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Accounting and Finance Face Global Talent Crunch

Employers worldwide are continuing to feel the effects of a shortage of accounting and finance professionals, according to the recently released Robert Half International Global Financial Employment Monitor. In fact, 56% of the finance and Human Resource (HR) managers surveyed report having difficulty finding skilled job candidates. Another 43% express concern about losing top performers to other job opportunities. The shortage is most prevalent in Asia, where four-out-of-five respondents from both Japan (83%) and Hong Kong (82%) cite difficulties finding skilled financial professionals. The international study developed by Robert Half International, a staffing services firm specializing in accounting and finance, also focuses on how much time and effort is spent on interviewing and hiring. Currently, companies around the globe are spending an average of five weeks to fill staff-level accounting and finance positions and eight weeks for management roles. When asked to identify the most sought-after attribute for executives, respondents in nearly every country say experience in compliance was needed most. This underscores the increased international emphasis on corporate governance. Managers in the U.S. report the greatest difficulty hiring for executive positions. In response, companies are moving quickly to secure these candidates: U.S. respondents say their firms are taking six weeks to hire for management positions, two weeks less than the global average.