Despite the prolonged high-rate interest environment, US financial decision-makers remain focused on investing in their employees, with 81% planning to increase investment in workforce development, according to a survey released today by professional staffing provider Resources Connection, which operates as RGP.

RGP noted these figures align with a similar survey conducted in January.

A majority, 62%, of financial decision-makers report their organization is pausing or delaying some new investments due to macroeconomic conditions such as the presidential election, 23%, and high interest rates, 11%. 

Top factors that could have the biggest impact on investment in workforce development include a growing urgency to better leverage AI and automation, cited by 47% of respondents, and hiring challenges in a tightening labor market, cited by 45%.

“The latest jobs data illustrates a normalizing yet resilient labor market, and we’re seeing through our own research that companies remain committed to investing in their workforce through training, headcount and outside talent,” RGP CEO Kate Duchene said in a press release.

“We’ve seen some stagnation in the market as the quits rate has remained low for the past seven months, and our findings show that skill acquisition remains a key challenge for employers,” Duchene said. “These challenges are being amplified by the volume of work that needs to get done, as four out of five companies we surveyed told us they are currently executing digital transformation initiatives.”

The survey also noted that the certified public accountants shortage has resulted in greater investment in technology, with 43% of financial decision-makers reporting their organization is investing more in end-to-end automated accounting processes and AI tools. 

Furthermore, 31% of financial decision-makers reported using more consulting talent to transform their finance function, and 27% said they are using more interim staffing solutions due to the ongoing accountant shortage.

Meanwhile, 45% of financial decision-makers said their organization would benefit from additional resources and tools to better leverage fractional work arrangements.

When queried about concerns, 30% of financial decision-makers cited the integration of more digital strategies, including AI and automation, as their biggest concern in the second half of 2024, followed by acquisition and retention, 26%. Additionally, 30% of respondents said it has been more difficult to acquire new skill sets since the start of 2024, while one in five reported widening skills gaps in their organization.

RGP’s poll includes responses from 213 US full-time professionals at the director level or above who influence finance decision-making within their organizations. It was conducted by YouGov on behalf of RGP in the first half of June.