Financial professionals who are looking to make a career move in 2024 are likely to find that the job market will remain candidate driven as firms continue to ramp up efforts to better attract and retain talent.
Competitive pay and more flexible work environments remain top of mind for many of today's professionals. A growing number of firms are heeding the call by driving greater efficiencies and trying to ease workloads through more automation, embracing more flexible work environments, and implementing additional strategies to better attract and retain talent. The really is that the job market remains candidate driven.
For those professionals looking to make a career move in 2024, there are several factors to keep in mind. Let's take a closer look.
Hiring Remains Strong
The good news for job seekers is that hiring within finance, as well accounting, remains strong.
Staffing constraints may not be a new concern; however, many employees are rethinking their priorities and leaving for corporate jobs with more manageable workloads. As a result, firms are increasingly looking for ways to attract and retain talent.
Those professionals who are in very high demand include financial planning and analysis professionals, as well as experts in general accounting and financial reporting, according to talent solutions firms Robert Half.
The need for skilled talent is reflected in the fact that salaries for many positions continue to climb. In fact, according to Robert Half, more than half of employers (
As it relates specifically to
- Financial reporting (48%)
- Financial modeling (42%)
- Management experience (38%)
- Data analytics (36%)
Job seekers want salary transparency and a growing number of employers are listening as the research shows that roughly
Avoid Salary Negotiation Missteps
Many companies may be increasing salaries; however, it is likely that you'll still want to negotiate a salary. Therefore, it is critical to avoid some common missteps that could leave you getting paid less than what you desire.
In fact, nearly half (
- Agreeing to a salary that is too low for their skillsets and professional expertise (61%);
- Focusing too much on the salary versus considering the entire package, including the benefits and perks (30%); and
- Not properly researching current salary ranges (29%)
Remote and Hybrid Work Environments
In today's post-pandemic work environment, the desire for greater flexibility and a better work/life balance remains strong. To better attract and retain talent, a growing number of firms embraced a more flexible work environment, such as allowing staff to work from home at least a couple days per week.
While there has been a notable shift in employers wanting staff to return to the office, studies suggest a hybrid work environment isn't going away anytime soon.
Resume Builder recently surveyed 1,000 company decision makers and found that, among respondents whose companies plan to implement return to office (RTO) in 2024,
To incentive employees to return to the office, 72% of business leaders said the company will offer commuter benefits, 57% will offer childcare benefits, and 64% will provide catered meals, the survey found.
"It's important to note that, when it comes to RTO, one size does not fit all," Stacie Haller, Resume Builder's Chief Career Advisor, was quoted as saying in the report. "The majority of business leaders who plan to RTO in 2024 seem to understand that, in order to retain talent, they can't force unwilling employees back to the office.
"The end of 2024 is still a long way away, and the job market is constantly changing. It remains to be seen if businesses will follow through on their RTO plans, especially when taking into account the recent backlash against major employers who have forced employees back to office," Haller continued.
It should be noted that, among finance and accounting professionals,
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