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Despite an unusual and challenging hiring market last year, the demand for skilled professionals in the accounting and finance job function is expected to be high in 2024. However, a need for talent does not always indicate seamless hiring. Our recent Talent Trends report shows that 35% of accounting and finance organizations found it difficult to hire over the last twelve months.
Accompanying the rising demand for workers in the field is the expectation that companies uplevel their understanding of the current landscape to make informed hiring decisions, remain competitive, and attract top talent.
What does filling open accounting and finance jobs look like in 2024?
With the decrease in students seeking accounting degrees and more than 300,000 accountants leaving their roles in the last two years, there’s a significant decline in the talent trajectory.
As a result, the need for accountants is high, and there is substantial competition for finance and accounting managers to fill in-demand accounting roles, such as payroll and accounts payable (see extended list below). Moreover, due to the likelihood that more seasoned finance and accounting workers would consider a career change, it’s predicted that these essential roles will continue to be a challenge to recruit, fill, and retain.
Amid economic turbulence and market fluctuations, the U.S. Bureau of Labor Statistics (BLS) reported accountants and auditors in 2023 held strong with a low unemployment rate among bookkeepers, financial analysts, general accounting professionals, and accounting operations. Jobs within the business services industry claimed nearly half of all accounting and finance jobs—an above-average standing in the overall job market.
Based on our observations on trends in the job market during late 2023, we anticipate the following positions will be the most in-demand.
The most in-demand jobs in accounting and finance:
As you prepare to recruit for your open roles, understanding candidates’ wish lists is a must. In our Talent Trends report, nearly half of the respondents in accounting and finance said they’re looking for a new role to develop their skills or earn a higher salary.
But that’s not all. Our research has also revealed that 59% of workers in this field are looking for packages that include better work-life balance and hybrid options, making it worthwhile for organizations to consider implementing where possible.
Learn about more hiring trends in our 2024 Talent Trends report.
In today’s competitive job market, it’s essential that businesses streamline their hiring processes and stay informed of the latest trends to ensure they’re retaining and hiring the best talent before their competitors do.
Filling in-demand roles in a competitive market can be challenging and time-consuming. Partnering with Michael Page recruitment experts who take the time to understand your specific needs can help expedite the process. Learn more about our expertise in recruiting for accounting and finance jobs or request a call back to get in touch with our consultants.
Find out what talent insights our survey of almost 50,000 professionals across 37 markets has uncovered and what it means for employers.
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