It was a job seeker’s market last year. That could be the case in 2017.
If the early numbers are any indicator, 2017 could be another healthy year for the job seeker. Data from the Bureau of Labor Statistics confirms that there are still more job openings than hires being made. The discrepancy is a result of fierce competition over top talent and difference-makers. And when you consider a quit rate of 3.1 million – still the highest it’s been since 2007 – the outlook seems bright for the candidate this year, too.
Having more job openings than hires speaks to an inability to keep up with workforce demands. It’s hard attributing that to a lack of qualified candidates, at least when employees are so willing to quit. A high quit rate is usually a healthy sign for the job seeker. It signals that employees aren’t feeling handcuffed to their situation and they’re aware of other opportunity.
That grants leverage to employees, especially to those in the finance and accounting field where surprisingly fewer people are quitting their jobs compared to other sectors. That’s another reason it’s challenging finding highly qualified candidates in this field, and another reason so many finance and accounting jobs are lingering online.
But finance and accounting professionals are needed in bulk as companies scale in size. The pressures on back office functions mounts during periods of rapid growth and many local companies are experiencing this first-hand. So while you may not be inclined to leave your position now or anytime soon, the chance that your dream job opens, in this job seeker’s market, is pretty good.
Great news for the passive finance and accounting employee
All of this considered, the time is ripe to make a move because there’s an abundance of opportunity. But even if you don’t want to move, the situation’s not likely to change anytime soon. You should take advantage of it.
Partnering with a finance and accounting recruiter now ensures you stay abreast of all the relevant opportunity that’s out there. In a market like this, your dream job is likely to open. Make sure you know about it when it does, and take full advantage of this job seeker’s market.
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