What Employers Seek
Positions in Demand
Long-Term Implications of the Recession
Public Accounting Outlook
Banking and Financial Services Trends
Regional Trends

A tight focus on cost control continues to shape the hiring landscape in accounting and finance. Given the uncertainty about when business conditions will improve and to what degree, companies remain cautious about adding staff. At the same time, firms recognize that carefully chosen accounting and finance professionals are critical to their efforts to navigate the current economic climate.

Organizations need professionals who can develop and implement financial strategies in sync with today's market conditions. In particular, this entails the ability to identify cost-savings opportunities, adapt to a changing business environment and pursue a path to greater profitability. Prudent yet forward-looking companies are judiciously adding staff when they identify a specific need and addressing workload fluctuations with flexible staffing strategies.

Following are key trends affecting the employment environment:

• Targeted searches: While many firms are taking a wait-and-see approach to hiring, others are finding they can no longer hold off filling essential financial positions. Organizations are taking a deliberate approach when adding new staff. They are looking for individuals who meet all of their hiring requirements and are willing to invest more time in the interview process to find just the right person.
• Talent upgrades: Some companies are taking advantage of the larger pool of experienced candidates available and hiring to bring in a broader array of skill sets and expertise. This strategy leaves them better positioned for a time when business conditions improve.
• Lingering competition: Skills shortages persist in some specialties. Even in the midst of the economic downturn, roughly one-half of Canadian finance and human resources managers surveyed for the Robert Half Global Financial Employment Monitor reported difficulty finding skilled accounting and finance applicants.
• Salary slowdown: Budget limitations have forced managers to moderate job offers. Growth in base compensation for many accounting and finance positions is relatively flat, according to the 2010 Salary Guide from Robert Half.
• Use of project professionals: Companies uncertain about making full-time hires often are bringing in financial talent on a temporary or consulting basis as they evaluate the business climate. This allows them to keep up with business demands and avoid laying off core employees should their needs change.