Companies also are commonly finding a lack of candidates for highly sought accounting roles. The addition of new accounting and finance positions will help support organizational growth and bench strength given impending Baby Boomer retirements. Companies that want to prevent the ‘brain drain’ are preparing now for future needs. PrideStaff Financial wants to keep you in the know; here are the accounting hiring trends for 2014.
- According to a recent survey, there is a big data push, with companies looking to hire accounting and finance professionals who don’t just analyze the data, but who can tell the complete story behind the data and make strategic recommendations to the company.
- Starting wages for financial analysts at large corporations are projected to increase 4.3 percent over 2013 for professionals with up to one year of experience, 4.2 percent for those with between one and three years of experience, and Financial analysts with over five years of experience can expect a 4.3 percent rise in starting salary compared to last year at small to midsize corporations.
- There is increased interest in the trend of leveraging the cloud to move traditional transactional client accounting services up to a transformational service that can provide higher-value advisory services.
- There are a lot of firms trying to figure out what their road map should be. For instance, consulting is making a big push in the accounting world. More and more companies are expanding their services to include tax and accounting consulting. So hiring those who have this experience is instrumental.
- The mobile workforce is another major trend and it’s not just about technology, it’s about people issues, too. There is an increased need for accountants to understand the client’s practice behind the numbers. So hiring the right accountants that are versed in this type of technology and how to humanize it is critical going forward.
- The good news is that the hiring demand is higher than ever, but the profession’s goals of hiring more diverse staff are being challenged by a lack of diversity in the talent pool. Accounting and tax businesses are looking to diversify their talent, and it’s a trend that will exert itself going into 2014.
- Lateral hiring is also on the move for 2014. Lateral hiring of partners and leaders by accounting firms from competing accounting firms is on the rise, according to a new study by the Koltin Consulting Group, which found that firms are increasingly spending money on recruiting “heavyweight” partners from other firms in order to accelerate growth.
The tax and accounting profession is growing and in multiple directions. It’s not just about numbers anymore. If you’re looking for a company that will utilize your full potential, PrideStaff Financial can help. Contact us to learn more!