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In recent years, there has been an increased focus on digitization and automation making the demand for financial examiners, financial managers, and management analysts grow exponentially. Accounting and finance job candidates that can demonstrate competency in predictive analytics, accounting automation, data visualization, and accounting software are more likely to command the attention of hiring managers.
With over 60 years of talent acquisition experience, Acara is well-equipped to source and recruit accounting and finance candidates across an array of job disciplines. At Acara, we are committed to implementing innovative people strategies that deliver results and empower the workforce. Through our suite of contingent and direct hire placement services, we help our clients discover premier talent nationwide.
As senior leaders collectively prepare for the start of the new year, developing a well-designed talent approach will be critical in effectively sourcing, recruiting, and retaining these in-demand candidates. By leveraging our 2023 Accounting and Finance Salary Guide, your organization will be well-positioned to attract these qualified professionals with competitive salary rates in 2023 and beyond.
All compensation figures within our enclosed salary guide were generated via Lightcast—a premier labor market data and analytics provider. An array of verified public and government sources underpins Lightcast’s sophisticated software. The tool drives in-depth industry analysis by delivering accurate summaries of the labor and compensation market.
Our team of workforce experts predicts the following developments in 2023:
Expansion of contract labor
Driven by a unique recruitment environment, the Great Resignation, and dramatic labor shifts, organizations are looking toward contingent workers as a way to help fill their talent gap. These proven resources are no longer utilized just to fill in for an absent employee or when a company has a spike in activity. Using contract labor will ultimately prevent businesses from worrying about talent shortages in today’s uncertain climate.
Prevalence of remote and hybrid work models
Our nation has now experienced the benefits associated with remote work. Accounting and finance professionals have widely embraced the trend and it appears to be here to stay. For many candidates, flexible work options are a key differentiator among employers, and organizations that offer them will be more successful than their competitors in attracting and retaining talent.
In the current uncertain and unpredictable times, CFOs and controllers have faced numerous challenges when structuring their budgets for the future. Upper-level finance executives have composed multiple budgeting approaches to brace for the multitude of possibilities that their businesses will face in the upcoming year. They hope this will provide critical flexibility to account for all that lies ahead.
Embracing AI and automation
Financial institutions will focus on digital transformation in 2023 and invest more in technology and innovation. By recognizing and capitalizing on the true value of technology and automation, they will benefit from enhanced efficiency, cost reductions, empowered employees, and more engaging customer experiences.
Increase in data security measures
The average cost of a data breach in the financial industry worldwide was nearly six million U.S. dollars in 2022. Because these institutions have huge stores of highly sensitive and personally identifiable data, they are at an elevated risk of long-term impacts from successful cyber attacks. Employees that work from home also present a significantly higher risk for cybercriminal data access resulting from less secure network connections. Therefore, the need for advanced security protections will remain ever-present in 2023.
Average job growth for financial occupations is 7%. The positions with the highest projected growth in accounting and finance:
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