Member Article

New talent in Manchester could go unharnessed

Over 100 newly qualified Chartered Global Management Accountants (CGMAs) and their guests celebrated in Manchester this week as a new report that shows companies’ failure to manage talent is having a negative impact on competitiveness, with over 40% of respondents believing this has contributed to stifling innovation and is having a serious impact on their bottom line.

Talent pipeline draining growth: Connecting human capital to the growth agenda, published by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), reveals that the financial performance and growth prospects of many businesses are being blighted by their failure to make the most of their human capital.

The survey of more than 300 CEOs, CFOs and HR Directors highlighted that over two fifths (43%) of respondents partially attributed the failure of their firms to achieve key financial targets to ineffective people management, whilst almost the same proportion (40%) say it has reduced their company’s ability to innovate.

Companies in Manchester and the North of England can leverage the skills of these newly qualified management accountants to help manage talent effectively and ensure they don’t lose growth and competitive advantage. The survey was carried out by the Economist Intelligence Unit (EIU) on behalf of CIMA and the AICPA.

Andrew Harding FCMA, CGMA, Managing Director, CIMA, spoke to the newly qualified management accountants at their celebration event held at the Palace Hotel in Manchester on Monday 17th September and said:“It is an extremely exciting time to qualify as a CGMA and I would like to congratulate our new members on their impressive achievement. CGMAs apply non-financial, qualitative information alongside the financial facts to inform effective decision making. They help the board to ‘connect the dots’ by understanding how the different parts of the business need to come together to create value. Businesses need these skills more than ever as they look to navigate the challenging economic landscape. Indeed, 80% of CEOs who contributed to a recent CGMA study indicated that a candidate with this designation would be more appealing to their organisation than those without it. Business leaders now rank performance management in their top three priorities, and CGMAs are uniquely placed to act as a strategic business partner.”

This was posted in Bdaily's Members' News section by CIMA UK Regional News .