Survey Research & Economic Data
2022 AFP FP&A Benchmarking: Practitioner Planning Report
Underwritten by Workday
The 2022 Association for Financial Professionals (AFP) FP&A Benchmarking: Practitioner Planning Report, supported by Workday, allows companies to compare their 2022 assumptions in areas related to pandemic response, supply chain disruptions, inflation, and other areas against those shared by their peers. The objective of the 2022 FP&A Benchmarking Survey is to help finance practitioners create and defend their planning assumptions in selected challenging areas, by creating benchmarkable data from their peers in the finance community. The analysis is based on responses from 223 global practitioners. The survey was underwritten by Workday, and we thank them for their support.
Report findings reveal that after a period of hesitancy, finance practitioners indicate they are ready to deploy capital to grow their enterprises. Most organizations are planning for increased revenue, and more spending on capital projects, research and development, and throughout their income statements; about half of them plan to forego earnings growth.
The survey also reveals that COVID-19 has changed where we work, and has shown that we are not going back to the past. The data indicates a wide distribution as to the number of days in the office; the corresponding decrease in spend on office space plus the competition for talent combine to create varied business models for how we work and live.
Other insights include:
• Environment, social and governance (ESG) is finding a home in organizations and finance planning. Findings show that organizations are moving faster than expected to incorporate ESG goals into their business models.
• Employee turnover seems to have peaked in 2021. Practitioner expectations for 2022 are for slight improvements in employee turnover.
• Despite the challenge of planning and forecasting, our respondents indicate that budgets remain in demand.
AFP thanks Workday for its support of the 2022 AFP® FP&A Benchmarking: Practitioner Planning Report.
Questions about this subject?
Contact Bryan Lapidus, Director of FP&A Practice at AFP.