Ask The Expert

We asked veteran search professional Derek Hugdahl for some insight into hiring trends in today’s job market.

During your career in corporate recruiting, what are some of the most significant shifts you’ve seen in the finance and accounting market?

                Looking back over the course of the last twenty years, I can think of four major shifts.

1.       Finance and accounting has become heavily integrated into company operations and strategy. Accounting is no longer just a back-office function.

2.       The technology shift has been very significant. Systems and accounting & finance now work hand-in-hand to streamline business operations.

3.       Stringent government regulations, i.e. SOX and Dodd-Frank, had considerable influence on publicly traded companies. We have also seen that impact companies serving those organizations, such as public accounting firms.

4.       There has been a real shift in the type of companies desired by candidates.

Let’s talk about the fourth point. What kind of companies are of most interest to candidates today?

·         Ten to 15 years ago most high-level candidates wanted companies in a pre-IPO state, positioned to go public. It was an exciting time for the companies, and key contributors had options for stock. That incentive played a significant role in attracting top talent. Although this still plays a part, top talent often is looking for a true equity stake in the company, gravitating toward private equity backed companies for several attractive reasons:

o   Less regulations

o   The company and the employees are able to react quickly to changes

o   There is an emphasis on growth

o   Strong financial backing

o   Often a bigger short-term payout

·         Ten to 15 years ago companies were primarily privately held or publicly traded. Today, we see a significant increase in companies which are P.E. backed. There is certainly less long-term stability, but better opportunities for a higher potential upside.

Derek Hugdahl has twenty years of contingent and retained search experience in the senior-level accounting and finance space. Connect with Derek on LinkedIn.

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