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FMW Global Monthly Magazine – Issue n. 8

What are the latest news from the market? And how is the world of HR Consultancy evolving around the world? We are proud to announce the release of our FMW Global Monthly Magazine – Issue n. 8, where we will take a deeper look into these themes with a specific focus on the Spanish Market and its Global Challenges and Trends. This issue’s Editorial has been written by Carlos Cabezón, FMW Spain Country Manager and CEO of Let’s Talent. His valuable contribution is called The Future of the Spanish Job Market: Key Trends, a piece that examines the future of the Spanish Market: “The Spanish job market is set for dynamic changes influenced by technological, economic, anddemographic factors. By understanding these trends, stakeholders can strategically position themselves to capitalize on emerging opportunities and address future challenges.” Carlos Cabezón Other relevant news contained in this issue concern Finance, Administration, Control, Engineering, Sustainability, Talent Acquisition, Healthcare, Training, the HR Consultancy world and more: Request your copy to download of Issue n. 8.

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Introducing Kevin Naylor – Future Manager World USA CEO

FMW – Future Manager World already present in 40+ countries and 5 continents, since the Dubai event held in October 2022 the FMW Federation decided to undertake an expansion plan to enhance the already global capability of the Group in some crucial Countries and more specifically in the USA. FMW is then proud to announce another important step that greatly improves its already established presence in the USA. Mr. Kevin Naylor, who since 2017 has been our Japan Country Manager at “En World”, is leaving Japan after more than 27 years to relocate to Dallas, Texas and bring “globality” to the USA as CEO of our FMW office in America. He will be officially on the ground in Dallas from August 1st, 2024 but is already working from Japan to set up the business development for FMW US. We are all very excited by the new opportunities that this important achievement of FMW US will bring to the future of FMW Federation.

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Women CFOs in 2024: Female Financial Executives in Europe

Between 2020 and 2023, the turnover rate of CFOs in Europe reached 14% according to the latest market analysis in the Consultancy sector. Record-breaking data when compared to previous years, which highlights the persistent challenge associated with the gap between demand and supply of professionals in the Executive domain. The increasing request for highly qualified resources to fill leadership roles such as Chief Financial Officer prompts companies to consider, on one hand, internal talent within the organization by retraining them appropriately and providing access to the position for the first time; on the other hand, the need to ensure robust management in an increasingly uncertain economy further fuels the hiring of external personnel with proven expertise, in some cases acquired over decades. According to the data, this seems to be the case for Women CFOs. In 2023, 50% of Chief Financial Officers had previous experiences on the job, compared to 9% of externally hired Women CFOs who took on the role for the first time. A growing number of women were appointed CFO in 2023, accounting for 19% of the total CFOs in Europe. This is encouraging progress, but still far from equality: although 25% of CFO appointments in 2023 were women, this represents a 12% decrease from the previous year. A surprising result comes from Italy where, according to March 2023 Women in Business report, the number of women in senior leadership roles increased by +4% from 2022 to 2023, simultaneously reducing the percentage of companies without female representation in similar positions (-7%). But what can we expect in the years to come? Studies reveal that a change in corporate culture could promote a greater influx of Women CFOs into organizations. Solutions such as flexible working arrangements and digitalization, for example, have already proven effective in various Eurozone countries, also enhancing corporate prestige and inclusion. Following current trends, senior management positions held by women could reach 34% in 2025 and 36.5% in 2030, according to estimates. However, it is up to People and local / international policies incentivizing change to improve these predictions.

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World’s most innovative economies, summarized

Being innovative means achieving global exposure – and world economies know it. Innovation is going to be a powerful driver in 2024, continuing on a path that has especially developed two years ago. Artificial Intelligence going viral thanks to ChatGPT has influenced how countries all over the world balance their investments in innovative practices, inevitably ending up influencing world economies. In December 2023, the World Intellectual Property Organization (WIPO) has revealed what countries qualify as most innovative, taking into account 80 indicators that encompass, among others, Knowledge & Technology Outputs, Human Capital & Research, and Business Sophistication. Those in the Top 10 are likely to be key this coming year, putting countries like Switzerland (1st), Sweden (2nd), the US (3rd), Singapore (5th), Germany (8th) and South Korea (10th) in a highly competitive position. An even more innovative future is awaiting us, and being aware of existing trends and leading economies allows companies to engage in profitable markets and create a more powerful future. Source: World Intellectual Property Organization (WIPO), December 2023.

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