A LOOK AHEAD AT TOP HIRING TRENDS FOR 2015
By Brian Antenbring, President
If you’re thinking of hiring in the next few months, it pays to know what’s in demand. In a knowledge economy driven by business intelligence, those with the skills will have no problem paying their bills. Companies need to pay to play if they want to retain top talent.
HIRING ENVIRONMENT IN NORTH AMERICA
Employers who have been paying attention to the overall economy in North America over the last few years, characterized by a glacial rebound and sluggish growth, may have the wrong idea about their leverage. In the areas of IT, Accounting and Finance especially, overall packages of salaries and benefits remain higher than in other sectors. Mid-to-top tier executives are not afraid to jump ship and climb aboard with a competing firm.
HOW TO DRAW IN TALENT & KEEP THE EMPLOYEES YOU HAVE
Offering competitive salaries is an obvious way to lure in capable employees – but creative compensation packages that go beyond the allure of cash to offer employees a more comfortable work-life balance are needed to instill loyalty and avoid putting out a pricey counter-offer to keep ‘essential’ staff. Signing bonuses and other incentives are common for acquiring specialists in hot areas like regulatory compliance. Offering telecommuting and extra vacation time can be the difference between a great hire and no hire.
A SPECIAL NEED FOR SPECIALIZED SKILLS
Consumer market trends, technological innovation and increasing regulation (especially in the financial sector) mean that adaptability and a generic skill set won’t cut it anymore – at least for those who are getting hired and paid at the top of their range.
For IT, mobile development, security compliance and big data are the buzzwords around in-demand skill sets. Mobile collaboration and apps are hugely important for business and modern living; protecting business and customer data is mission-critical and the skills required to pull it off are increasingly sophisticated; meanwhile, IT employees need to not just be able to harvest and collate big data, but use it to create actionable strategies to give their companies the edge.
In Accounting and Finance, that ability to offer strategic insight is also valued more than ever. It’s not enough to be able to put together an accurate balance sheet; CFOs, Treasurers and Accounting Managers are increasingly seen as strategic leaders who can control costs and boost productivity internally while also keeping an eye out for M&A opportunities. Those who can best tell stories with the data through sophisticated Excel models while offering actionable recommendations from business intelligence are poised to succeed – and are the top targets of savvy companies and recruiters.
In IT, it’s hard to overstate the growth of opportunities in a wide range of sectors, especially for Mobile applications developers, Software developers and Business intelligence analysts. In the Accounting and Financial areas, growing M&A activity have helped spur hiring in investment banking, as well as the commercial and regional banking area. Public accounting firms presently suffer from a shortfall of skilled staff, giving leverage to qualified recruits. Regulatory changes in health care in the USA are also spurring many companies to look for financial experts who can deal with complex new rules while helping to maintain the company’s bottom line.
In any environment, talent finds a home where it is needed; top talent is actively sought by firms looking for that critical edge over the competition. In our knowledge-based economy, those with the right combination of skills will prosper in 2015.
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