Retaining Employees in Uncertain Times

The role of the Finance Manager is changing. Traditionally, Finance Managers have been responsible for financial reporting, budgeting, forecasting and compliance. Today, organisations increasingly expect them to do much more: influence strategy, support commercial decisions and lead finance transformation. For businesses hiring their next finance leader, the question is no longer simply whether someone can manage the numbers. Can they help the business make better decisions? 5 capabilities shaping the next generation of Finance Managers 1. Commercial thinking Finance Managers are increasingly expected to move beyond reporting what happened and help shape what happens next. That means understanding the broader business, challenging assumptions and translating financial insights into commercial recommendations. In Australia, Hays has identified commercial acumen as one of the most important capabilities for senior finance leaders, highlighting the growing importance of finance professionals who can operate as true business partners. 2. FP&A and strategic planning Forecasting and budgeting remain core responsibilities, but today's Finance Manager needs to think in scenarios. Strong FP&A capability allows finance leaders to identify risks, model opportunities and give leadership teams a clearer view of what lies ahead. 3. Technology and transformation Automation, AI, data and ERP transformation are changing how finance teams operate. Finance Managers don't need to be technologists, but they do need to understand how technology can improve processes, reporting and decision-making. According to Hays, 51% of organisations in Australia's Financial and Insurance Services sector report skills gaps, reinforcing the challenge businesses face in finding professionals with the right combination of technical and future-focused capabilities. 4. Communication and influence The modern Finance Manager needs to communicate with more than the finance team. Whether presenting to executives, partnering with operations or challenging a commercial decision, they need to turn complex financial information into clear, actionable insights. Technical expertise gets the conversation started. Communication and influence help move it forward. 5. People leadership As finance functions become more strategic and multidisciplinary, Finance Managers are also becoming increasingly important people leaders. The ability to develop talent, lead change and build high-performing teams is becoming just as important as technical capability. Hiring for what comes next The best Finance Manager for an organisation isn't necessarily the person with the longest list of technical credentials. It is the person whose capabilities match where the business is going. For a growing organisation, that might mean commerciality and FP&A. For an ASX-listed business, it could be reporting, governance and stakeholder management. For a business undergoing transformation, technology and change leadership may be critical.

Risk, Governance, Legal and Compliance functions are facing a changing talent landscape. While Australia’s broader labour market has seen some easing in skills shortages, specialist professional roles remain challenging to fill. Jobs and Skills Australia’s 2025 Occupation Shortage List found that 29% of occupations remained in shortage, down from 36% in 2023. However, around two in five professional occupations were still experiencing shortages. ( Jobs and Skills Australia ) For RGL&C teams, this matters because the demand for specialist expertise is being shaped by another force: increasing regulatory and operational complexity Regulation is raising the bar The expectations placed on organisations to identify, manage and respond to risk continue to evolve. APRA’s CPS 230 Operational Risk Management standard came into force on 1 July 2025, requiring APRA-regulated organisations to strengthen operational risk management, business continuity and third-party risk management. ( APRA ) The shift is significant. Risk management is increasingly about demonstrating that an organisation can continue operating through disruption, not simply having policies sitting on a shelf. That creates demand for professionals who can connect regulation with practical business outcomes. Specialist expertise remains hard to find Recent data from Chartered Accountants ANZ reinforces the challenge in adjacent risk and assurance disciplines. Its 2026 submission to Jobs and Skills Australia’s Occupation Shortage List found a high likelihood of Australia-wide shortages for Internal Auditors and External Auditors, based on vacancies advertised during 2025. The survey also found that the main reason vacancies went unfilled was a lack of experienced professionals. ( Chartered Accountants ANZ ) This points to an important distinction in the RGL&C market. The challenge isn’t necessarily a lack of people. It is a lack of people with the right combination of experience, technical capability and specialist knowledge. The RGL&C role is becoming more strategic As regulation becomes more complex and organisations face greater accountability for operational risk, RGL&C functions are moving closer to the centre of business decision-making. The professionals working across risk, compliance, legal, governance, audit and resilience aren’t simply responding to regulatory requirements. Increasingly, they are helping organisations understand uncertainty, prepare for disruption and make better-informed decisions. The takeaway: the RGL&C talent market is being shaped by two forces moving in the same direction: increasingly complex risk and regulatory expectations, alongside continued competition for experienced specialists. For organisations, building these capabilities early may be less about filling a vacancy and more about ensuring the right expertise is in place before the next regulatory, operational or business challenge arrives.