Hiring for a New Accounting Position? You’re Not Alone|
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At a glance:
- Rapid growth ahead: The U.S. Bureau of Labor Statistics anticipates nearly 500,000 new finance and accounting positions will be added by 2029 – that’s a projected growth of 5%.
- Hiring competition will be fierce: General economic growth combined with a recent fintech revolution is creating more demand than ever for experienced finance professionals, leaving businesses from all industries racing to secure the best talent.
- Next steps: Companies anticipating a need to expand their back-office team in the next few years should anticipate the hiring challenges from this industry-wide growth trend and get creating with their hiring strategies.
Minimize your hiring headaches and let Aprio Talent Solutions do the work. Contact us today to start finding the best possible finance and accounting candidates for your growing company.
The full story:
Continued growth is on the horizon in the financial and accounting industry. The U.S. Bureau of Labor Statistics projects jobs in the industry will grow by 5% overall by 2029, but some occupations, such as controllers, financial managers, and accounting managers, are projected to grow by more than 15% in the same timeframe.
These more rapidly growing professions within the industry signal hiring hypergrowth for accounting and finance professionals across all types of businesses, not just finance and accounting firms. Companies seeking to expand their back-office teams could face new hurdles in the future as hiring competition surges, requiring some businesses to explore more creative hiring options.
What’s driving the industry growth?
While a growing economy and a complex regulatory environment are major contributors to this trend, recent evolutions in financial technology, or fintech, will drive an even more competitive race to hire new talent.
Fintech experienced pronounced growth during the pandemic as more consumers than ever before explored technology-driven payment options, like contactless payments and e-commerce technologies. This new reliance on fintech has energized many businesses across a wide variety of industries to expand and modernize their approach to financial operations, often coinciding with hiring new, experienced professionals to reach those goals.
As the fintech revolution, among other economic changes, continues to drive growth and create more opportunities for finance and accounting professionals, it also creates new competition among companies to fill those multiplying positions.
Some of the fastest-growing finance and accounting jobs will include:
- Financial Managers
- Management Consultants
- Accounting Managers
- Credit Analysts
Will the expected growth make hiring more difficult?
The U.S. Bureau of Labor Statistics predicted in its Occupational Outlook Handbook that business and financial occupations will add nearly 500,000 new jobs by 2029. Businesses considering expanding their finance or accounting team in the next few years should prepare for an unusually competitive hiring field. Typically, hiring in this environment could lead to more challenges, such as longer interview processes, fewer experienced hires, more intensive onboarding processes, and potentially even higher turnover with new hires. Some companies may choose to work with recruiters to overcome these challenges, but that process can bring its own difficulties, particularly when it comes to vetting new candidates.
However, there is an alternative solution available. Aprio Talent Solutions provides a suite of recruiting services for a different, better solution to hiring. As a CPA-led business advisory firm, we have the relationships to find the best candidates and the resources to vet those candidates using certified accounting professionals.
Our deep network, data intelligence, integrated technology, and industry expertise mean we will deliver the best candidates tailored to your company’s needs.
The bottom line
Put down the giant stack of resumes and contact Mitch Nelson, Executive Vice President of Aprio Talent Solutions. No matter your hiring needs, Aprio Talent Solutions can create a custom hiring model that uses our relationship-recruiting and Aprio-vetted methods to help you achieve transformative growth without the recruiting headaches.