Confidence Rebounded Among Finance and Accounting Employees in Fourth Quarter 2014
Atlanta, February 23, 2015
– The Randstad Professionals’ Finance & Accounting Employee Confidence Index rebounded to 59.9 during the fourth quarter of 2014, up from 57.5 in the third quarter. The online survey of 163 finance and accounting employees was conducted in October, November and December of 2014 by Harris Poll on behalf of Randstad Professionals. Results indicated that confidence among finance and accounting workers grew in regards to the overall strength of the economy, as well as labor market conditions.
In fact, nearly 4 in 10 workers (39%) said they believed the economy was getting stronger, a 15 percentage point increase from 24 percent in third quarter. Additionally, 30 percent said they believed there were more jobs available, while more than half (51%) said they were confident in their ability to find a new job. As a result, significantly more finance and accounting employees said it was likely they would look for a new job. Nearly 4 in 10 (38%) accounting and finance workers said they would likely pursue new employment opportunities over the following 12 months, an increase of 13 percentage points from third quarter 2014.
The only aspect of the survey that reported significant decline was finance and accounting professionals’ confidence in the future of their current employer. During the fourth quarter of 2014, 59 percent expressed confidence in the future of their employer, a decline from 64 percent from third quarter. Similarly, 17 percent said they were not confident in the future of their current employer, a rise of five percentage points from third quarter.
A fourth quarter CFO survey for North America by Tatum, a Randstad company, also found that CFOs were optimistic about their organization’s prospects for 2015. The Survey of Business Conditions found that 67 percent and 61 percent of Tatum CFOs and external CFOs, respectively, expect business conditions in 2015 to be better than those in 2014. When asked for the macroeconomic factors influencing their optimism, the executives cited greater consumer confidence, more discretionary spending, lower costs (primarily energy, but other goods and commodities, too) and improving labor markets. CFOs with smaller companies tended to be less enthusiastic about business conditions in 2015, as did energy sector companies. Most of those who predicted worse conditions cited the negative consequences from falling energy prices.
“Economic conditions certainly improved during 2014 and set the stage for substantial growth and more aggressive hiring levels in 2015,” said Rebecca Henderson, Group President, Randstad Professional Solutions. “As firms and companies face more difficulties in filling vital openings with qualified, skilled accounting and finance professionals, they may also have to contend with increasing vacancies, as more of these workers explore new opportunities that arise from a growing economy. As our survey indicated, nearly 40 percent of finance and accounting workers have plans to change jobs in 2015.
“The need to maintain adequate staffing levels, combined with high costs resulting from poor hiring decisions, has many companies relying on staffing firms to provide subcontractors or temporary professionals now more than ever,” continued Henderson. “In a more competitive talent market, the ability to tap into another source of sought-after accounting and finance professionals, who can meet immediate business needs on a more flexible basis, is crucial to an organization’s success.”
Q4 2014 Survey Highlights:
Many Workers Believed Fewer Jobs Were Available
More Workers Believed the Economy was Getting Stronger
- Nearly half (44%) of finance and accounting workers believed there were fewer jobs available during fourth quarter, compared to 37 percent in third quarter.
Job Security Remained Very High
- Increasing significantly during fourth quarter, nearly 4 in 10 (39%) of finance and accounting workers believed the economy was getting stronger, compared to 24 percent in the third quarter.
Employer Confidence Diminished
- Only 11 percent of workers believed it was likely they would lose their job over the following 12 months, a decline of one percentage point from third quarter. A full 80 percent felt secure in their jobs – maintaining it is unlikely they will lose their job in the next 12 months.
- Less than 6 in 10 (59%) finance and accounting employees were confident in the future of their current employer, a five percent decline from third quarter.
This survey was conducted online within the United States by Harris Poll on behalf of Randstad Professionals from October 8-10, November 3-5 and December 2-4, 2014 among 3,144 adults ages 18 and older, of which 163 are employed in finance and accounting. This online survey is not based on a probability sample, and therefore, no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact firstname.lastname@example.org
About Randstad Professionals
Randstad Professionals is a leading professional placement firm that specializes in recruiting for positions in finance and accounting, human resources, legal and sales and marketing. The firm provides recruiting services to Fortune 500 and small- to mid-sized companies through its extensive network of offices across the nation. For more information, please visit www.randstadusa.com
About Randstad US
Randstad US is a wholly owned subsidiary of Randstad Holding nv, a $22.0 billion global provider of HR services. As the third largest staffing organization in the U.S., Randstad holds top positions in permanent placement, office and administrative, IT and accounting and finance. From professional services, commercial staffing, recruitment process outsourcing, to managed services and more, Randstad delivers a comprehensive range of temporary, temporary-to-hire, permanent placement and outsourced placement services. With its 5,324 employment experts, Randstad puts an average of approximately 100,000 people to work in the U.S. each week, through its network of nearly 1,000 branches and client-dedicated locations.
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