Accounting, Finance and Information Technology (IT) professionals are highly sought after in today’s work environment.
The fall weather is upon us and as the leaves change, so do many aspects of businesses and professionals in the workplace. If you’re a hiring manager, or on the opposite spectrum, someone looking to make a career move, now is a good time to reevaluate your plans for the remainder of the year, and beyond.
The U.S. Bureau of Labor Statistics recently reported an increase in added jobs (248,000) and a decreased unemployment rate of 5.9 percent. They further mention, “The college-level unemployment rate, which can serve as a proxy for professional employment, fell to 2.9 percent in September from 3.2 percent in August.”
The assessment for accounting, finance and IT professionals is likely fewer than the reported 2.9 percent, according to Brilliant™.
In fact, the Q4 2014 Accounting, Finance and IT Hiring Forecast recently published by Brilliant™ reports a strong demand for accounting, finance and IT professionals.
The Brilliant™ Hiring Forecast revealed a significant number of open positions and robust plans for increased hiring of these individuals in Q4 2014, both permanent and temporary, by nearly 250 survey respondents.
“One in three companies surveyed plan to increase the overall size of their accounting, finance and IT departments,” says Dr. Richard Curtin, Professor and Director of Surveys at the University of Michigan at Ann Arbor. “And, a significant number of them anticipated hiring more temporary, temp-to-hire and contract employees in the year ahead.”
Similarly, the U.S. Bureau of Labor Statistics reported the temporary penetration rate reached a new high — 2.10 percent in September 2014.
The trend continues of more demand for accounting, finance and IT professionals than available qualified applicants, both for permanent and temporary roles. Quarter over quarter, we’ve seen this pattern emerging.
Take a look at some of the other highlights from the Brilliant™ Q4 2014 Hiring Forecast:
Economic Strength
The majority of Brilliant™ survey respondents (54 percent) reported that the overall economic situation of their companies had improved the past year. This is a higher percentage than the Q3 2014 forecast (43 percent) and even higher than the same time last year (32 percent).
More Hiring Planned
Survey respondents reported that they plan to increase the hiring of accounting / finance professionals (28 percent) and IT professionals (34 percent) in the coming quarter. Only 3 percent planned to decrease the hiring of accounting / finance professionals (down from 9 percent last quarter) and no companies reported a decrease in hiring IT staff.
Successful Sources
Hiring companies are looking to staffing firms and personal referrals for assistance in finding qualified candidates – citing the two resources as number one and number two most successful, respectively.
Temporary Roles
Survey respondents reported plans to increase their hiring of temporary accounting / finance employees by 16 percent and temporary IT professionals by 18 percent.
Social Media
While 60 percent of businesses used social media as a recruitment tool for accounting / finance and 54 percent for IT, all companies cited LinkedIn as the most effective social platform.
To access the full Brilliant™ Q4 2014 Accounting, Finance and IT Hiring Forecast, download it HERE.
Do you have other insight to report regarding the hiring trends of accounting, finance and IT professionals in the coming year? Comment below and let us know!