There’s fierce competition when it comes to hiring accounting, tax and audit professionals. As a manager, what can you do to keep your finger on the pulse of the candidate market and get the people you need, where and when you need them? It’s important to be aware of a few accounting hiring trends for 2020. Here’s a look at five of them:
Trend #1: Demand for accounting professionals will continue to rise.
There’s still big demand for accountants and with the number of people entering the field remaining relatively stagnant, leading to a talent gap. In fact, according to the US Department of Labor, unemployment is at around 2% for those in the accounting field. In terms of the skills most in need, they include CPA, internal auditors, tax professionals and general accountants.
Trend #2: It’s harder to retain top accounting professionals.
Since accountants are at an advantage in the employment marketplace, they’re taking on new opportunities faster that come their way. Many accountants will, for instance, make a move if offered a new position with a greater income from a competing company.
Trend #3: The need for temp CPA hiring in the tax season is growing.
The US Bureau of Labor Statistics reports that in February, employment is at an all-time high for tax preparation services. It’s no surprise considering that so many service providers hire temporary workers, including temp CPAs, to meet demand. Beyond temporary work, remote employment among accountants is also on the rise.
Trend #4: Employers are seeking accounting professionals with higher-level skills.
Thanks to the evolution of technology, basic accounting tasks can now be handled by software programs. It’s why employers are looking for those accounting professionals who have a higher, more specialized skill level.
For example, knowledge of big data analysis and advanced modeling techniques are both increasingly in demand. On top of that, these skills are typically not taught through most accounting programs, making those professionals with them harder to find.
Trend #5: The use of specialized recruitment services is on the rise.
The use of specialized recruitment services is on the rise overall in the finance and accounting industry. This is for the simple reason that demand is so high and competition so strong that many companies are turning to these service providers for help in identifying, sourcing and recruiting candidates faster.
Interested in learning more about using an accounting staffing service firm?
Provisional Recruiting is here for you. Whether you’re hiring accounting managers, staff accountants, bookkeepers or payroll professionals, we’re here for you. We can help you find the professionals you need on a contract, contract-to-hire and full-time basis. Get started now!
