Survey: Nearly Half of CFOs Cite Challenges in Finding Skilled Financial
TORONTO, Feb. 12, 2013 /CNW/ - The outlook for positions such as financial
analysts and senior accountants is increasingly bright, and talent shortages
are leading to higher salaries for in-demand specialties, new research from
Robert Half International shows. Forty-five per cent of chief financial
officers (CFOs) interviewed for a Robert Half survey said it is at least
somewhat challenging to find skilled financial professionals today.
The survey was developed by Robert Half, the world's first and largest
specialised staffing firm. It was conducted by an independent research firm
and is based on interviews with more than 270 CFOs from a stratified random
sample of Canadian companies with 20 or more employees.
CFOs were asked, "How challenging is it for your company to find skilled
financial professionals today?" Their responses:
Very challenging ..................... 13%
Somewhat challenging ........... 32%
Not challenging .......................... 24%
Don't know/no answer ................ 31%
"Many organisations are seeking financial staff with specialised skills who
can manage fundamental accounting needs, set up their companies for expansion
and ensure they are in compliance with regulatory requirements," said Gena
Griffin, district president of Robert HalfCanada. "However, firms currently
may be facing challenges when trying to hire these highly skilled
professionals. As the unemployment rate for accounting and finance positions
continues to remain below the national average, candidate shortages in certain
Following are key accounting and finance positions experiencing particularly
strong demand, according to the 2013 Salary Guide from Robert Half:
-- Financial analysts: Companies are looking for analysts --
especially those who have designations (such as the CA, CGA,
CMA) or possess a master's degree in business administration.
In January 2013, the unemployment rate for financial analysts
was 3.4 per cent, according to Statistics Canada.
-- Senior accountants: Companies are looking for accountants to
maintain the general ledger, compile financial reports, and
oversee accounts receivable and payable. In addition to
functional expertise, firms seek candidates with excellent
communication and problem-solving abilities.
-- Internal auditors: These professionals help evaluate the
effectiveness of financial and information systems, internal
controls, and management and operational practices. Demand
remains strong for these specialists; the unemployment rate for
accountants and auditors was 3.4 per cent in January 2013.
-- IT auditors: Professionals in this fast-growing specialisation
understand the relationship between IT audit procedures,
business process controls and risks. Salaries for IT auditor
positions at all levels are expected to see above-average
increases in 2013.
-- Compliance officers: Given the evolving regulatory environment,
companies are seeking specialists to oversee compliance
initiatives and report their findings to management. The
profession will see a 3 per cent salary increase in 2013,
according to the Salary Guide.
-- Controllers: Controllers are needed to plan, direct and
coordinate activities such as compiling financial statements,
working with external auditors and overseeing regulatory
reporting. According to the Salary Guide, starting salaries for
controllers at companies with $50 million to $100 million in
sales are expected to rise 3.1 per cent.
"To find top talent in such a competitive landscape, companies are encouraged
to perform targeted searches that include reaching out to their contacts for
referrals, networking with industry associations and working with a
specialised financial recruiter," Griffin added. "Organisations can also start
by developing from within -- ensuring you let your current staff know that
certain opportunities are available to them, and providing the relevant
training and development needed to excel. This is also an effective way to
transition existing staff into these in-demand positions."
About the Survey
The study was developed by Robert Half. It was conducted by an independent
research firm and is based on more than 270 telephone interviews with CFOs
from a random sample of Canadian companies with 20 or more employees. For the
study to be statistically representative and ensure that companies from all
segments are represented, the sample was stratified by industry and number of
employees. The results were then weighted to reflect the proper proportion of
employees within each industry.
About Robert Half International
Founded in 1948, Robert Half International is the world's first and largest
specialised staffing firm. The Menlo Park, Calif.-based company has more than
350 staffing locations worldwide and offers online job search services on its
divisional websites, all of which can be accessed at www.roberthalf.ca. Follow
Robert Half on Twitter at twitter.com/RobertHalf_CAN, and gain insights on the
latest financial hiring and salary trends at www.roberthalf.ca/salarycentre.
Contact: Nadia Santoli (416) 350-2330 firstname.lastname@example.org
SOURCE: Robert Half Canada
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CO: Robert Half Canada
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