What’s in Store for 2016? Next Year’s Hiring and Salary Trends Revealed

November 2, 2015


2015 has tried the patience of finance and accounting managers looking to hire highly skilled employees, and 2016 is not likely to be much different. To succeed in recruiting and landing top talent, employers need to know what to expect so they can be competitive with incentives and compensation.


The latest resource for finance and accounting hiring trends is hot off the presses. Here is a peek at what’s inside the 2016 Robert Half Salary Guide for Accounting & Finance:


Business is booming. Many companies are expanding and launching new initiatives to generate revenue, resulting in a need for skilled accountants and business analysts. The current regulatory climate with its increasingly complex mandates is also driving up demand for finance professionals with experience in financial compliance and healthcare.


Good talent is hard to find. Open finance positions outnumber candidates with the necessary skills. As a result, top applicants often have multiple offers on the table, prompting organizations to accelerate the hiring process to increase the chances of landing their top picks.


Good talent is hard to keep. Experienced finance professionals are aware that the market is in their favor. They are confident about exploring other options and do not hesitate to head elsewhere for better pay and shinier job titles. Employers often make counteroffers in an attempt to retain key players, although this retention strategy is usually ineffective and often backfires.


Some positions will be harder to fill than others. Though demand for most finance and accounting employees will continue, the 2016 Salary Guide indicates the following professionals will be especially sought after:

·      Accounting managers

·      Business, business systems and financial analysts

·      Compliance officers

·      Information technology auditors

·      Internal auditors

·      Payroll professionals

·      Senior and staff accountants


Starting salaries continue to climb. From entry-level accountants to senior internal auditors, healthy salary increases are likely in 2016. Each of the more than 400 positions listed in the 2016 Salary Guide is expected to see base compensation rise by 4.0 to 5.3 percent. In response, some employers aren’t just matching the starting salaries offered by the competition; they’re exceeding them to attract the best candidates. Use our Salary Calculator to customize the going salary ranges for your city.


Companies are offering perkier perks. Besides boosting starting salaries, many firms and financial institutions are offering sign-on bonuses, merit-based raises and more. They are also enhancing nonwage perks, such as telecommuting options, extra vacation days, relocation assistance, flexible scheduling and tuition reimbursement.


Contract workers can cover staffing gaps. Organizations continue to rely on skilled contract workers to maintain productivity while searching for full-time hires. Many finance managers appreciate this flexibility, as well as the opportunity to evaluate potential candidates in real time on a contract-to-hire basis.


The latest hiring trends are clear: Despite wobbles in the global economy, the search for talented finance and accounting employees remains steady and competitive. Consult the 2016 Salary Guide to see what’s in store for the coming year, and position yourself to meet and exceed potential recruitment and retention challenges.


This article is provided courtesy of Robert Half Management Resources. The company has more than 150 locations worldwide and offers online job search services at www.roberthalfmr.com. Follow their blog at blog.roberthalfmr.com.