2022 hiring for Finance: Outlook for companies so far

If you’re looking for a few good Finance pros to beef up your ranks, you aren’t alone. Nearly two-thirds of businesses plan to add new positions to their rosters in the first half of 2022 – and hiring Finance staffers is a top priority.

This data comes from Robert Half, which surveyed over 2,300 senior managers in the U.S to find out how their companies planned to recruit new talent this year.

Along with adding new permanent positions (which 65% of managers plan to do), another 33% expect to fill vacant positions during the first half of the year.

Because the Great Resignation is still in full swing, the job market is competitive. So your peers are trying new tactics to attract top prospects, including:

• Increasing starting salaries (55%)
• Offering remote work and evaluating candidates in different locations (50%)
• Providing new hires with signing bonuses (44%)
• Offering more paid time off to new employees (41%), and
• Changing job requirements – i.e., loosening education, experience and skills requirements (31%).

Finance pros in demand

Finance needs are critical: 65% of those surveyed said they planned to fill new Finance positions ASAP. And while Finance jobs typically weren’t remote before the pandemic, the nature of work has now changed. So you may have to broaden your search for a teleworking Payroll, A/P or A/R pro.

There are several benefits to hiring remote workers. Companies surveyed in Robert Half’s State of U.S. Hiring survey said remote hiring gave them:

• More applications from skilled candidates (54%)
• Greater compensation flexibility (45%), and
• A quicker hiring process (34%).

But there can also be challenges when you’re interviewing Finance candidates remotely.

Managers said their top three difficulties when hiring teleworkers were adequately assessing job-seekers’ skills via remote interviews, creating fair compensation packages for out-of-state or out-of-city candidates and scheduling remote interviews from different time zones.

And the challenges don’t stop once you’ve hired a remote worker. The top challenges your peers had with the onboarding process for remote employees were building engagement and connection, providing them with training and support, and having adequate equipment and technology.

Next steps

You’ll have to assess whether the benefits of casting a wider net for candidates outweigh the drawbacks for your Finance team. However, in a world where hiring is extremely competitive and employees have more choices than ever, you may benefit from expanding your hiring horizons.

Before bringing on remote workers, it’s a good idea to address any challenges you may face head-on. Work with IT to make sure your tech is up to snuff, and huddle with HR to discuss your capabilities for remote training and team-building events to keep morale and motivation high.