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Report: Finance and accounting employee confidence drops

Finance and accounting employee confidence fell in the second quarter after reaching a near seven-year high in the first quarter, according to The Randstad Professionals’ Finance Accounting Employee Confidence Index.

The index dropped to 58 in the second quarter down 6.3 points from the first quarter. Despite the overall decline in employee confidence among professionals in this sector, the index remained above 50, which indicates a positive reading.

Atlanta-based Randstad US said despite lower confidence levels among many of the index measurements, the finance and accounting sector remains one of the most promising and in-demand professions in the labor market. The Bureau of Labor Statistics indicates between 2012 and 2022 nearly 167,000 more accounting jobs will be created, representing a 13 percent growth rate.

The online survey found 36 percent of finance and accounting workers believe more jobs are available this quarter.

Additionally, 55 percent of finance and accounting workers feel confident in the future of their current employer, down 16 percentage points from the first quarter. This may be fueling the significant increase in the number of finance and accounting employees likely to look for a new job in the next 12 months, jumping from 24 percent to 39 percent in the second quarter, the company reported.

Rebecca Callahan, group president of Randstad’s Professional Solutions, said advances in technology are demanding new skills and competencies from CFOs and their staff.

“The influence of big data has required expertise and tools to support data modeling and analysis, and the ability to extract data to aid business intelligence,” Callahan said in a statement. “At the present time, there is a skills gap in the finance and accounting field, largely due to a lag in updated university curriculums that prepare these professionals to also be business strategists. Candidates that possess these skills are the most sought-after talent among our clients.”

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