Global Talent Shortage continues in Accounting and Finance
Finds Hiring and Retaining Skilled Professionals Still Challenging
A shortage of experienced accounting and finance
professionals continues to affect employers around the world, according to the
second annual Robert Half Global Financial Employment Monitor. For the second
consecutive year, more than half (56 percent) of the finance and human resources
managers surveyed worldwide reported difficulty finding skilled job candidates.
The report also found that retention concerns have risen significantly in the
last year: 58 percent of respondents worldwide and 73 percent of respondents in
the United States
expressed concern about losing their top performers to other job opportunities,
up from 43 percent and 46 percent, respectively, in 2007.
global study was developed by Robert Half International, the world’s first and
largest staffing services firm specializing in accounting and finance, and
conducted by an independent research firm. The survey includes responses from
more than 4,000 finance and human resources managers in 20 countries. The
overall margin of error is +/- 1.5 percent, and the results are within 95
results of this year’s report reflect the challenges hiring managers around the
world continue to face in locating and retaining highly skilled accounting and
finance professionals,” said Greg Scileppi, director of international operations
for Robert Half International. “The perennial need for strong financial
functions is fueling competition for the best candidates and prompting companies
to develop more effective strategies to prevent the loss of their most valued
report indicates employers worldwide are spending significant time and effort
interviewing job candidates in an effort to ensure a successful hire.
Respondents said they are holding an average of three interviews per candidate
before filling staff-level positions, compared to only two interviews last year.
Employers also reported using project professionals more often, and at more
senior levels, than during the last three years.
addition, the Global Financial Employment Monitor revealed a dramatic shift in
the most sought-after attributes of executive-level job candidates. Hiring
managers surveyed from the United States said industry knowledge and experience
was the most important attribute -- a trend reported in 16 of 20 countries
surveyed. This reflects a marked change from last year’s report, in which
regulatory compliance expertise was the leading response.
global demand for executives with deep industry expertise represents a renewed
emphasis on fundamental competitive performance,” added Scileppi. “As regulatory
compliance efforts have become better established, firms are returning their
focus to maintaining an edge within their industries and seeking leaders who can
help them do so.”