The Finance Talent Challenge survey conducted by Deloitte Consulting LLP and the Economist Intelligence Unit (EIU) includes responses from 636 financial executives across a variety of industries. 

According to the survey, 35 percent of CFOs said that recent graduates do not see the finance function as a career launcher, and only 33 percent of executives agreed that their finance organization markets finance as an attractive career option or destination.

Career advancement tops the list of frequently cited reasons that talented finance people give when they quit, but only 46 percent of respondents agree that their finance leaders routinely develops talent as a part of their career development programs.

Furthermore, few (28 percent) agree finance routinely provides talent with opportunities outside of finance, and 38 percent say their finance organizations are reluctant to release talent to other departments within the company so they can further develop their skill sets and increase their knowledge of the company. This runs contrary to the expectation that finance professionals have a strong knowledge of, and feel for, the business.

And the issue of finance talent and demand is truly global, according to the survey. Sixty-seven percent of respondents from Asia-Pacific cited that the current supply of finance talent is either limited or inadequate, with 54 percent of respondents from Eastern Europe; 53 percent from Asia-Pacific; 52 percent from Western Europe; and 47 percent from North America stating that finance talent will be limited or inadequate in three to five years.

"The responsibilities of CFOs are growing each day as the focus of the finance office shifts from traditional accounting and reporting to more strategy and leadership, and the need for top talent intensifies,” said Steven Ehrenhalt, a Principal with Deloitte Consulting. "The survey found that many organizations lack the ability to align finance with businesses objectives, as well as to help reach company goals. Attracting the talent needed to help reach these goals is a challenge. "

Despite the evidence that financial executives are not yet committed to solving the finance talent challenge, Ehrenhalt remains optimistic, citing four vows that CFOs must take to begin the turnaround.

He said CFOs must commit finance to creating value, developing and nurturing new finance leaders, branding finance as a career launcher and commit to attracting, developing and retaining top finance talent.

A copy of the survey can be found at www.Deloitte.com/financetalent.