When you peel back the layers of successful organizations, you find the people who drive innovation, collaboration, and results. To stay competitive in 2025, you need financial planning process upgrades that ensure you’ve got the right talent where it matters most.

However, the buck doesn't stop there. It's undeniable that top talent is a key metric in hiring decisions. But if management only bases its hiring plans on skill sets alone, they may find, further down the line, that although they have talented employees, they're not the right hires to support the company's long-term goals.

So, how do you build a talented, dedicated, and collaborative team that'll take your business to new heights? The answer is simple: people planning.

And as financial professionals, we all know it's critical to crunch the numbers when identifying available budgets for key talent—regardless of roles or departments. In this guide, we'll show you how people planning applies specifically to the finance team so you can build the roadmap for your #FinanceDreamTeam based on your company's KPIs and growth plans.

At Abacum, we're an FP&A software company that helps your financial team rise above the rest. If you're looking to level up your team and take a more modern approach to hiring, we're here to help.

Why People Planning Matters for Finance Teams

People planning is a strategic approach that ensures your finance team is positioned to tackle emerging challenges in a rapidly evolving business landscape. By proactively identifying future talent needs and investing in the right individuals, you'll create a resilient finance department that can adapt to change and effectively support overall business objectives. Companies investing in career development retain 94% more employees.

People planning 101: A strategy for your future workforce

Let's get down to basics, shall we? People planning is a talent-focused process that lets companies identify the skills, characteristics, and strengths their future employees will possess. By recognizing future employees' desired strengths and skill sets, a company can better meet its business plan objectives. This form of strategic workforce planning ultimately lets top executives make better decisions for the success of the business and its people.

Replacing an employee can be expensive, as it costs 30-40% in hard costs (recruitment, onboarding) and 60% in soft costs (lost productivity, managerial time). For a $60,000 salary role, total replacement costs can reach $180,000.

In today's evolving workforce, there's already been a shift in the mindset of top executives to support people planning initiatives. According to a study done by the Harvard Business Review:

“40% of respondents stated that they include a human resource component in their long-term business plans.”

This growing number shows that founders and executives across all industries see the importance of people planning for their business's success.

Aligning People Planning with Organizational Goals

For finance leaders, people planning isn't just about headcount—it's about ensuring each role directly supports your company's key performance indicators (KPIs) or objectives and key results (OKRs). By mapping out specific finance roles to strategic goals, you'll create a team structure that maximizes productivity and accountability.

When you align headcount with core objectives, it's easier to measure the impact of each team member and quickly adapt as those objectives shift. This alignment also streamlines budgeting, making it clear how resources should be allocated to support both the finance team's deliverables and the organization's broader vision.

Ultimately, tying people planning to organizational goals helps finance leaders communicate the value of every hire, fostering a culture where performance is measured by results and collaboration is at the forefront.

What are the Core Components of Effective People Planning?

By putting your best foot forward and following a strategic people planning process, you'll be able to set your team up for success from the very beginning. As a CFO or financial manager, you know the company's success relies on having the right people in the right roles. Now that you have a better grasp on what people planning entails, it's time to discuss the different steps involved.

Step 1: Review your current talent

As a manager, how do you think your team is performing? Do you feel there are talent gaps your current employees can't satisfy? Is your financial team aware and well-versed in the latest FP&A trends?

By outlining the strengths and weaknesses of your current employees, you'll then be able to hire new talent that bridges any gaps to form a more cohesive team.

Step 2: Create an outline of your future goals

Before you start hiring, take some time to revisit your business plan and overall objectives. Where do you see your team going, and how do you plan on getting there? By having a clear vision of what your future goals look like, you'll be able to hire accordingly and build a team that meets these growing demands.

Step 3: Analyze current gaps

Now that you've outlined your future goals, it's time to reflect on where your current financial team is lacking. Are you looking for someone with a wide skill set who can wear many hats? Do you need an accounting or FP&A manager who's an expert in SaaS forecasting? Analyze your current team and pinpoint any hidden discrepancies.

Learn more: “No-BS” SaaS forecasting tips for scale-ups

Step 4: Budget effectively

By analyzing cash flows and financial statements, you'll have the up-to-date data you need to budget for top talent. Check out Abacum's FP&A tool to streamline your budgeting, and register for a demo to see how it can work for your company.

Step 5: Identify the solution

Once you've done your due diligence and proper planning, it's time to take initiative. Keep in mind that team development should always remain at the core of your business. By training and investing in your current team, you'll meet objectives and support company-wide goals. If you've identified any gaps, hire candidates who can fill these roles.

Step 6: Watch your colleagues go green with envy

Now that you've implemented your people planning strategies to create the #FinanceDreamTeam, share these best practices and steps with your cross-department colleagues. Show them how they can apply these tactics to create their own dream team.

Step 7: Addressing Succession Planning and Talent Gaps

It's crucial for finance teams to plan for leadership transitions and key role vacancies well in advance. By identifying potential successors and cross-training current team members, you'll create a seamless transition when critical positions become available.

This proactive approach also helps you spot talent gaps early on, so you can recruit or develop team members with the skills needed to keep your finance function strong. With a solid succession plan, your organization's financial health won't be jeopardized by unforeseen changes in personnel.

The Power of Prepping: How Setting Goals Leads to Business Success

A successful financial team does more than just crunch numbers and review spreadsheets. The finance team leads forecasting, driving strategic decision-making for the wider business. It's no secret that the financial team is at the core of a company's future success.

As a financial leader in your company, you need to build a team that's resilient, adaptive, and goal-oriented. By taking a people planning approach to your hiring process, you'll not only streamline business initiatives across all teams, but you'll also support long-term business goals like never before.

How to Start Creating a High-Performing Finance Team?

So you've had a clear vision, you've created a strategic plan, you've hired the perfect team, and now it's time to drive results. As a financial leader, it's your job to train your team to be well-versed in industry trends and technology. Now that you've assembled your lineup of star players for your finance team, it's time to seize this opportunity and focus on what matters most: forecasting and financial planning.

We're here to make your life easier by handling the heavy lifting of financial forecasts and reporting, so you can focus on building a high-impact finance team aligned with your company's KPIs and growth plans. With Abacum, your finance team becomes a true strategic partner, driving time-to-insight through powerful automation and seamless collaboration. Don't spend hours sifting through spreadsheets—let us optimize your financial processes, so you can concentrate on strategic growth and innovation.

Model, forecast and plan your headcount in one place with Abacum 🚀 📊

‍Request a demo now to see the product live and start your own journey.

Conclusion: Next Steps in People Planning

People planning isn't a one-time project—it's an ongoing strategy that grows with your business. By continuously evaluating your team's strengths, addressing any gaps, and aligning headcount to organizational objectives, you'll ensure long-term success for your finance function. Abacum is here to support you on that journey with the tools and insights you need to make data-driven hiring decisions.

Ready to take your finance team's planning to the next level? Request a demo and discover how our platform can help you build a future-ready finance team.