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Global Talent Crunch for Accounting and Finance Professionals
Attention Business/Workplace Editor/Reporter TORONTO Oct. 9 Employers around the world continue to feel the effects of a shortage of accounting and finance professionals, according to the recently released Robert Half International Global Financial Employment Monitor. More than half of the finance and human resources managers surveyed - 56 per cent - reported difficulty finding skilled job candidates, and 43 per cent expressed concern about losing top performers to other job opportunities. The situation is most severe in Asia, where more than four out of five respondents from both Japan (83 per cent) and Hong Kong (82 per cent) reported finding skilled financial professionals was a challenge. The international 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 5,000 finance and human resources managers in 17 countries throughout North America, Europe and the Asia-Pacific region. The overall margin of error is +/- 1.4 per cent, and the results are within 95 per cent certainty. The report indicates widespread difficulty finding skilled candidates and significant time and effort spent on interviewing and hiring. Currently, companies around the globe are spending an average of five weeks to fill staff-level accounting and finance positions and eight weeks for management roles. "Recruiting and retaining top financial professionals may become more challenging in the years ahead due to increasing demand for this expertise and the potential retirement of millions of baby boomers around the world," said Max Messmer, chairman and CEO of Robert Half International. "To build effective teams, employers will need to offer attractive compensation packages, as well as programs that support professional development and work-life balance." When asked to identify the most sought-after attribute for executives, respondents in nearly every country said experience in compliance was needed most. This underscores the increased international emphasis on corporate governance. Managers in Canada reported the greatest difficulty hiring operational support personnel. In response, many companies are moving quickly to secure these candidates. For open staff-level positions, Canadian respondents said their firms are taking five weeks to hire candidates, which is on par with the global average. For management roles, Canadian respondents said their firms are taking six weeks on average to fill open positions, two weeks less than the global average of eight weeks. The Global Financial Employment Monitor analyzes current hiring trends in accounting and finance, including topics such as the challenge of finding skilled talent, the time it takes to fill staff and management positions, in-demand executive-level attributes, and employee retention concerns. Robert Half International has more than 350 staffing locations in North America, South America, Europe and the Asia-Pacific region. For more information about the company, visit www.rhi.com. NOTE TO EDITORS: For a copy of the Global Financial Employment Monitor or CONTACT:Jason Chapman, (416) 350-2330, jason.chapman@rhi.com October 9, 2007
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