Hiring Outlook Both Promising and Challenging For Accounting and Finance Industry
Lucas Group, a respected leader in professional recruiting, today announced results from its annual accounting and finance hiring manager survey, which reflect positive hiring projections for the next 12 months. Lucas Group is one of the nation’s largest executive search firms.
Atlanta, GA (PRWEB) June 14, 2005 -— Lucas Group, a respected leader in
professional recruiting, today announced results from its annual accounting and
finance hiring manager survey, which reflect positive hiring projections for the
next 12 months. Lucas Group is one of the nation’s largest executive search
firms.
The search firm predicts strong employment and business growth
trends for the next 12 months. According to the survey, hiring needs are
attributed to both company growth and attrition. More than 47 percent of
participants feel company growth will increase this year, a significant increase
from last year’s 36 percent.
“Growth in hiring is attributable to a
growing economy and an increase in positions needed to meet Sarbanes Oxley
compliance,” said CPA and Managing Partner Bill Kuchar for Lucas Group’s Houston
Accounting and Finance division. “Our placements for accounting and finance
professionals have substantially increased from last year, and we expect the
increase to continue.”
Nearly 50 percent of industries that predict the
strongest growth in accounting and finance employment opportunities include
banking/finance, consulting, distribution, healthcare and high tech software
companies. Additionally, 100 percent of high tech software companies expect
company growth, which aligns with the U.S. Bureau of Labor Statistics (BLS)
report that show software publishers as a leading industry with one of the
fastest wage and salary employment growth from 2002-2012.
The BLS also
reports financial activities employment reached an all-time high in 2004. With
more than 67 percent of hiring managers planning to hire during the next year,
accounting and finance professionals can expect ample employment opportunities.
The outlook is promising, but the industry also faces its challenges. Of
the participating hiring managers, 77 percent feel their workload has increased
in the last year, and 72 percent feel their staff is working harder. These
results reflect nationwide surveys that show 60 to 70 percent of employees are
planning to seek alternate employment. Coupled with the need for additional
resources to cover anticipated growth and Sarbanes-Oxley requirements, the next
year will pose challenges for employers looking to attract and retain talent.
“The new accounting legislation has compelled companies to pull their
audit function inside,” said General Manager Andrea Jennings for Lucas Group’s
Accounting and Finance division. “Companies are also seeking candidates to
strengthen their S.E.C. departments and fill technical accounting positions. Our
division has seen a 96 percent increase in revenue in the past year, which means
more positions are opening and creating a greater demand for qualified
candidates.”
“We are finding the primary challenge in accounting and
finance hiring stems from this increase in demand,” Kuchar said. “There have
been fewer new graduates for the last several years, and the baby boomers are
beginning to retire, which leaves a void to be filled. The opportunity for
accounting and finance professionals is vast, as companies are expanding their
departments and seeking more talent.”
The survey represents a broad cross
section of industries, including banking/finance, consulting, distribution,
healthcare, high tech software, manufacturing, real estate and more. Overall
company revenue varied; however, nearly 57 percent of participating companies
collect more than $1 billion in revenue.
About Lucas Group:
Lucas
Group, a respected leader in professional recruiting, is one of the nation’s
largest non-franchised, executive recruitment firms. Lucas Group has built a
reputation for successfully providing human capital placements in multiple
markets and industries. In a partnership with The Wall Street Journal and
CareerJournal.com, the search firm has grown and increased its reach, while
maintaining a commitment to high performance and unsurpassed industry knowledge.
Lucas Group focuses on recruiting top executives in management,
advertising/marketing, sales, accounting, manufacturing, legal, military
personnel transitioning and technical positions across all major industries.
With offices nationwide and its expansion into Europe, Lucas Group performs
search assignments for Fortune 100+ companies, as well as regional businesses
and entrepreneurial firms.
This press release was distributed through
eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf
of the company listed above.
Contact:
Alicia
Wasson
404-239-5620
e-mail protected from spam bots
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Source : http://www.prweb.com/releases/2005/6/prweb250752.htm