Friday, May 15, 2009

Fact or Fiction: The need for executive recruiting firms is even more critical in today’s challenging economic environment?

Due to recent layoffs, the quality of people seeking opportunities has increased.
Fiction. When layoffs happen, the lowest performers are often the first to go. Therefore, just because there are more candidates available does not mean there are more qualified candidates available.

The number of A-list candidates remains the same during good and tough economic times.Fact. Employers used to get an average of five candidates to choose from for one position, now they are getting between ten to twelve. However, most of the applicants fall in the C-list category rather than the A-list because firms are doing everything they can to retain their best employees. As a result, A-list candidates are even harder to recruit during tough times.

Candidate misrepresentation is on the rise.
Fact. Desperate people do desperate things. In order to secure employment there has been an increase in misrepresentation from job responsibilities to dates of employment to educational attainment.

Accounting professionals are in high supply in the open job market.
Fiction. The percentage of unemployed accounting professionals is significantly lower than the national rate of 8.9%. Some sources indicate the current unemployment rate is as low as 3.1% for accountants. No matter what the state of the economy is, companies still need people to keep their books. Perhaps more than ever, firms need these professionals to advise on how to cut cost and conduct business during economic downturns. SOX, IFRS, and other regulatory compliance are also expected to increase demand for qualified accountants while the looming retirement of baby boomers and lower turnover among current accountants are expected to create a shortage in supply.

The need for executive recruiting firms is even more critical in today’s challenging economic environment.
Fact. Most managers today are hard pressed to find enough time to get their jobs done to their satisfaction. Your priorities are your core management responsibilities: planning, implementation, reporting, meeting deadlines, budgets, personnel issues and evaluations. This is not the best time to learn the “ins” and “outs” of professional recruiting.

Creative Financial Staffing (CFS) is the nation’s largest, privately-held accounting and financial staffing firm. We provide qualified accounting and finance professionals on a temporary and permanent basis across a broad range of industries.

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