Attracting and Retaining Finance Talent to Improve City Operations
Demographic and economic trends in Los Angeles, the second most populous city in the country, have left its Office of Finance (OF) understaffed and unprepared to meet the city’s financial needs. With nearly a third of workers within two years of retirement and an improved economy that has resulted in fewer job applicants for civic positions, the department is having difficulty with fully staffing its 300-plus person organization. Central to operations across the city, the OF is also responsible for contributing nearly $4 billion annually to the city’s general fund through various tax categories. The Office of Finance is seeking new strategies for recruitment and retention, not only to bring in qualified employees, but also to build a pipeline within the department of leaders who feel a sense of stewardship over the city and its finances.
To support this work, the agency is partnering with FUSE executive fellow David Underwood, who is directing the development of an overarching recruitment and retention strategy for the department.