Q1: Confidence Among Finance and Accounting Workers Soars

  • jobs & the economy
  • May 15, 2014
The Randstad Professionals’ Finance & Accounting Employee Confidence Index reached a near seven-year high in the first quarter of 2014, rising by three points to 64.3. The last time confidence levels were this high in this sector was in 2007, at 67.5 in the third quarter. 

The score represents the highest confidence level among all industries surveyed by Randstad, including engineering, IT, manufacturing and logistics, office and administration and healthcare



Workplace Trends
Employees in the financial sector face a bright job outlook in 2014, as the economy continues to improve and businesses are in need of savvy financial professionals experienced in budgets, finances and spending. In a nationwide CareerBuilder survey of financial services hiring managers and human resources professionals, 35 percent of financial services employers reported they are increasing full-time headcount this year compared to 2013—11 points above the national average and up from 27 percent in 2013. 

"Job growth in financial services is expected to outpace job growth for all occupations in 2014," says Kevin Knapp, chief financial officer for CareerBuilder. "This is good news for job seekers in the sector, whose skills will be in-demand across a range of businesses and occupations that typically offer highly-competitive wages."

From the Desk of Rebecca Callahan, Group President, Randstad Professionals
“With financial professionals in-demand across all sectors, employee confidence has surged in the first quarter of 2014.”

Confidence among finance and accounting professionals has hit a seven-year high, and we aren’t surprised to see this surge in optimism within this sector. After all, the outlook for financial careers is very optimistic and demand for these skills continues to grow. In fact, several finance and accounting-related professions were among the top five ‘Best Business Jobs of 2014,’ according to U.S. News and World Report. The number one job was market research analyst, which the Bureau of Labor Statistics (BLS) predicts will grow by 31.6 percent between 2012 and 2022. Accountants also made the list, as the Labor Department predicts more than 166,000 new openings will be created between now and 2022. And finally, personal financial advisors will be in large demand, with the BLS anticipating a 27 percent employment growth over the next few years. 

With such a promising market, finance and accounting professionals are registering growing levels of employee confidence, according to our survey. Nearly three-quarters (71%) of accounting and finance workers feel confident in the future of their current employer, representing a 14 percentage point improvement from 57 percent last quarter.  And, the clear majority (82%) believe they are not likely to lose their jobs in the next 12 months, jumping up significantly from 69 percent in the fourth quarter of 2013. 

A Closer Look at the Findings: 






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Methodology
This survey was conducted online within the United States by Harris Poll on behalf of Randstad Professionals from January 6-8, February 3-5 and March 3-5, 2014 among 3,210 adults ages 18 and older, of which 152 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 lesly.cardec@randstadusa.com.

About Randstad Professionals 
Randstad Professionals is a leading professional placement firm that specializes in recruiting for positions in finance and accounting, human resources 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.

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.