# SMB Finance Talent Revolution and Workforce Transformation

> What does the future hold for finance talent in the US? And how can your business thrive amidst changing finance talent trends?

Source: https://valuexpa.com/publication/The-Future-of-Finance-Navigating-the-SMB-Talent-Revolution
Publisher: ValueXPA (https://valuexpa.com)

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## Executive summary

The current finance talent market in the US is undergoing a significant transformation driven by factors such as digitalization, remote work, and an increasing focus on sustainability and ESG factors. As of February 2023, there are approximately 6.68 million Americans employed in the finance and insurance industry, and over 374,000 finance industry jobs are available. Furthermore, the finance and insurance industry plays a crucial role in the US economy, contributing almost $2 trillion (about $6,200 per person in the US) or 7.78% of the total US GDP. Still, SMBs are struggling to find the right talent amidst a sea of candidates. This report provides an overview of the finance talent landscape in the US and emerging talent trends in the industry.

## Key findings

- The finance and insurance industry contributes almost $2 trillion (about $6,200 per person in the US) to the US GDP and plays a crucial role in the US economy, but SMBs are struggling to find the right talent amidst a sea of candidates
- Employers are adopting new strategies to attract and retain finance talent, with talent retention identified as a major concern by 68.90% of hiring managers
- Additionally, there is an urgent need for reskilling in the finance industry jobs as emerging technologies become more prevalent
- At a Glance Current Finance Talent Landscape in the US 82% of CFOs see acquiring and retaining key talent as crucial for growth 51% of Chief Accounting Officers are looking to automate the mundane tasks with cloud based

## Who this is for

This report is for CFOs and finance leaders, and mid-market business leaders.

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ValueXPA runs a fixed-scope Margin Drift Diagnostic that validates every service vendor invoice against contract terms, for $100M+ US industrial manufacturers and distributors. Two to four weeks. The client retains 100% of recoveries. https://valuexpa.com/contact-us