As we look to the upcoming year, we remain optimistic about Southern California’s accounting and finance talent market. Despite concern over a potential economic slowdown, the possibility for a recession, and other economic variables, our firsthand experience in the local talent market leaves us feeling positive. After downloading and reading through our Financial Salary Guide and Employment Outlook 2020, contact Alliance Resource Group to implement what you learned. As a leading Accounting and Finance Recruitment Agency, we have the network and resources needed to move your career forward.
Accounting and Finance Market Will Stay Strong
Even with the economic uncertainty, the market for accounting and finance professionals in Southern California will be strong. In fact, Vistage Worldwide recently conducted a survey of CEO confidence that showed 56% of respondents plan to expand their workforce in the coming year. For example, as tax laws continue to grow in complexity, new regulations to reduce risk in traditional banking opens roles for private-equity firms. As money management becomes more complicated, the demand for experts in corporate finance, tax accounting, investments, and personal financial planning increases.
Since accounting and finance candidates know they’re in a demand, they expect more from their current or future employers. Our 2020 Salary Guide helps candidates and employers understand the talent landscape and salary expectations to find the right jobs or talent and maintain them long-term.
Unemployment Levels Will Remain Low
Southern California’s unemployment levels should stay historically low. This will bring more balance to the local accounting and finance talent market in 2020. Despite the fact that low unemployment and strong consumer spending often lead to a recession, the good news is that accounting and finance professionals typically remain secure in their jobs. As stated by Andrew Chamberlain, chief economist at Glassdoor, industries, and occupations that historically have been less correlated to business cycle changes include accounting and finance. Because specialized training and licensing typically is required, these positions often are difficult to fill. For example, accountants are needed in any economic climate, especially during tax season. Auditors especially are protected, since publicly traded companies are required by law to be audited.
Top Talent Will Be in Demand
Hiring and retaining the best accounting and finance talent will be difficult in 2020. As a result, leading professionals expect competitive salary and benefits, work-life balance, opportunities for community involvement, flex time and/or remote work options. Fair pay, a safe work environment, equitable treatment, a healthy culture, and a positive company reputation are among the top qualities that attract and keep the best accounting and finance, professionals. A clear career path with opportunities for professional development is necessary. Effective bosses who provide the necessary support for their team are required.
Download Our 2020 Financial Salary Guide
Find out what accounting and finance professionals can expect in the coming year by downloading our Financial Salary Guide and Employment Outlook for 2020. Then get in touch with Alliance Resource Group to begin finding your next accounting or finance role.