What we’ve learned (so far)

As finance organizations and employees dealt with the ripple effects of the pandemic—from evolution in work to personal challenges—here’s what we found out:

• The finance workplace isn’t always where the worker is, but it is always where the work is: The shared digital environment and collaboration tools used by a team. That said, it’s still about finding the right balance between virtual and in-person work.
• Wherever finance leaders and workers land, from fully back into the office, remote indefinitely, or a hybrid approach, the future implications of finance workforce trends will be real and need to be dealt with by design.
• Freelancing and gigging went from novelty to the mainstream and became on-demand during crunch periods: tax season, quarterly and year-end closes, and more.
• Organizations have started matching skills to the work that needs to be done.¹ This gives the workers more choice, opportunity, and equity (not to mention meaning and satisfaction).
• Workers want more—but what do they want? Finance leaders need to ask. A standard human resources engagement survey is likely not enough to manage the workforce of the future.

OK. So, what do we do now?

To meet your finance workforce where they are, it comes down to one word: reimagine. Take a step back and reimagine your workforce, the work they do, and where they do it—and why. Start by asking yourself a few questions:

• What does our finance organization actually need to do to deliver the most value now?
• What don’t we know about our workforce? Are we painting them all with the same brush?
• What do they consider to be valuable work? And do they understand how their work is valuable to the organization and our stakeholders? Do they know why they’re doing the work?
• What technologies do they need to stay connected with one another and the organization, and to feel valued?

It’s crunch time

Finance was on the path to the future of work before the pandemic—then organizations were propelled into it. Going forward, we can keep the things that worked, such as workplace flexibility and seeing workers for the humans they are, and innovate on what didn’t, like burnout and isolation. By building a finance for the future, a future-thinking CFO can be the leader their organization, and their people, require. (And this leadership must come from Finance, not human resources.) A finance workforce of empowered workers, technology that augments, and a purposefully designed workplace is built for results and resilience, not just reaction. It’s built to be dynamic—regardless of what the future may hold.

Deloitte can help

Our Finance Labs explore the “art of the possible” and define your Finance Transformation strategy, bringing to life potential use cases, road map priorities, and future-state benefits. Contact us to learn more.

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Endnotes

¹ Sue Cantrell, “Skills: The new workforce operating system,” Deloitte, October 21, 2021.
² Deloitte. “Deloitte 2022 Finance Workforce survey,” 2022.