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Talent Crunch for Accountants Is Global


Oct. 12, 2007 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.



Fifty-six percent of the 5,000 finance and human resources managers surveyed reported difficulty finding skilled job candidates, and 43 percent 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 percent) and Hong Kong (82 percent) reported finding skilled financial professionals was a challenge.

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.

He said 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 the United States reported the greatest difficulty hiring for executive positions. In response, companies are moving quickly to secure these candidates: U.S. respondents said their firms are taking six weeks to hire for management positions, two weeks less than the global average.

2007 SmartPros Ltd. All rights reserved.

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