Having established the critical importance of the modern Finance Business Partner (FBP) in our previous discussion, we now arrive at the central challenge facing every hiring manager: "Why are these professionals so difficult to find and hire?" The answer lies in a perfect storm of market forces—a talent paradox where the demand for this specific blend of skills has exploded whilst the supply has remained critically constrained.
The scarcity of elite FBPs isn't a temporary market blip; it's a structural challenge driven by three primary factors that have created an almost impossible recruiting environment for companies seeking this transformational talent.
The core of the problem is a fundamental mismatch between the skills companies need and the skills available in the talent pool. The modern FBP profile—a blend of deep financial expertise, advanced tech literacy, and sophisticated soft skills—is exceptionally rare.
The data is stark. According to recent research, a staggering 87% of financial services companies are already experiencing a skills gap or expect to within a few years. This gap is multifaceted. The education system often lags behind industry needs, producing graduates skilled in traditional accounting but unprepared for the data-centric, tech-driven roles of today. This hurts companies through lowered performance, poor decisions and higher personnel costs.
Compounding this is a demographic crunch. A significant portion of the experienced finance workforce is nearing retirement. Around 75% of CPAs had reached retirement age by 2020, creating an enormous knowledge and experience vacuum. Simultaneously, the number of graduates in finance-related subjects has been falling, as students are drawn to what they perceive as more lucrative or dynamic fields like pure technology. This creates a severe supply-side squeeze at both the entry and senior levels.
The traditional career path in finance—starting in audit, moving to financial reporting, then gradually into analysis—no longer produces the hybrid skillset required. By the time professionals develop the necessary business acumen, they often lack the technical fluency. Conversely, those with strong technical skills may lack the commercial insight and stakeholder management capabilities essential for the FBP role.
The second major factor is that finance departments are no longer the only ones hunting for this talent. The "hybrid" professional with both financial acumen and advanced data skills is a prized asset across numerous high-growth industries.
Fast-growing Fintech and Technology companies are in a constant battle for individuals who can bridge the gap between product, engineering, and financial strategy. These firms often offer highly competitive compensation packages, equity options, and the allure of working on cutting-edge, innovative projects. As a result, traditional corporate finance departments find themselves in direct competition with some of the most dynamic and well-funded companies in the world.
The demand for AI and data skills specifically has created a specialised talent war. Whilst demand has remained relatively low in most fields, it has skyrocketed in "Computer and Mathematical" occupations. The FBP sits at the intersection of this high-demand tech group and the "Business and Financial Operations" group, making them part of an exceptionally small and highly sought-after talent pool.
Consultancies, private equity firms, and investment banks are also actively recruiting these professionals, offering accelerated career progression and exposure to multiple industries. The result is a market where the most talented individuals have numerous options, often outside traditional corporate finance roles entirely.
Finally, many companies are their own worst enemy, relying on outdated recruitment and talent development strategies that are ill-suited for attracting this new breed of professional. They are fishing with the wrong bait in the wrong pond.
Many organisations still default to hiring for "degrees and pedigrees" rather than demonstrable "will and skill." This approach dramatically shrinks the potential talent pool by overlooking exceptional candidates from non-traditional backgrounds. Rigid job descriptions that read like a laundry list of mundane tasks—"prepare monthly variance analysis," "assist with budget process"—fail to capture the strategic, high-impact nature of the modern FBP role and are unappealing to ambitious, value-driven professionals.
The interview process often compounds these problems. Traditional finance interviews focus heavily on technical accounting knowledge and Excel proficiency, but rarely assess strategic thinking, stakeholder management skills, or the ability to translate data into actionable insights. Companies frequently miss exceptional candidates who could excel in the FBP role because they don't fit the traditional mould.
Furthermore, there is a widespread failure to invest in internal development. Instead of building a pipeline by upskilling their existing finance staff, many companies seek a "unicorn" candidate who already possesses every required skill. This lack of investment in formal training and structured career paths not only makes it harder to fill senior roles but also leads to higher turnover among promising junior staff who see no path for growth.
So how do forward-thinking companies overcome these challenges? The most successful organisations are those that recognise the FBP talent crisis as both a challenge and an opportunity. They're reimagining their approach to recruitment, development, and retention.
Redefine Your Talent Pool: Look beyond traditional finance backgrounds. Some of the best FBPs come from consulting, operations, or even non-business backgrounds where they've developed analytical thinking and problem-solving skills.
Invest in Development: Build internal pipelines by identifying high-potential individuals and providing them with structured development opportunities. This includes technical training, cross-functional exposure, and leadership development.
Rethink Compensation: Compete not just on salary, but on the total value proposition. This includes challenging work, clear career progression, and the opportunity to make a real strategic impact.
The immense difficulty in finding and hiring elite FBPs is not a reason for despair; it is the very source of their strategic value. Their scarcity is what creates the competitive advantage for the organisations that manage to secure them.
Companies that successfully attract and retain these rare professionals gain access to capabilities that their competitors simply don't have: the ability to make faster, more informed decisions; the agility to navigate complex operational challenges; and the insight to identify opportunities that others miss.
The question for every business leader is clear: in a world where data-driven decision-making is the difference between thriving and surviving, can you afford not to have a strategic Finance Business Partner on your team?
Henry Turner is a Senior Consultant at The Consultancy Group, bringing extensive experience in recruiting for finance roles across Technology, Fintech, and Retail.
