Low Unemployment and Increased Demand for Accounting & Finance Professionals Causing Talent Shortage

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PrideStaff Financial reports that continuing low unemployment rates within accounting and finance will make hiring top industry professionals even more challenging for the foreseeable future.

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Unemployment within accounting and finance has been below four percent for a prolonged period, creating a chronic, wide-spread shortage of talent

PrideStaff Financial reports that continuing low unemployment rates within accounting and finance will make hiring top industry professionals even more challenging for the foreseeable future.

"Unemployment within accounting and finance has been below four percent for a prolonged period, creating a chronic, wide-spread shortage of talent," states Ryan Williams, Vice President of PrideStaff Financial. "Employment market conditions aren't likely to change anytime soon, which means that time-to-hire for qualified accounting professionals will continue to increase."

To find the talent they need, Williams recommends that employers take a more open-minded approach to recruiting and hiring. "If you're struggling to hire a candidate with specific skills or experience, broaden the scope of your search. Prioritize the position's basic requirements to make your search more inclusive, and then plan to train your new hire on the specifics you need. Alternately," continues Williams, "consider over-hiring for your role. If you find a great candidate who's more than qualified, 'pay up' to bring him or her into your organization, and grow the role over time to take full advantage of his or her abilities."

Williams admits that these strategies go against the grain of the "exact" nature of accounting, but he cautions employers to be realistic and flexible when hiring in such a tight market. "PrideStaff Financial recruits ahead of market demand, so we know which talent shortages are most acute," states Williams. "We're honest with clients about what to expect from skills, salary and time-to-hire perspectives, and we provide practical solutions to help them find the talented professionals they need – even in these tough recruiting times."

For recruiting assistance, hiring advice or a free compensation analysis, contact a representative at your local PrideStaff Financial office.

About PrideStaff Financial:
PrideStaff Financial specializes in accounting and financial staffing and is a division of PrideStaff, an organization with over 65 offices in North America to serve over 4,500 clients. Founded in the 1970s as 100 percent company-owned units the company began staffing franchising in 1995. With over 40 years in the staffing business, headquartered in Fresno, CA, PrideStaff offers the resources and expertise of a national firm with the spirit, dedication and personal service of smaller, entrepreneurial firms. For more information on PrideStaff services or for franchise information, visit http://www.pridestaff.com or http://www.pridestafffinancial.com.

PrideStaff’s Mission: Consistently provide client experiences focused on what they value most.

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Tammi Heaton
PrideStaff
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