“With strong company growth expected throughout nearly every industry represented in the survey, accounting and finance talent will continue to be in high demand,” Andrea Jennings, vice president and general manager of Lucas Group Accounting & Finance, an executive search firm, said in a prepared statement announcing the results from its annual accounting and finance hiring manager survey.
According to the survey, business growth and hiring trends continue to increase and reflect positive hiring projections for the next 12 months. In a significant increase over 2005, 68 percent of those surveyed predict strong to very strong company growth. Of almost every industry represented in the survey, 50 percent or more predict strong or very strong growth in the next year.
Within the next year, 63 percent of respondents plan to hire accounting and/or finance personnel. Of the companies projecting hiring, 86 percent feel hiring needs are attributed to company growth, attrition, or a combination of both. Companies are challenged, however, to find qualified candidates in positions, including senior-level to manager-level accounting, audit, financial analysts and entry-level accountants.
“We are still seeing a shortage of quality talent in accounting and finance,” said Jennings. “With our tenure, market knowledge, and international reach, we have exposure to the best talent, but with demand outpacing supply, quality talent is hard find in certain areas.”
Shortage of qualified talent aligns with the Bureau of Labor Statistics (BLS) findings, which report that employment for financial analyst and personal finance advisor positions is expected to increase faster than average through 2014. The BLS also reports that the demand will continue to increase for finance managerial occupations as a result of regulatory reform and expansion of the economy.