Accounting & Finance Recruiting: Top Trends in 2018
Competition for finance and accounting talent is fierce. To stand out amongst competitors – and attract top talent – employers must find a way to stay on top of recruiting and staffing trends and challenges.
Below, we address the top trends in finance and accounting that will drive recruiting in 2018:
Continuous war for top talent: Competition is tough, and job seekers want to move fast. So, companies will need to move faster in their interview process and find ways to set themselves apart from other employers by selling a flexible work environment and strong company culture and mission – in addition to providing competitive compensation and benefits.
Find the right candidate, not the perfect candidate: Don’t expect every candidate to possess every skill set on your recruitment wish list. That’s rare – so employers need to be flexible, and be willing to interview and hire candidates who have some or most desired skills, not all.
Salaries will trickle upward: Salaries will continue to increase in 2018, and the biggest challenge will be for human resources departments who will need to find ways to ensure existing employees are compensated fairly – or risk losing them to competitors. If employers don’t pay enough, turnover could increase. The result? The employer then has to spend time and money recruiting – and paying –candidates to fill open roles of employees who left. Bottom line? Pay your successful employees well now, otherwise you’ll risk losing them resulting in higher costs to replace.
Job market movement: Even as salaries increase, cost of living still plays a role in recruiting. For example, look for New York finance and accounting professionals to make the move to Philadelphia – a highly diversified market with a strong finance and accounting presence – simply because it’s cheaper to live and work in Philadelphia than New York.
Top skills employers will seek in 2018: Due to increased M&A activity amongst large corporations, there will be demand in the areas of corporate development and private equity. There will be specific growth on the transaction finance side, which will then trickle down to all areas in accounting and operations.
As is the case in every industry, the need for professionals skilled in data analytics will creep into finance, accounting, and audit job descriptions. Candidates who have experience/skills with SQL and data visualization tools, such as Tableau and Qlikview, will be valued. Companies have lots of data – now the challenge is how to make the data useful. Those who have the skills to make that data valuable, will be coveted.
These are some of the top recruiting trends in the finance and accounting industry heading into 2018. Use these tips to stay ahead of the competition, and stand out in a competitive marketplace.
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