Retaining Finance Talent in SMEs: Why It’s Harder Than Ever (and What Actually Works)

For many SMEs, hiring finance talent is only half the challenge.

Keeping them is where things become difficult.

Across the market, experienced finance professionals - particularly at Finance Manager, Financial Controller, and FD level - are increasingly selective. They’re not just looking for salary increases. They’re looking for impact, progression, and clarity.

And when those things aren’t there, they move.

The Shift: What Finance Professionals Want Now

There’s been a noticeable shift in how finance professionals evaluate roles.
It’s no longer just about:

• Salary 
• Job title 
• Company size 

Instead, we’re seeing candidates prioritise:

• Exposure to commercial decision-making 
• Clear progression (not just promises) 
• Leadership quality and visibility 
• The ability to influence, not just report 
• Workload sustainability 

For SMEs, this creates both a challenge and an opportunity.

Because while they may not always compete on salary, they can compete on experience.

Why Retention Breaks Down in SMEs

In many cases, finance professionals don’t leave because of one major issue.

They leave because of a gradual disconnect between what they were hired to do - and what the role becomes.

Common patterns we see include:

1. Roles Becoming Too Operational
Finance hires are often brought in with the promise of strategic exposure.

But over time, they become absorbed in:

• Reporting cycles 
• Process issues 
• Covering gaps in junior teams 

The result? High-calibre individuals spending most of their time on tasks below their capability.

2. Lack of Clear Progression
SMEs don’t always have structured career paths.

That’s understandable - but without visible progression, finance professionals start to look externally.

Even if they’re performing well, they can’t see what comes next.

3. Limited Exposure to Decision-Making
Finance professionals want to be involved before decisions are made - not after.

When they’re excluded from:

• Commercial planning 
• Budget-setting discussions 
• Strategic conversations 

They lose engagement.

4. Leadership Gaps
Retention is heavily influenced by leadership quality.

In SMEs, where teams are smaller, the relationship between finance professionals and senior leadership is even more critical.
A lack of:

• Direction 
• Feedback 
• Recognition 

Quickly leads to disengagement.

What Actually Improves Retention

The SMEs that retain strong finance talent don’t necessarily offer the highest salaries.

They offer better roles.

Here’s what that looks like in practice:

1. Designing Roles Around Impact, Not Just Tasks
High-performing finance professionals want to add value.

That means:

• Involving them in commercial decisions 
• Giving ownership of projects (not just processes) 
• Allowing them to challenge and influence 

Even small changes in exposure can significantly increase engagement.

2. Creating Real (Not Theoretical) Progression
Progression doesn’t have to mean immediate promotion.

But it does need to be:

• Defined 
• Communicated 
• Backed by action 

This could include:

• Expanding responsibilities 
• Leading projects or teams 
• Clear timelines for development 

Without this, retention becomes reactive.

3. Getting the Structure Right Beneath Them
One of the biggest retention risks is overloading strong performers.

If your Finance Manager is still heavily involved in transactional work, or your Financial Controller is fixing basic reporting issues, they won’t stay long-term.

Retention often improves when SMEs:

• Strengthen junior and mid-level support 
• Invest in systems and processes 
• Reduce manual workload 

This allows senior individuals to operate at the level they were hired for.

4. Consistent, Visible Leadership
Finance professionals want clarity.

That comes from:

• Regular communication 
• Clear expectations 
• Being included in business conversations 

In SMEs, this doesn’t require formal structures - but it does require intent.

The Commercial Impact of Retention

Losing a finance professional is rarely just a hiring problem.
It creates:

• Disruption to reporting and controls 
• Loss of business knowledge 
• Reduced confidence in financial insight 
• Pressure on the wider team 

And in many cases, it resets progress.
Strong retention isn’t just about people - it’s about protecting business performance.

Final Thought

Retention isn’t solved through perks or one-off salary increases.
It’s built through:

• Better role design 
• Stronger leadership 
• Clearer progression 

And giving finance professionals the opportunity to do what they do best 
The SMEs that get this right don’t just retain talent - they get more value from it.

How Huntress Can Support

At Huntress, we work closely with SMEs to understand not just how to attract finance talent, but how to retain it.

From benchmarking roles and salaries to advising on team structure and progression, we help businesses build finance functions that people want to stay in.

If you’re experiencing turnover, or want to future-proof your team, we’re always happy to share insight from the market.