About Me - San Antonio Chapter CPA Society...(average): 14 paid days off* 10 paid days off** Retention Is More Important Than Ever Companies know they can’t afford to lose a top

6/25/2019

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© 2018 Robert Half International Inc. An Equal Opportunity Employer M/F/Disability/Veterans.

2019 FinancialHiring andCompensationTrends

John Gulnac

Sr. Regional President

Robert Half

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Key Trends in Hiring and Compensation

▪ The hiring market is tight — and getting tighter

▪ Technology continues to transform the workplace.

▪ Job seekers’ expectations are changing.

▪ Importance of organizational culture.


TRENDS

The Hiring Market Is Tight —

and Getting Tighter


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The Candidate Shortage

▪ Accounting and finance professionals are in demand in nearly every industry.

▪ 91 percent of finance leaders report challenges in finding skilled professionals for job openings.


CANDIDATE

SHORTAGE

THE HIRING CLIMATE

For workers:

▪ National unemployment is at historically low levels.

▪ Demand for skilled professionals is high.

▪ Earnings have increased.

▪ Workers have confidence to make career moves.

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THE HIRING CLIMATE

For hiring managers:

▪ There are 7.6 million open jobs*

and a shortage of skilled talent.

▪ More workers are leaving for better opportunities.

▪ Employers aren’t meeting workers’ expectations.

▪ Workplace culture fit is a must.

*Job Openings and Labor Turnover – Jan. 2019, U.S. Bureau of Labor Statistics, Mar. 15, 2019.

Industry Leaders Confirm Today’s Reality

Hiring managers in many fields say a good hire is hard to find:

Source: Robert Half surveys of more than 4,500 hiring decision makers, Fall 2018.

Legal: 91%

Technology: 87%

Accounting and finance: 93%

Advertising and marketing: 92%

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Positions In Demand

ACCOUNTING & FINANCE

2.1%

1.2%

2.6%

1.6%

1.6%

1.6%

1.6%

Accounting clerks

Accounts payable specialists

Accounts receivable clerks

Accounting managers

Business analysts

Business systems analysts

Compliance analysts

Controllers

Financial analysts

Financial managers

Information technology auditors

Internal auditors

Payroll managers

Senior accountants

Staff accountants

Current Population Statistics, conducted by the U.S. Bureau of Labor Statistics, Jan. 4, 2019. Percentages reflect unemployment rates for select positions that are at or below the national unemployment rate for Dec. 2018.

TECHNOLOGY

1.2%

3.5%

1.2%

1.0%

0.3%

1.0%

Business intelligence analysts

Cloud architects

Cloud systems engineers

Data scientists

Database administrators

DevOps engineers

Full-stack developers

Help desk and desktop support professionals

IoT specialists

Mobile and software developers

Network administrators

Network architects

Security professionals (data, information, network, systems, cloud)

Systems administrators

CREATIVE & MARKETING

2.1%

2.1%

3.9%

1.7%

2.1%

2.8%

1.7%

1.7%

Content strategists

Copy editors

Digital marketing managers

Digital strategists

Email marketing specialists

Front-end web developers

Hybrid designers

Marketing analytics managers

Project managers

Public relations managers

Search engine optimization (SEO) and search engine marketing (SEM) specialists

Social media managers

User interface (UI) designers

User experience (UX) designers

Positions In Demand

HEALTHCARE

Coding professionals

Insurance verification/authorization clerks

Medical collections specialists

Receptionists, front desk coordinators and schedulers

Revenue cycle analysts

LEGAL

0.2%

0.2%

3.8%

Compliance analysts

Contract managers

In-house counsel

Litigation support/eDiscovery managers

Midlevel associates

Paralegals/legal assistants

ADMINISTRATIVE & OFFICE SUPPORT

2.7%

3.6%

2.7%

Administrative assistants

Customer service representatives

Executive assistants

HR specialists

Office clerks

Receptionists

Current Population Statistics, conducted by the U.S. Bureau of Labor Statistics, Jan. 4, 2019. Percentages reflect unemployment rates for select positions that are at or below the national unemployment rate for Dec. 2018.

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Controller Supply & Demand

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Senior Account Supply and Demand

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Staff Accountant Supply & Demand

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Internal Audit Supply & Demand

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What’s A Hiring Manager To Do?

▪ Reel in the right talent: Get a clear focus on the hiring process.

▪ Once you get them, keep them: Develop and follow retention strategies that work.

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Companies Are Meeting the Challenge

▪ Salaries are on the rise across the board.

▪ Bonuses are becoming more common.

▪ Work-life balance is a priority.


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Companies Are Meeting the Challenge


▪ Firms are relaxing the job description.

▪ They are open to:

• Hiring less-experienced candidates

• Considering candidates from outside the area

Relax Your Job Descriptions

▪ Let go of the idea of a dream hire. Zero in on essential requirements.

▪ Be open to training someone who’sless experienced but fits your workplace culture.

TIP

#1

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Onboard Carefully

▪ Send HR paperwork in advance.

▪ Set clear expectations for the first day and week.

▪ Have equipment and supplies ready.

▪ Set up a team lunch.

▪ Check in regularly.

TIP

#2

Temporary And Project Help Can Fill The Gaps

▪ Use contingent workers to:

• Help ease staff burdens

• Tackle one-off projects

• Evaluate for potential full-time roles

TIP

#3

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▪ Don’t make job seekers wait too long.

• Have internal approvals in place.

• Avoid postponing interviews.

• Stay in regular contact with candidates.

Speed Up The Hiring Process

TIP

#4

What Matters To Job Seekers?

Source: Employers and Workers Not in Sync on Popular Office Perks, Robert Half, Oct. 25, 2018. (Top responses shown)

EMPLOYERS OUT OF TOUCH WITH EMPLOYEE WANTS AND NEEDS

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… Are You Offering Enough Paid Time Off?

What new hires want (average):

*Robert Half survey of more than 1,500 workers in North America.**Robert Half survey of more than 600 HR managers in North America.

What most

companies provide

(average):

14 paid days off*

10 paid days off**

Retention Is More Important Than Ever

▪ Companies know they can’t afford to lose a top performer

▪ To keep them on board, firms are:

• Benchmarking salaries

• Investing in career development

• Enhancing work-life balance offerings


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Are Your Top Performers Looking For A New Job?

78% of employees: It’s OK

to look for a job while employed.*

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*Majority of Workers Comfortable Looking for New Job While Employed, Accountemps, Nov. 5, 2018.

64% search for a job

while at work.*

Why People Leave: Money Talks

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46% of

workers*

*Are You Underpaid?, Robert Half, Aug. 28, 2018.**44 Percent of Workers Would Quit Their Job for a Bigger Paycheck, OfficeTeam, July 9, 2018.

“I’munderpaid!”

44% of

workers**

“I’d quit for abigger paycheck!”

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Why People Leave: Commuting

Cities with the worst commutes:

▪ Seattle

▪ Denver

▪ Austin

▪ San Francisco

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23% of workers have quit

because of their commute.

60% say their companies aren’t

doing anything about it.

Source: Nearly One-Quarter of Workers Have Left a Job Due to a Bad Commute, Robert Half, Sept. 24, 2018.

Retention Strategies

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▪ Gauge workplace happiness.

▪ Accommodate work-life balance.

▪ Provide opportunities for growth.

▪ Offer a mentorship program.

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Technology Continues to

Transform the Workplace

Technology Is Coming Home

▪ IT alone no longer drives technology considerations.

▪ Now, finance teams are involved in all tech decisions and implementation.

▪ Firms seek accounting and finance professionals with technology expertise.

© 2018 Robert Half International Inc. An Equal Opportunity Employer M/F/Disability/Veterans.34

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Digital Transformation Drives Hiring


17% 59% 9% 3% 12%

DIGITAL TRANSFORMATION’S EFFECT ON HIRING

Not Sureof companies

are expanding staff levels

of companies

are maintaining staff levels

of companies

are freezing staff levels

of companies

are reducing staff levels

The Most In-Demand Tech Skills


• Excel

• QuickBooks (for small and midsize

businesses)

• Real estate software (MRI, Yardi)

• Robotic process automation

• Artificial intelligence

• Cloud-based systems (NetSuite,

Workday)

• Construction project management

software (Timberline)

• Enterprise resource planning

systems (SAP, Oracle, Microsoft

Dynamics GP)

HOT TECH SKILLS

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The future of work:

Adapting to technological change


All registered trademarks are the property of their respective owners.© 2018 Robert Half International Inc. An Equal Opportunity Employer M/F/Disability/Veterans.38

Job Seekers’ Expectations

Are Changing

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Positive Company Culture Is Crucial

▪ Firms are:

• Making efforts to enhance the workplace environment

• Using it as a selling point in the hiring process

▪ Millennials and Gen Z professionals look for:

• Telecommuting

• Free meals

• Relaxed dress code


CULTURE

MATTERS

Speed to Hire Can Be the Deciding Factor

▪ Job seekers won’t wait long for a

hiring decision.

▪ Companies must move quickly to

land the top candidates.


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Your all-in-one source for

salary and hiring

information

2019 Accounting and Finance Salary Guide


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What Is Organizational Culture?

Organizational culture, also known as corporate culture and workplace culture, is

hard to define.

Answering this question can help:

Why do people want towork for our company?

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Corporate Culture: Why Does It Matter?

An unattractive corporate culture can impact a company’s ability to recruit and retain the skilled employees it needs to thrive.

Reports of an unattractive corporate culture can spread fast through multiple channels —and persist — and make job candidates reluctant or unwilling to work for the organization.

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Employers and Workers Focused on ‘Fit’

▪Businesses recognizing that employees who thrive in their workplace environment are more productive and loyal.

▪Workers consider it very important, personally, that their values and preferences align with those of their employer.

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Lack of Fit Could Deter Potential Hires

Would you accept a job if the role was a perfect fit, but the corporate

culture wasn’t?

No: 35 percent of U.S. respondents

No: 40 percent of Canadian respondents

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Source: Robert Half survey of more than 1,000 U.S. workers and over 500 workers in Canada, across a variety of professional fields, 2018

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Corporate Culture a Top Consideration

Top factor when considering a job offer, aside from salary:

United States Canada

1. Vacation time 1. Vacation time

2. Corporate culture 2. Career advancement

3. Career advancement 3. Corporate culture

4. Work-from-home options 4. Professional development

5. Professional development 5. Work-from-home options

Source: Robert Half survey of more than 1,000 U.S. workers and over 500 workers in Canada, across a variety of professional fields, 2018

Tips for Promoting Corporate Culture in Your Hiring Process

1. Company websites

2. Social media and review sites

3. Job descriptions

4. Job interviews and networking events

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Red Flags That Signal an Unattractive Corporate Culture

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▪ Low morale and lack of productivity

▪ Lack of knowledge sharing among employees

▪ Employees executing projects without a clear vision or direction

▪ Employees focusing on blame rather than fixing problems

▪ Employees feeling uncertain about how they make a difference

8 Signs of a Talent-Sticky Workplace

People wantto work for you

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#1

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Your workers know how they add value

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#2


Morale and productivity are running high

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#3

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Everyone feels safe toexpress their opinion

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#4


Bad ideas do not exist,only better ones do

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#5

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People treat eachother with respect

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#6


You have alearning culture

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#7

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You are winningat retention

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#8

Set the Example

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Everyone in an organization has a role to play in shaping and monitoring corporate culture, but leaders set the example for

everyone else.

They are also the ones who can drive change and improvement in the corporate

culture.

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Q&A

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Documents

About Me - San Antonio Chapter CPA Society...(average): 14 paid days off* 10 paid days off** Retention Is More Important Than Ever Companies know they can’t afford to lose a top