Category: Management & Leadership

As we head into 2025, the workforce landscape is transforming at an unprecedented pace. Emerging technologies, shifting employee expectations and evolving workplace dynamics are reshaping the way organizations hire and retain talent. To stay ahead, companies must understand and adapt to these critical trends. From mastering AI to addressing the ever-growing demand for flexibility, here are the top five labor trends that will define the upcoming year.

1. Building AI Savvy

Hiring for AI-specific skills alone won’t suffice in 2025 — familiarity with AI’s broad capabilities will be essential across roles. Finance leaders, including CFOs, must understand key concepts like machine learning and natural language processing, as well as their operational applications. This foundational knowledge enables leaders to align AI strategies with business objectives effectively. While over two-thirds of corporate finance teams are in the exploratory phase of AI adoption, according to a survey by Wolters Kluwer, only one-third of HR leaders are evaluating generative AI use cases. Bridging this gap will be a priority.

2. Flexibility Remains a Top Priority

The debate over remote versus in-office work continues. Many companies are gravitating toward hybrid models, offering flexibility to employees while using office spaces as hubs for collaboration and creativity. The Society for Human Resource Management (SHRM) highlights this shift as a defining characteristic of modern workplaces, where the physical office is more about fostering connection than serving as a daily necessity.

3. Utilizing Contractors and Specialists for Projects

Increased reliance on contractors and specialists reflects a broader trend toward project-based and adaptable work arrangements. Businesses are leveraging freelancing platforms and staffing firms to address talent shortages and execute specialized initiatives. This approach not only manages costs but also accelerates project timelines. According to data by TeamStage, more than 50% of the U.S. workforce is expected to engage in the gig economy by 2027.

4. Investing in Skill Development

With the skills gap widening, organizations must make learning and development integral to their growth strategies. On-demand training opportunities are crucial to keeping employees current with technological and societal changes. Companies prioritizing skill development will see enhanced retention, engagement and recruitment outcomes. Notably, 83% of employees recognize ongoing skills training as vital to their job performance, underscoring the demand for continuous learning opportunities (D2L).

5. Wage Wars Between Employers and Job Seekers

Compensation remains a significant driver of job mobility, particularly as living costs rise. Professionals with expertise in strategic HR, automation tools or ERP systems often expect pay that reflects their specialized skill sets. For 2025, salary increases are forecasted to average 3.9%, slightly up from 3.8% in 2024 but below 2023’s 4.4% growth (WTW). To address budget constraints, companies are turning to perks like flexibility and enhanced benefits packages to attract top talent.

Preparing for 2025: Key Takeaways and Next Steps

As hiring trends evolve, staying proactive and adaptable will be crucial for organizations navigating the changing workforce landscape. Whether it’s leveraging AI, fostering flexibility, tapping into the gig economy, investing in skills development or balancing competitive compensation with other perks, employers must prioritize strategies that align with their long-term goals and employee expectations.

Economic changes from inflation to rapid tech adoption are reshaping finance and accounting hiring trends. Businesses are adapting by prioritizing specific skills and roles to navigate today’s challenges, which range from cost control and regulatory compliance to evolving digital tools and global talent access.

Rising Inflation and Cost Control

As inflation impacts businesses, demand is increasing for professionals skilled in budgeting, forecasting and cost management. Financial analysts, controllers and budgeting specialists are in high demand as companies seek to optimize spending and maintain profitability.

Compliance and Risk Management

Economic uncertainty has heightened the need for roles focused on risk management and regulatory compliance. With evolving regulations, companies are looking for financial controllers, auditors and compliance officers who can help manage risks, navigate regulatory landscapes and protect the organization’s interests.

Digital Transformation in Finance

The digital shift is accelerating — requiring finance professionals adept in tech-driven roles, like data analysis and automation.

Roles blending finance expertise with technical skills, such as financial data analysts and technology-driven accountants, are growing in demand as businesses look to increase efficiency and gain deeper insights from data.

Remote Work and Global Talent

The rise in remote work is allowing companies to access a larger, more diverse talent pool. This shift opens opportunities for specialized skills previously harder to find locally, adding a new level of competition for roles that are effective in a remote setting, such as bookkeeping, financial analysis, and project-based finance work.

Focus on ESG Reporting

Environmental, social, and governance (ESG) reporting is another critical area impacting hiring trends. Finance professionals with expertise in ESG and corporate social responsibility reporting are becoming essential for businesses aiming to maintain transparency and meet sustainability goals.

Partnering for Strategic Hiring

To stay ahead of these evolving trends, consider partnering with a staffing agency that specializes in finance and accounting recruitment. Our team offers a strategic edge in sourcing the right talent, using industry insights and optimized recruitment strategies to deliver efficient hiring solutions. We ensure your recruitment efforts align with the latest economic and industry shifts.

In today’s competitive job market, the interview process is more than just a formality; it’s a crucial opportunity to assess not only qualifications but also cultural fit and potential contributions to your organization. The right techniques can transform interviews into strategic discussions that benefit both candidates and employers. Here are four effective approaches to enhance your company’s interview process:

1. Situational Interviewing

This technique involves presenting candidates with hypothetical scenarios that they may encounter in the role. By asking questions like, “How would you approach a conflict with a team member?” you can gauge their problem-solving abilities, critical thinking skills and emotional intelligence. This method provides insight into how they might react under pressure, helping you predict their future performance and better avoid bad hires.

2. Cultural Fit Assessment

Assessing a candidate’s alignment with your organization’s values and culture is crucial for long-term success. Incorporate questions that explore their beliefs about teamwork, communication and feedback, such as, “Describe an ideal team environment for you.” This helps ensure that the candidate will thrive within your organizational culture and contribute positively to the team dynamic.

3. Technical Assessments

For roles that require specific skills, implementing tailored technical assessments is essential. These can range from coding challenges for software engineers to case studies for marketing positions. By observing candidates in action, you can evaluate their expertise and ability to apply their knowledge in practical situations — ensuring they have the skills necessary to succeed.

4. Follow-Up Questions

Don’t be afraid to delve deeper into candidates’ responses with probing follow-up questions. This technique allows you to uncover nuances in their experiences and motivations, leading to a more comprehensive understanding of their suitability for the role. For example, after a candidate shares a success story, ask, “What were the biggest obstacles you faced during that project?” This encourages candidates to reflect on their challenges and demonstrate resilience.

By incorporating these techniques into your interview process, you can significantly enhance your ability to identify candidates who are not only qualified but also a great fit for your organization’s culture and goals.

To further optimize your recruitment efforts, consider partnering with a staffing agency. Their industry insights and expertise can help you navigate the hiring landscape — providing access to a wider talent pool and saving you valuable time and money in the recruitment process.

What traits are common among highly effective managers? What can you do to get the best performance from your team?

New technologies and work models are changing the ever-evolving world of finance and accounting. While there is no single magic formula for management excellence, here are three traits you can adopt to stay ahead in 2024.

1. Build Trust Through Clarity

Highly effective finance and accounting managers understand financial principles, accounting standards and regulatory requirements. However, technical expertise only goes so far without solid communication skills.

The most effective managers can paint a picture of the organization’s financial health and strategy to finance professionals and non-finance stakeholders. In management, solid communication includes:

• Providing regular, transparent updates on financial performance and goals
• Clearly defining roles, tasks and expectations for your team
• Offering constructive, timely feedback to foster continuous improvement

Clarity builds trust, which fosters team cohesion and motivation.

2. Master the Human Side of Leadership

Top managers create a collaborative environment that recognizes team members for their contributions and motivates them to do their best work. When you approach management from a team-building and talent development perspective, you inevitably see opportunities to leverage and develop your most valuable resource — your people.

Mastering the human side of financial leadership includes:

• Regular check-ins to gauge team well-being
• Showing genuine interest in their team members’ professional growth and personal challenges
• Cultivating an environment where people have safe avenues to share their options and ideas
• Recognizing and celebrating individual and team achievements

3. Embrace Technology for Enhanced Management

Highly effective finance and accounting managers embrace technology to enhance their leadership capabilities. While there is a balance between jumping on every new gadget and trend and identifying tools that streamline operations and facilitate workflow, the right technology makes your team more productive and effective.

Here are some ways to embrace technology:

• Use advanced financial software and tools to automate routine tasks like bookkeeping, payroll, and financial reporting
• Use data analytics tools to organize financial data into valuable insights
• Implement collaboration tools that enable seamless communication and teamwork, regardless of location
• Provide access to training resources and encourage a culture of skill development, growth and improvement

Build Your Future-Ready Finance and Accounting Teams

The qualities that define excellent financial leadership continue to evolve, but the core principles remain constant. By mastering clear communication, adopting a talent-development mindset, and embracing technological advancements, you can lead your finance team to new heights of success and satisfaction.

Whether you’re a leader looking to enhance your skills or an organization seeking top financial talent, Century Group is here to help. Our deep understanding of the finance and accounting sectors coupled with our extensive network of professionals uniquely position us to connect you with the leadership talent needed to thrive in this new era.

Contact us today to start building your future-ready teams.

The hiring process can often feel akin to dating. Both sides are evaluating the success of the fit — putting their best foot forward while they do so.

For companies recruiting in 2024, it’s imperative to assess and modify your strategy to attract the caliber of job seekers that align with your business’ values and work standards. Our suggestion? Meet them in the middle and showcase the single area key to all successful relationships: clear communication.

Here are four approaches to improve your hiring process this year.

1. Communicate Often

One of the most common complaints from candidates seeking new opportunities is the lack of communication from the companies they’re applying to. The black box effect. Improving this experience — even simply sending a follow-up email once the position has been filled — can provide transparency on the behalf of the hiring company. When it comes to the interview process, let the candidate know up-front what they can expect: total number of interviews, who will they be meeting, etc. Strong businesses go as far as sharing feedback with final candidates to help them in their job search moving forward as a show of good faith.

2. Evaluate Job Requirements

In tight labor markets, the most sought-after candidates are in short supply and high demand. Enterprising companies, however, understand the value of evaluating the role’s must-have requirements to engage skilled and overlooked professionals who can perform the job just as well. In fact, in a recent survey by Intelligent.com, 33% of business leaders have eliminated the requirement for a Bachelor’s degree for certain roles.

“The trend shift shows a broader recognition that practical skills, real-world work experiences, and the ability to self-learn can be more important measures of potential success than four years of formal college education in many job functions,” says Chief Education and Career Development Advisor, Huy Nguyen.

3. Streamline Your Internal Hiring Process

With attention spans rapidly shrinking, the push for brevity and speed is at an all-time high. Shouldn’t your company’s recruitment strategy follow suit? Acquisition processes that incorporate more than three interviews can stretch into weeks or even months — too long for skilled and seasoned job seekers active in their career search. Assess your current operation to ensure it’s as concise as possible, ensuring the candidates are meeting the most important people while also giving a clear picture of your company’s work culture and values.

4. Partner with a Staffing and Recruiting Firm

When in doubt, turn to the experts. Staffing and recruiting agencies are privy to all things hiring — having insights into what is and isn’t working for companies and today’s job seeker.

Recruiters are not only equipped with the skills to help businesses identify ideal candidates, but are also consultative regarding the entire hiring process. From helping managers effectively communicate their culture to professionals to offering suggestions that will optimize their hiring strategy, this type of partnership can give companies a leg up in the fight for top talent.

Many industries struggle to attract and retain top talent, and finance and accounting are no exception. In particular, the number of CPA professionals leaving the field has increased.

There are a few reasons for that. An aging workforce means more CPAs are reaching retirement age or opting to change careers. At the same time, fewer people are studying accounting and/or getting their CPA designation. This potential loss of knowledge and experience leaves companies scrambling to find people with the needed accounting skills, especially CPAs.

What CPAs Are Looking For

There are a few common reasons why people leave accounting. One recent survey of CPAs who had recently left their positions found that nearly 40% cited a higher salary as the primary reason. Other top responses included a desire for more flexible work options (35.6%), feeling that entry- and mid-level employees were more valued (33.5%), and better benefits (30.4%).

However, nearly 57% of respondents said they wanted to stay in the accounting field. That’s good news for employers: It’s within their capabilities to determine how to satisfy their employees and keep them engaged in the field, emphasizing the importance of meeting CPAs’ needs for their professional growth and satisfaction.

Keys To Retain CPAs

Taken together, it’s clear that most CPAs who recently left their job or who have left the field altogether did so to seek better compensation, have work-life balance, feel more valued, or some combination of the above. Salaries should be competitive for your area, but accounting professionals are also looking for improved benefits to help round out their compensation packages. Beyond compensation, it’s important for all workers to feel they have a career path and that their employer values them. Providing relevant professional development opportunities can be an important way to show accounting employees you’re invested in their continued success. Finally, while remote work doesn’t work for every position in every company, allowing flexible work options — whether that’s flexible hours or some version of remote/hybrid work — can go a long way toward attracting new talent and retaining the valued CPAs you already have on staff.

If you’re looking for help hiring CPAs or other accounting professionals, our expertise and network within finance and accounting can connect you with the skilled professionals your company needs. Contact us today to see how we can help.

A talented finance and accounting team can critically influence the organization’s success, from strategic decision-making to operational efficiency. Businesses often underestimate the value of investing in top-tier professionals. They may view these roles as a cost center rather than a strategic asset — overlooking the return on investment (ROI) they can achieve by investing in finance and accounting talent.

The right team of employees is more than a collection of skilled individuals. It’s a collaborative unit where everyone contributes unique talents and works together toward a common goal, a recipe for sustainable business growth.

Here are some tangible ways investing in financial and accounting talent can drive your organization’s overall performance and long-term success.

Increased Revenue and Profitability

Organizations listed on the “Fortune 100 Best Companies to Work For” exceed market performance by a ratio of 3.36. This statistic highlights talent management’s critical role in driving business growth and profitability.

Companies that prioritize recruiting, developing and retaining top accounting and finance talent realize a decisive competitive advantage.

Experienced professionals have expertise they can leverage to identify new revenue opportunities, improve pricing strategies and optimize operational efficiency.

Reduced Costs and Improved Decision-Making

Skilled finance and accounting professionals are adept at identifying waste, streamlining processes and implementing controls to mitigate unnecessary expenditures. This can translate into significant cost savings that drop straight to the bottom line.

With a high level of financial acumen and strategic insight, you can make informed decisions about capital investments, resource allocation and risk management. With the insights of a top-tier finance team, you can also adapt quicker to changing market conditions, pivot strategies and optimize capital utilization.

Enhanced Risk Management

A skilled and proactive accounting team is at the heart of effective risk management. They help you understand financial risks, adhere to compliance requirements and implement internal control frameworks to identify and mitigate potential threats.

By strategically hiring the right talent, you can take a proactive rather than reactive approach to risk management. You can allocate resources effectively, strengthen internal controls, and develop contingency plans to enhance overall resilience.

A robust risk management framework also has the advantage of bolstering stakeholder relationships.

Lenders, insurers and regulatory bodies all view effective financial governance and risk mitigation as signs of an organization’s stability and trustworthiness.

Assemble Your Dream Team With Century Group

A talented, experienced accounting team helps position any organization for sustained growth and profitability, even in an uncertain business climate. Century Group has a vast network of prequalified, experienced professionals, including active job seekers and passive candidates who are open to the right opportunity.

Don’t leave the future growth and profitability of your business to chance. Invest in financial talent that can propel you forward. Contact us today to learn more about our customized staffing solutions.

The business world constantly changes, and accounting teams must be agile to keep pace. The traditional full-time, permanent hires model may not always meet the dynamic needs of growing or evolving organizations. Adaptable, flexible finance and accounting teams offer a competitive advantage — from driving business growth to adhering to new regulations.

Here are notable ways contract-to-hire staffing solutions help organizations stay ahead in a fast-paced, ever-changing business environment.

1. Reduced Risk of Bad Hires

A bad hire can be a costly and disruptive mistake, especially in accounting roles where a good cultural fit is critical to teamwork and impacts accuracy, retention and morale.

Close to 75% of employers admit to having hired the wrong person for a position, and the average financial toll of each bad hire is $18,700.

The traditional hiring process relies on limited interactions and secondhand references, leaving the door open for surprises down the line. In contrast, the contract-to-hire model reduces the risk of bad hires by giving you more time to assess the fit. Before committing long-term, you gain firsthand experience of the candidate’s performance and team dynamics.

2. Time and Cost Savings

From crafting and posting job listings to conducting interviews and checking references, the time and effort required to find the right full-time hire can be significant. This is especially true when hiring specialized finance and accounting roles where competition for top candidates can be fierce.

The contract-to-hire model is a more streamlined, efficient and cost-effective solution. By tapping into the staffing company’s extensive network of prescreened and qualified candidates, your team has faster and easier access to talented professionals to meet their immediate needs.

It also allows you to scale your teams up or down as needed, which can be invaluable during growth, seasonality or other demand fluctuations.

3. Time To Experience the Candidate in Action

The contract-to-hire approach gives you adequate time to experience a candidate’s fit within the team dynamic.

Rather than relying on a resume and an interview, you can see how well they collaborate in real-world scenarios, observe their communication style and test their problem-solving skills.

This informed decision-making maximizes the likelihood of a strong cultural fit and aligns expectations, leading to more successful, productive hires.

The Flexibility To Scale Your Team

A contract-to-hire model is a flexible approach that helps reduce hiring risk, saves time and money and lets you gain insights into a candidate’s fit. At Century Group, we have deep expertise and a vast network of candidates to help our clients optimize their staffing strategies. We work closely with you to understand your unique needs and identify top-tier candidates who can deliver immediate impact and long-term value.

If your finance or accounting team is facing challenges with scaling, meeting evolving demands, or ensuring the right cultural fit, connect with our team today.

A recent survey of more than 1,000 employers revealed that hiring and retaining employees is a significant concern. The right talent fuels any organization’s success, and the cost of a bad hire can be steep. Companies are realizing they need to be proactive and strategic to attract and retain top performers, especially in finance and accounting, where competition for qualified candidates is fierce.

Robust hiring strategies ensure organizations build a strong team of knowledgeable and skilled professionals. Here are three ways you can enrich your team with high-caliber professionals.

1. Promote Regular Salary Reviews as Part of Company Culture

Regular salary reviews ensure your compensation packages remain competitive and aligned with the market rates. This helps you retain your current staff and makes you more attractive to new hires who see you stay up-to-date by regularly raising pay rates.

Research industry standards, consult salary surveys and benchmark against competitors in your region. Make it part of your company culture to adjust salaries to match or exceed market rates at least once a year.

2. Highlight Growth and Career Paths During the Interview Process

While competitive compensation is crucial, top finance and accounting talent is often drawn to organizations offering robust professional growth and career advancement opportunities. During the hiring process, it is essential to highlight the potential career paths available within your organization.

Engage candidates in open discussions about their aspirations and long-term goals. Outline clear roadmaps for progression within the company to demonstrate your commitment to their professional development. By vividly portraying the potential trajectories, you can position your organization as an attractive destination for ambitious professionals seeking challenging and rewarding careers.

3. Give Your Team the Technology it Needs to Thrive

Don’t bog down your top performers with outdated software or clunky processes. Seek out software that streamlines workflows, eliminates tedious manual tasks and provides real-time insights.

By giving your finance and accounting aces access to cutting-edge tech, you’ll empower them to work smarter, not harder. They’ll appreciate your commitment to arming them with the best resources available. When they can maximize their efficiency and deliver exceptional results, they’ll be more motivated to stick around.

Productive Teams Equal a Competitive Edge

You don’t want to waste time attracting and hiring strong candidates while your company misses opportunities or your current staff is overloaded. Partnering with a specialized recruitment firm such as Century Group can significantly enhance your hiring process — granting you access to a wealth of unadvertised and passive talent pools.

With our expertise and vast network in the finance and accounting sectors, we can connect you with the skilled professionals your company needs to thrive. Don’t let hiring challenges hold your business back. Contact us today, and let’s build a productive, competitive team to give your business an edge.

It’s a challenging market for attracting and retaining workers in all industries. As many experienced workers retire and others look for new opportunities, employers can find themselves challenged to hold on to top talent. The good news: There are straightforward, practical steps you can take to ensure your best employees stay with you. Even more — those retention strategies can double as impactful recruiting methods, as well.

Top Retention Strategies for 2024

While the details of why any employee looks for a new position vary, it usually boils down to a few factors: employees who feel underpaid, under-appreciated and overworked. So, your retention strategies should be focused on preventing those issues from developing. Take some time to look at your current policies and practices to ensure employees feel they have the following:

1. Fair Compensation

For employees, fair compensation means more than just making more than they used to. Look at the salaries you’re offering compared to what your competitors are paying and the cost of living in your area. Salaries can be above average for your industry but still lag within your geographical location. You can factor in the value of benefits and other job perks, too, but keep in mind that free bagels every Monday can only go so far if the company down the street pays an average of $5k more per year.

Check out our 2024 Salary Guide for a curated compensation report of more than 40 accounting and finance positions and other hiring insights.

2. Work-Life Balance to Prevent Burnout

We may be out of the crisis period of the pandemic, but its effects on the work world continue. Many people have permanently changed their view on work-life balance, and it’s a significant factor in where they choose to work. Try to build in flexibility so employees don’t have to choose between their jobs and personal lives. Benefits like remote work, flexible hours, and maybe even a four-day workweek can boost morale while maintaining productivity.

Plus, employees who experience an increased workload become looser in the seat — sometimes seeking alternative opportunities that better meet their needs.

Utilizing consultants for project-based work can help alleviate unexpected job duties, so your team doesn’t have to bear that burden in addition to their regular responsibilities.

3. Recognition and Rewards

Everyone likes to feel appreciated for their work — and few of us feel we get enough of it. Even simple, inexpensive ways of recognizing employees’ efforts can help them feel that they and their work are recognized and appreciated. It’s also worth reminding managers to sprinkle more positive affirmations in their informal discussions with employees. In the day-to-day, it’s easy to focus on challenges and then forget to follow up with an appreciation for the solutions employees find.

4. Opportunities for Training and Development

Even workers who love their job and the company may get antsy if they don’t see a clear path to career progress — however, they may envision it. You can prevent that by ensuring you have a solid onboarding process to set the right tone from day one, as well as mentorship and formal training opportunities. That can look different for every employee. Some people may want to move into management, while others are happy to stay in their current position as long as they can learn about the latest trends and software in the industry. The most important thing is to make sure whatever training and development you offer is tailored to employees’ career goals as much as possible.

Retention strategies to attract and keep top talent don’t have to mean reinventing the wheel. All it takes is reviewing your current efforts on compensation, training and more with an eye to how it can be a tool to help you improve your team. If you’re still challenged to find the talent you need, contact us to see how we can help.