Talent Management in Government Finance

Talent management in government finance cover

Summary

There is an increasing focus on attracting and retaining the best finance professionals working in governments around the world. This report kicks off the conversation about talent management strategies and provides an initial evidence base from which we can start to develop a truly sustainable workforce in financial management. In collaboration with the International Colloquium on Financial Management for National Governments.

Format

PDF

Published

Sep 2018

Author

CIPFA

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There is an increasing focus on attracting and retaining the best finance professionals working in governments around the world. This doesn’t happen by chance and requires robust talent management strategies to be introduced by governments. Managing talent effectively means that governments will be better placed to improve performance and demonstrate how talent adds value to the business of government.

Talent management is considered increasingly important for employers in an era of competition for skilled employees and in a turbulent period of societal and technological change, and where sectors such as the public sector face resource constraints and austerity measures. Many employers, including some in the public sector, have responded to these challenges by implementing talent management arrangements and frameworks.

To help get a better picture of what is going on in this area, on behalf of the International Colloquium on Financial Management for National Governments, CIPFA surveyed 72 public sector organisations around the world to understand the challenges in building sustainable talent.

Automation, artificial intelligence, and Blockchain are all promising to bring big changes to how we undertake financial management, audit and accounting in the future, and organisations must make sure they have the right talent to adapt. 

This research focuses on talent management in the public sector. It concentrates on the government sector and examines what governments in a range of countries are doing to attract, identify, develop and retain professional accountants in government. If the finance profession can manage talent strategically, it can build a high performance workplace, encourage a learning organisation and contribute to diversity management. For these reasons, talent management should be one of the key priorities for the finance profession working in government.

This report kicks off the conversation about talent management strategies and provides an initial evidence base from which we can start to develop a truly sustainable workforce in financial management.