Study: 6 out of 10 firms expect to hold finance staffing steady

While the majority of firms say they expect to hold staffing levels steady, competition for qualified professionals — especially controllers — is fierce, according to a recent Controllers Council survey. 

Most (64%) of the CFOs, controllers and other finance professionals surveyed plan to maintain current staffing levels while 32% intend to increase their finance and accounting numbers, and only 4% are planning cuts, according to the findings of a recent Controllers Council survey conducted from May to July.  

The national survey of nearly 200 respondents also found that while outsourcing was seen as the answer to leaders’ talent shortage issues, this has changed dramatically. For example, the share of finance leader respondents saying their outsourcing has gone from 40% last year to 27% this year, the study found. 

The survey’s findings signaling that in-house finance staff is relatively safe from cuts comes as automation and the rise of generative AI have become a looming threat to in-house financial teams’ future livelihoods, even as the accounting industry broadly is also worried about a shrinking pipeline of younger accountants.  

Employer competition for controllers is particularly fierce. When survey respondents were asked what roles are the most challenging to recruit for, controllers were far and away the most common answer at 51%.