This ACCA (the Association of Chartered Certified Accountants) report provides results from one of the largest-ever surveys on talent management practices across the global finance profession.
When finance functions incorporate shared services, new questions arise in relation to talent management outcomes. Shared service models – no matter what their scope or how they are structured – can be a disruptive departure from the traditional, vertically integrated finance model. Finance tasks that were more tailored to an individual business unit are now standardized Relationships that were physical become more virtual. Career paths that we obvious become more ambiguous. Geographic and cultural challenges may prevail.
In June 2012, ACCA undertook a global survey of talent practices in finance functions with shared service operations. The aim of the survey was to gather some simple data points on the adoption and effectiveness of talent practices across the end-to-end finance function from shared services to the retained finance function.
Over 1,200 organisations responded, with almost one third representing companies reporting over $3 billion in annual revenues. 15% of respondents were CFOs or finance directors.[hr]
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