In the world we live in today, technological advancements play a crucial role in talent retention, even in the finance function.
While it is not an obvious point to see at first, the finance team is impacted by the many shifts in technology hence the digital transformation that is transpiring within the function.
The next generation of finance professionals tend to gravitate to modern firms that embrace change and invest in new tools to serve clients. In turn, organisations that fail to keep up with technological advancements risk losing their top talent to competitors who offer a more tech-forward environment.
This is why employee consultation is a key factor. Engaging with employees who understand and value technology and seeking their input on implementing new systems sends a strong message that the organisation values and appreciates their expertise.
By involving employees in the decision-making process, organisations can foster a sense of ownership and create a culture of continuous improvement, which is essential for talent retention.
Similarly, the integration of technology in accounting is also pushing for enhanced learning and skill development, which can be a strong draw for talent.
Prospective accountants are now required to have a blend of accounting, finance, and technological skills.
Overcoming resistance to adoption
Implementing new technology can be met with resistance, especially in companies that are strapped for time and resources. However, the benefits of embracing technology far outweigh the initial challenges.
Building technology into the hiring narrative and showcasing the organisation's commitment to staying current can be a powerful way to attract and retain employees while saving time and streamlining processes in the long run.
To address the resistance to technology adoption, companies should prioritise employee training and provide ongoing support.
By equipping staff with the necessary skills and knowledge to effectively utilise new tools, firms can alleviate any concerns and empower employees to embrace technological advancements.
Additionally, fostering a culture of learning and innovation can create a positive environment where employees feel encouraged to explore and experiment with new technologies.
