Shaping The Future Of Finance: How To Build A Next-Generation Team

● Be tech-forward: Gen Z job candidates are interested in the technology tools they’ll use on the job and are more likely to factor that into their decision to take a position or stay with an employer. In fact, according to CFO.com, 70% of Gen Z workers said they’d leave their current job for better tech, along with more than 50% of Gen X employees and over a third of surveyed Baby Boomers.

So, being a tech-forward company is a plus when recruiting Gen Z. If you can emphasize your company’s digital transformation roadmap, that can be an effective way to attract qualified finance professionals. If your organization is investing in AI tools that automate mundane tasks and give people more time to focus on higher-level work and professional growth, that can also be compelling to tech-focused job candidates.

● Focus on well-being: Gallup notes that an employer’s stance on employee well-being was important to workers in every generational cohort even before the pandemic. But in the wake of the Covid-19 outbreak, finding an employer who cares about employee wellbeing became the top priority for Gen Z and Millennials, who now make up nearly half of the workforce.  

Investing in benefits, offering employee wellness days, and providing more flexibility so staff can enjoy a better work-life balance can help you appeal to wellness-conscious candidates of all ages, including Gen Z. Employers can achieve this by focusing on the outcomes employees deliver rather than hours spent at the office. For prospective employees who perceive the finance field as overly rigid, emphasizing your company’s flexibility and focus on results can make a difference.

● Offer non-linear development opportunities: Professional growth is also a priority for Gen Z job candidates, but keep in mind that career development doesn’t have to follow a straight line. Offering non-linear career paths may be especially feasible in finance since the core skills are applicable to other areas of the business. When you tell applicants that starting out in finance can lead to positions outside that core function, it can be appealing to those candidates who value options.

In addition, many managers recognize that traditional annual performance reviews aren’t effective, but they may be unsure what to offer instead. A performance and development approach that features frequent feedback and enables managers to offer coaching and mentoring options, not just in finance but also in other areas of the business, can help. Curated learning paths are a great way for finance managers to help individuals develop new skills and knowledge.

● Listen, seek allies, and be ready to adapt: As always in HR, it’s important to listen to candidates, peers, leaders in the organization, and other stakeholders since everyone will offer a different perspective. Also pay attention to trends in your internal HR data, like job satisfaction rates, and externally sourced trend information. No generation is a monolith, and job seekers’ wants and needs evolve over time, so it’s critical to be ready to adapt when new trends emerge.

As you develop a strategy to create a next-generation finance team, look for sponsors within the organization who can provide input and help you champion the program, and obtain C-suite buy-in to emphasize that the program is a priority. Remember that change can be difficult and you won’t be able to fix finance recruiting or retention all at once, so manage expectations as you move forward.