When it comes to recruiting talent, the accounting and finance fields have a unique employment market. Accounting and finance hiring managers have to understand what candidates want, yet this often changes over time. Two of the most prominent trends right now in accounting include the high demand for contract workers and the rise in demand for temp-to-hire employees.
Trends in Accounting: Contract Positions
Currently, there are many exciting contract positions in the accounting and finance sectors. Yet, many of these positions are slow to fill because of the low unemployment rate. In addition, not enough people know about these hidden gems! So, there is currently a shortage of candidates for contract positions. Contract work is great for people who are in-between jobs because positions often last 3-6 months and they can work while also searching for a more permanent job. Contract positions are also excellent choices for working mothers and fathers, people who want the summer off, and people who are semi-retired. Another advantage of contract work is that it gives employees the flexibility to travel. An example is a position where someone might work one month per quarter for a client on a recurring contract. Once you know who you need to appeal to, it is easier to fill these positions.
In accounting, temp work is currently needed at all levels. Temp-to-hire is needed for payroll, accounts payable, clerical work, and general accounting. Temp-to-hire positions typically have a salary range between $40,000 and $80,000. Temp to hire is useful because both the employer and the employee have a chance to test each other. If it is a good fit, temp work can lead to a full-time position. This is great for candidates because they can experience the work environment before making a long-term commitment. It is also great for hiring managers because they will feel more confident in their hires if they can see the candidate in action first.
Tuning in to generational trends can help organizations target their in-demand positions to the right groups. Many candidates who are in the boomer generation might consider a part-time opportunity rather than a full-time position. The candidates might be semi-retired, so they want something to keep them engaged but also give them the freedom to travel and focus on hobbies. Other groups that could be good candidates for contract or temp-to-hire positions are Generation X and millennials. Many Gen X and millennials have young kids or are in the process of starting families. They often express their desire for flexible schedules and any benefits that allow them to spend time with family. For parents, work-life balance is extremely important. For example, a mom or dad with young children might want an opportunity to supplement their family’s income without having to spend too much on childcare.
If you are hiring in accounting and finance right now, pay close attention to your candidate pool and how they may fit with contract or temp-to-hire positions. These positions are often difficult to fill, but if you can appeal to the right people, you can end up finding highly skilled candidates.
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