According to a recent study by Robert Half International, there is a worldwide shortage of skilled accountancy and finance professionals.
More than two-thirds of respondents surveyed for the fifth annual Robert Half Global Financial Employment Monitor said they had experienced employee recruitment difficulty within the sector. In the United States, 43 percent of respondents said recruitment was either somewhat or very challenging.
Moreover, 56 percent of global financial leaders reported being at least somewhat concerned about workforce retention over the next year – a rise of 11 percent compared to last year's survey results.
"Many firms are concerned about their ability to build and retain the accounting and finance teams they need to support the demands of the business," said Max Messmer, CEO of Robert Half International. "Finding skilled professionals has become increasingly challenging."
Accountancy and finance professionals perform a number of functions for a company, including conducting accounts receivable and accounts payable audits, overseeing internal recovery audits, and balancing the company's books. A lack of employees with accounting and finance expertise may result in less skilled workers having to take over some duties, which could result in sub-standard results.