Survey: 2009 Job Opportunities Limited for New Grads
A recent survey conducted by Kforce Finance & Accounting Staffing reveals that fewer than 16 percent of industry executives expect to hire new accounting graduates in the remainder of 2009. Those who are planning to hire are doing so conservatively, with 80 percent indicating plans to add just one new graduate.
The survey, conducted May 1-23, was designed to determine if and how businesses will hire recent accounting graduates in 2009 and 2010. Respondents included CFOs (40.6 percent), managers (37.5 percent), directors (18.8 percent) and other professionals (3.1 percent) from various industries.
Of the respondents planning to hire one new graduate, 75 percent were adding to their current staff and 25 percent were filling a vacated position. When asked which area the entry-level employee would be working in, an even split was seen between process accounting, operation accounting, financial reporting and staffing for special projects or initiatives (25 percent each). To find their new hire, most indicated they would use employee referrals and job boards, followed by staffing agencies, social media and on-campus recruiting.
While the vast majority (80 percent) of the 16 percent with plans to hire in 2009 were adding just one new graduate, the remaining 20 percent were looking to add between two and five individuals to fill positions vacated due to promotions, resignations or terminations. Most were hiring for positions in financial reporting and operational accounting, with employee referrals, on-campus recruiting and internships identified as the preferred recruitment methods.
Surprisingly, of the nearly 85 percent of respondents who are not planning to hire in 2009, the majority (51.9 percent) said their decision was not based on the current state of the economy. Nor were they planning a change in 2010. Fewer than 4 percent planned to hire next year, and nearly 41 percent said it would depend upon the economy.
When asked if they would hire a new graduate in 2010 to fill a vacated position, 24.2 percent indicated that they would not. The remaining respondents said that they would fill vacated spots due to turnover (51.5 percent), promotion (33.3 percent) or retirement (24.2 percent).
Also in This Month's Issue:
Industry Watchers Expect Uptick in M&A Activities
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