2018 is a great time for working in finance and accounting, but, it is not that amazing for HR recruiters. As the market for accounting and finance professionals is evolving, it is getting complicated for human resource managers to hire efficient employees.
With this, both the companies and professionals have set standards for finance and accounting work and it is essential to meet both the demands.
Here are Top Accounting and Finance Hiring Trends that you may see in coming quarters of 2018.
High Demand for Finance Skills
It is very unlikely that the demand for finance and accounting hiring will cease. This is because no matter what the company progress is, they’ll always have financial reports to look after.
Then, again, it comes down to resourceful employees. Although the demand is high, there is a lack of employees who are the right fit for the job. Every organization is looking for a person who has years of experience in this work because this is needed to cope up with increasing complexity of this profession.
To meet the quality standards, many small and medium organizations have also started outsourcing this work to partners with wide experience.
Work-Life Balance for Employees
While high demand is employer perspective, work-life balance tops the list of employees. This is more common in new generation as they are looking for flexible schedules and ability to work free from pressure.
The demand for work-life balance includes various factors which are different for every employee. These factors are flexible work hours in terms that the employee is allowed to come early and leave early, take work-from-home, and adjust unpaid leaves with compensatory offs.
It takes various forms with different people and every professional in this profession has a diverse expectation.
Ability to Cope Up With IT
IT skills are important for every field today. There is not a single task that we do without computers and varied software. Hence, organizations require a professional who can use IT and technology to increase efficiency in work.
Nowadays, accounting and finance working is made more resourceful with technology. And why not? Technology provides a way to easily analyze large sets of data and offer insights that are of great significance to the organization.
The Expectation Shift
While older generation is not much bothered about the work type, environment, and office perks, the younger generation is thoroughly looking for these things.
For the young generation, it is not about money anymore. They look forward to benefits they will get at workplace. These benefits and expectations include being able to work on diverse projects, ability to explore business intricacies rather than just making reports, and constant evolution of financing process.
With this, some look for a constant learning environment and others go for a more casual workplace.
The Struggle of Retention
The reason for adding this to latest trends is because this is one of the biggest struggles that companies face now. It is becoming a trend amongst young generation to leave one job barely after a year. They start looking for a new place, new people, and maybe move to another city.
This tendency to shift to a new job brings HR managers under scrutiny and they have to look for new employees. Then, work towards retaining these new employees.
To avoid your employees from leaving, you need to drop old habits for starters, and then you can think of the further process. You need to enter into the shoes of your employees and understand what they want and why they want to leave. It won’t be hard to recognize because most employees are pretty upfront about their work expectations. Try to make a change aligned to this demand. It can be flexible schedule or light working environment.
It is essential to catch up with these new trends in hiring accounting and finance employees because employees are changing. Most organizations are lagging behind when it comes to meeting employee expectations. Hence, buckle up your seatbelts and work towards adjusting to these industry demands for retaining efficient employees.