Mid-year Survey Indicates Finance and Accounting Workers Highly Confident in Ability to Find New Job
ATLANTA, Aug. 26, 2015 – The Randstad Professionals’ Finance & Accounting Employee Confidence Index (ECI) rose a staggering 8.3 points from year-end 2014 to reach 67.2 in mid-year 2015. The online survey of finance and accounting employees, conducted by Harris Poll on behalf of Randstad Professionals, measures workers’ perceptions regarding the overall strength of the economy, availability of jobs and personal employment prospects. Mid-year results indicate finance and accounting workers are exceptionally confident in regards to their personal employment situations—in fact, more than half (62%) say they are confident in their ability to find a new job, whereas less than 10 percent say they are not confident.
Similarly, more than three-quarters (78%) say it is unlikely they will lose their jobs over the next 12 months, and more than half (54%) say it is unlikely they will voluntarily leave their jobs. Moreover, the survey found workers are not only confident in themselves, but they are also confident in their employers. Sixty-four percent say they are confident in the future of their current employers, compared to only 11 percent who say the opposite.
“There is no question the accounting and finance sector has improved dramatically during the first half of 2015,” says Kathryn Bolt, Group President, Randstad Professionals and Tatum. “According to the Bureau of Labor Statistics, employment in financial activities rose by 17,000 in July, and overall employment has increased by 156,000 over the past 12 months. It seems finance and accounting workers are certainly taking heed of the improving market conditions, as our survey shows confidence levels continue to rise.”
Although recruiting highly experienced professionals and executives is a constant challenge companies face, it is worth mentioning that it is becoming increasingly more difficult to find entry-level candidates with the necessary skills to operate today’s complex information systems and data-analytics tools.
A recent report from the Institute of Management Accountants (IMA), which surveyed professionals working in the finance and HR/recruitment functions, revealed large gaps between competencies that organizations need to succeed and those that entry-level finance and accounting candidates actually possess. According to the report, half of survey participants say they experiencing increased time to fill entry-level positions and nearly one-third are hiring unqualified candidates.
“New graduates and professionals in the early stages of their finance or accounting career need to broaden their skills beyond simply earning more traditional certifications like the CPA,” says Bolt. “Many of our most sought-after candidates are those who have taken on a range of projects, are technically proficient, and those who pursue positions where they can develop their communication and strategic skills.”
Click here to visit our Workforce360 thought leadership site for a more detailed analysis of the current economic situation.
Mid-year 2015 Survey Highlights:
Most workers confident about their job prospects
• Sixty-two percent of finance and accounting workers are confident in their ability to find a new job.
Job security remains very high
• More than three-quarters (78%) of workers say it is unlikely they will lose their jobs over the next 12 months.
• On a positive note for employers, more than half (54%) say it is unlikely they will voluntarily leave their jobs in the next 12 months.
Confidence in employers improves
• Nearly two-thirds (64%) of finance and accounting employees are confident in the future of their current employer.
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 $22.9 billion global provider of HR services. As the third largest staffing organization in the United States, Randstad provides temporary, temporary-to-hire and permanent placement services each week to over 100,000 people through its network of more than 900 branches and client-dedicated locations. Employing over 5,300 recruiting experts, the company is a top provider of outsourcing, staffing, consulting and projects and workforce solutions within the areas of Engineering, Finance and Accounting, Healthcare, Human Resources, IT, Legal, Manufacturing & Logistics, Office & Administration, Pharma and Sales & Marketing.
Learn more at www.randstadusa.com and access Randstad’s panoramic U.S. thought leadership knowledge center through its Workforce360 site that offers valuable insight into the latest economic indicators and HR trends shaping the world of work.
This survey was conducted online within the United States by Harris Poll on behalf of Randstad Professionals from January 13-15, March 11-13, April 15-17 and June 9-11, 2015 among 3,978 adults ages 18 and older, of which 171 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. Industry-level ECI estimates referenced prior to 2015 were based on six monthly waves of aggregated data. The mid-year and year-end industry ECI estimates in 2015 are computed using four waves of periodic data collected across the indicated timeframe. For complete survey methodology, including weighting variables, please contact firstname.lastname@example.org.