Regulation and Brexit top industry leader concerns in 2018, says study
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Regulation and Brexit top industry leader concerns in 2018, says study 24 January 2018London Reporter: Jenna Lomax
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Regulatory compliance, Brexit, and retaining talent are the top issues keeping chief finance officers (CFOs) awake at night, according to a recent survey.
Just under half (48 percent) of CFO respondents, said their top priority for 2018 is to meet compliance and regulation demands, including the second Markets in Financial Instruments Directive (MiFID II).
The second Payment Systems Directive and the EU’s General Data Protection Regulation were also highlighted as regulatory concerns for the future.
Robert Half UK stated that this is the first time in three years that the regulatory environment has risen back to the top of the CFO agenda.
The survey, conducted by recruitment firm, Robert Half UK, also found that uncertainty surrounding the Brexit negotiations was the second biggest source of concern for CFOs overall with 43 percent of the vote.
Retaining key talent was also considered a primary issue and came in third place with 39 percent.
Nearly 40 percent of CFOs said maintaining cash flow was also a challenge for 2018, while 39 percent of CFOs said they would list managing the impact of automation as a priority.
However, despite the challenges, the research shows that the majority of CFOs remain positive.
Overall, 84 percent are confident about their firms’ growth prospects with the majority, 89 percent, making investments that allow them to better respond to these challenges.
Many CFOs have already identified that this will mean either hiring additional contractors or temporary workers (35 percent) or permanent employees (28 percent).
Matt Weston, director of Robert Half UK, said: “It’s reassuring to see that in the face of the various business challenges in the year ahead, CFOs are remaining optimistic and confident.”
He added: “Once again, we’re reminded of how the CFO role is evolving. To drive prosperity and growth in a changing business climate, CFOs are being called on to apply financial intelligence across the wider business.”
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