Because millennials comprise the majority of the accounting and finance workforce, firms need to adjust their traditional recruiting methods to attract top talent. Catering to what millennials desire when searching for employment will result in greater employee engagement and retention. Additional details are provided in our 2018 Financial Salary Guide & Employment Outlook, which can be downloaded today.
Millennials Working in Accounting and Finance
At Alliance Resource Group, we expect the market for accounting and finance professionals to continue to be strong in 2018. Because we are very close to full employment and Southern California employment appears to be steady, we predict that companies will continue to face challenges when securing the best professionals. Top candidates, many of them millennials, will have multiple options and increased negotiating power. They will aim for greater compensation, work-life balance, and other perks that let them pursue interests outside of work.
What Millennials Look for in an Employer
Millennials value wealth in experiences more than money. Building a nest egg and retiring one day do not rate high on their list of priorities. Millennials are more focused on saving money to pay their bills and travel than on when they can stop working. They also have significant concern for performing work that they are passionate about. Millennials want to feel inspired about their contributions and see how they relate to the overall success of the company; and, they substantially value transparency. Millennials want to have a clear vision for both their future and their employer’s future. They crave goal-setting with their manager and following strong leaders. Plus, millennials desire regular constructive feedback to improve their work performance. In addition, because they value freedom, millennials want flexible schedules, more vacation days and the opportunity to work remotely.
How Firms Can Cater to Millennials
Accounting and finance firms need to modify their traditional operating systems to become more attractive to millennials. For instance, more firms are offering flexible or remote working opportunities to accommodate the need for work-life balance. And, because of increasingly high student debt, many firms are offering student loan assistance or higher salaries. Plus, to accommodate millennials’ passion for their work, many firms provide ongoing professional development.
Download Our 2018 Salary Guide Today
Download Alliance Resource Group’s 2018 Salary Guide today, then contact us for all of your finance and accounting staffing needs in Orange County and LA!