GartnerFinance survey shows 86% of CFOs plan to increase employee compensation in 2023, despite recession fears. Read the press release here: Gartner_inc
. “Many CFOs are still trying to shake off the negative ramifications from talent shortages since 2020, and they know they must invest in their staff to retain them.”remained a clear top priority, with 80% of respondents planning to increase their technology spend by at least 3%, and 43% planning to increase technology spend by 10% or more. Beyond technology, 78% of CFOs anticipate a higher level of spend for the cost of goods sold .
Figure 1: CFOs’ Expect Increased Spending on Average Employee Compensation, Tech, and Cost of Goods Sold“Many CFOs are not trying to keep their compensation increases on par with inflation, and they won't need to as the labor market cools; they also can't afford to if they want to hit their profitability targets in 2023,” said Bant. “CFOs do not want their digital transformation to be halted by this recession, and plan to continue increasing funding for technology at a rapid rate.
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