RGP, a global consulting firm, has released new research uncovering the impact of macroeconomic factors on workforce decisions in the latter half of 2024. The findings reveal a steadfast commitment among financial decision makers to enhance workforce development despite challenging economic conditions.
- Investment in Workforce Development:
- Despite economic pressures, 81% of financial decision makers plan to increase investment in workforce development.
- Top concerns influencing these decisions include leveraging AI and addressing hiring challenges in a tightening labor market.
- Impact of Economic Conditions:
- Two-thirds of organizations are delaying new investments due to factors like the presidential election and high interest rates.
- The shift towards digital transformation remains strong, with many companies executing digital initiatives amidst market stagnation.
- Addressing Talent Challenges:
- The ongoing CPA shortage prompts increased investment in automated accounting and AI tools (43%).
- Skill acquisition remains a critical challenge, with organizations struggling to acquire new skill sets and address widening skills gaps.
RGP’s research underscores the resilience of companies in prioritizing workforce investment amid economic uncertainties. By focusing on digital transformation and talent acquisition strategies, organizations are positioning themselves to navigate evolving market conditions and drive sustainable growth.
