Despite the highest unemployment level in more than a quarter of a century, some employers are having a difficult time finding and retaining skilled accounting and finance professionals, according to a new survey.
The annual Global Financial Employment Monitor, by staffing company Robert Half International, found that 67 percent of the respondents around the world reported at least some level of recruiting difficulty.
Approximately 19 percent of the executives polled said it is very challenging to find skilled accounting and finance workers who are qualified to fill certain jobs, according to the survey, which polled more than 6,000 financial leaders across 19 countries.
Although a stronger recovery has yet to take hold in the U.S., 43 percent cited concerns about hiring financial workers.
“As we come out of the economic downturn, employers are looking for people with niche skill sets that can help companies grow,” said Kelleigh Marquard, metro market manager for Robert Half International’s Hartford region.
In Connecticut, where the unemployment rate in the accounting sector hangs between 2.6 percent and 3.5 percent, the demand for financial managers, accountants, auditors and business analysts is tight.
Candidates with experience in software conversions and data analysis are in hot demand in the Hartford region, according to Marquard.
“Some businesses are making strategic hires, particularly in areas essential to enhancing profitability and growth,” she said. “People who have the skills to do this are very vital to companies right now.
Retention concerns are rising too. The survey reported employers are more worried about losing their top performers to other job opportunities in the year ahead.
Employers who provide competitive compensation packages, employee recognition, open lines of communication, promotions and professional development opportunities are more likely to hold on to their workers, said Marquard.
According to RHI, 56 percent of the execs surveyed said they are either very or somewhat concerned about keeping their staff on board, up from 45 percent in 2010.
“Many firms are concerned about their ability to build and retain the accounting and finance teams they need to support the demands of the business,” said Robert Half International Chairman and CEO Max Messmer in a statement.
“Finding skilled professionals has become increasingly challenging and candidate shortages are emerging in some regions and specialty areas,” said Messmer.
Globally, positions identified as the most difficult to fill include controller, financial analyst, tax accountant, accounts payable and payroll.
In some countries, the results are much higher. The number of executives worried about keeping staff on board is up 16 points in Singapore, for example; 91 percent of respondents there said they see retention as an issue.
In Hong Kong and Brazil, 88 percent and 85 percent of financial leaders, respectively, said retention was a concern.
“We’re definitely going to see a strong demand over the next year in Connecticut for finance professionals that can help companies grow,” said Marquard.
