A majority of APAC CFOsin the as-yet-unreleased survey felt that holding on to talent was a top concern.
In a preview of a global CFO survey that has not yet been released, a global employment platform has announced some trends it has discerned from the data.
Survey results supposedly show that, even though there were concerns among the respondents, CFOs polled were bullish on growth. Around 72% of CFOs surveyed globally were concerned about raising wages to stay competitive, while other top challenges cited were supply chain disruption (29%), talent shortages (23%), and global affairs (18%).
Of those in the Asia Pacific region, 77% of CFOs surveyed felt their long-term plans will stem around expansion into new countries. In terms of global expansion plans in the next 12–18 months, the respondents indicated that their top expansion territories were APAC (64%); the United Kingdom (16%); the European Union (5%); The Middle East and Africa (5%) and North America (3%).
Also in APAC, 82% of CFO respondents had indicated that holding on to talent was a top concern. The respondents were navigating the uncertainty by offering more flexibility such as remote-working-first and hybrid work. In addition:
- 56% of APAC CFOs in the survey had indicated that their retention strategy over the next 12–18 months was to be focused on expanding benefits, including flexible working arrangements
- 92% of the APAC CFOs surveyed indicated that allowing employees to work in locations of their choice rather than having to backfill a position was the preferred talent strategy for key stakeholders
- 49% of APAC CFOs indicated that their companies’ talent strategy was based on a hybrid workplace
According to Simone Nardi, CFO, Globalization Partners, the firm that commissioned the survey: “Now is the time to think differently about how adversity in one market or region may mean opportunity in another, and how this type of fresh perspective can help in building a stronger company. Expanding into new markets to find both talent and opportunity provides a path forward for continued growth at reduced cost and risk.”