Half Management Resources. 

“By continuing to capitalise on the readily available and highly trained interim market, businesses can adjust more easily and quickly to workload variations.”

Almost all of the CFOs (96 per cent) said that they would consider becoming interim managers as they approach retirement.

Almost two-thirds (61 per cent) cited the flexibility offered by interim management as the biggest attraction, while 37 per cent said that they are tempted by the exposure to new companies and sectors.

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