Tag: General Resources

Within this General section, you’ll find a curated collection of posts that seamlessly combine the latest in employment trends with invaluable advice, giving you a well-rounded perspective on the ever-evolving world of accounting and finance.

2020 Q1 Accounting and Finance Employment Report

The decade closed on a high note for the U.S. economy — capping off 11 years of consecutive job growth with the creation of more than 2.1 million jobs in 2019. In fact, employers added a solid 145,000 workers in December, while the unemployment rate remained unchanged at a record-low of 3.5%.

Economists expect the pace to continue its cool down in 2020, projecting an average fall of 25,000 jobs created per month, according to The New York Times. Wage growth is also an area of concern, as the average increase within the last 12 months was just 2.9% compared to 2018’s average of 3.3%.

But for job seekers, 2020 is rife with opportunity. The U.S. Bureau of Labor Statistics reported the unemployment rate for college-degreed workers tumbled well below the national average last month to a mere 1.9% — illustrating the continued value of skilled and credentialed workers in a candidate-driven labor market.

December 2019 Unemployment Rate: 3.5%

Accounting and Finance Employment Report 2020 Q1

Source: BLS

CENTURY GROUP’S FORECAST

For Employers

Top hiring trends haven’t changed much in the past few years, highlighting the fierce competition for workers in a tight labor market. And for employers, perfecting the candidate experience is everything. From offering competitive salaries to engaging candidates with a strong sense of your company’s brand and culture, buying into these key areas will encourage professionals to buy into you.

“In a world of increasing transparency and corporate accountability, a strong company culture is no longer a nice-to-have — it’s a business imperative,” explains Glassdoor. “For one, company culture has a significant impact on a company’s ability to recruit and retain top talent.”

The looming recession also has employers preparing for candidate pools to widen, but maybe not with the caliber of skill they’re used to. Loosening job requirements and hiring for potential is a mantra companies should embrace. Seek candidates that exhibit soft skills like adaptability, willingness to learn and problem solving experience — these abilities will be key to your business’ future success.

Look out for the 2020 Salary Guide for more hiring trends and comprehensive salary data to help you attract accounting and finance professionals in your area.

For Candidates

Sure, job seekers hold more of the power in today’s hiring dynamic. But a slowing economy and the allure of a new year makes competing against your colleagues challenging, even for the most qualified applicants. Streamline your resume to include key words the job description asks for and tailor your cover letter to the specific role. Be sure to highlight your software skills and quantify how you’ve added value in your previous positions.

It’s also imperative to look beyond traditional job search sites when finding the right career move for you. The start of the year brings many networking events to get on your calendar, and don’t be afraid to reach out to former colleagues or LinkedIn connections to ask for references or leads. For those looking for a speedier, more specialized search, partner with a staffing and recruiting firm to find roles not listed on job boards or that meet your specific criteria.

Not sure where to start? Check out some of our latest jobs nearest you or submit your resume today to connect with one of our recruiters.

Century Group Launches New Office in Denver, Colorado

Since opening its doors in 1989, Century Group has established itself as a leading executive recruiting and project/interim services firm specializing in accounting and finance professions. And the thriving company recently set its sight on Denver, Colorado — taking its growth into new territories.

It launched its fifth location in Denver’s bustling metropolis in early March, bringing Century Group’s unique approach, known as The Group Concept, to the city’s vibrant job market.

“We have been identifying new locales for expansion,” says Ron Proul, CEO. “Denver is one of those that allow The Group Concept to service the region’s clients in the same way we have excelled in other markets.”

Century Group prides itself on a company-wide philosophy that’s grounded in collaboration. Its team shares the risks, as well as the rewards — helping to ensure that the success of Century Group’s network of clients, candidates and consultants remains the group’s collective focus. Its clients range from start-up to Fortune 100 companies, and encompass a wide variety of industries. But Century Group’s singular process can be successfully applied to each — with specialized solutions designed to meet individual companies’ needs and goals on a project, interim or direct-placement basis.

Managing Director, Peter Nelson, has worked with the search firm for nearly two decades, witnessing firsthand the value Century Group’s services provide to its clientele. The idea that talent can transform an organization is what Century Group believes sets businesses apart in today’s competitive marketplace — and it’s Nelson’s understanding of this that will help him as he leads the company’s latest venture.

“I’m excited about this new chapter in my career, and to take on this new challenge for the firm,” Nelson says. “I’m looking forward to bringing my 18 years of experience in The Group Concept to building a team in a new market.”

 

DENVER OFFICE LOCATION

1200 17th Street Suite 1225
Denver, CO 80202
(800) 337-9675

ABOUT CENTURY GROUP

Century Group provides financial executive search, professional recruitment, project and interim professional services in the areas of accounting, finance, internal audit and tax for middle market, Fortune 500 and Global 1000 companies. For more information about the Century Group accountant employment agency, please visit www.century-group.com.

Q4 Accounting and Finance Employment Report

Q4 comes on the heels of record unemployment for September: 3.5% — the lowest it’s been since December 1969.

Job growth continued to trend downwards, however, with the U.S. Bureau of Labor Statistics reporting that employers added 136,000 jobs last month. This remains in-line with 2019’s average pick-up of 160,000 jobs for the first nine months of the year.

Compared to 2018’s monthly average of 223,000 jobs, the story is clear — the economy may still be expanding, but at a slower rate. Both the manufacturing and retail sectors continued to shed jobs for a second consecutive month, while economists fear the trade war with China is causing wage growth to stall.

Still the outlook for accounting and finance professionals remains distinctly positive. Education and health services and professional and business services led the way in job creation — together adding a combined 73,000 jobs in September. The unemployment rate among college graduates also fell to 2%, illustrating the strong demand for skilled professionals in a tight labor market. For accounting and finance professionals, it remains well below this rate.

September 2019 Unemployment Rate: 3.5%

accounting and finance employment Q3

Source: BLS

CENTURY GROUP’S FORECAST

For Employers

We saw wage growth tumble from 3.2 percent to 2.9 percent last month, even as the national unemployment rate dropped. Some economists attribute this to businesses playing it safe in response to the cooling market. But employers must remain competitive when it comes to offering top candidates great pay, benefits and career development opportunities. This is especially true in high-demand professions, including accounting & finance, healthcare, science, technology, engineering and mathematics.

In fact, The Science of Care’s recent study reported “60% of workers who said they felt cared for plan to stay with their companies for three or more years.” This can encompass everything from a strong benefits package to providing training and an inclusive company culture. Ninety percent of participants who feel cared for are also more likely to recommend the company to others, and can function as a strong recruitment strategy.

For Candidates

In today’s strong labor market, accounting and finance professionals with MBAs, CPAs and specialized skill sets are increasingly valuable — especially with more open roles than job seekers. Many employers cite lack of available skilled employees as their No.1 concern, and are turning to temporary professionals to complete key projects and fill roles on an interim-basis rather than investing in a permanent hire. BLS reported temporary employment edged up 0.3% in September from the previous month.

Use this trend to your advantage.

Exploring temporary employment opportunities is a lucrative route to explore different roles and find the best fit for you. If you’re looking for something specific, partnering with specialized staffing finance firms can help expedite your search by connecting you with positions that best meet your criteria.

Submit your resume or contact us today to help with your hiring needs.

Boost Your Career by Developing These 5 Soft Skills

AI can seem like a formidable foe to the everyday employee. For one, artificial intelligence has the potential to increase productivity. Joined with enhanced accuracy and reduced costs, and the future looks progressively automated.

Fret not, candidates. Employers don’t underestimate the soft skills needed for a company to thrive — characteristics that bring value to an entire organization and remain wholly human. Professionals looking to boost their desirability should consider upskilling in the indefinable. Because while technical aptitude and educational backgrounds have their place, developing soft skills like communication and empathy in the workplace will help you through your entire career trajectory — wherever that may lead.

1. COMMUNICATION

Communication skills encompass a few things: active listening, clear, thoughtful speech and an ability to effectively work in a team setting. Simple, right? Not always. The best communicators are often the least verbal. Instead, they choose to let others do the talking and process the information before interjecting with meaningful ideas that move the conversation forward.

For job seekers, proving that you’re able to successfully master these areas must be expressed and emphasized from your cover letter through the entire hiring process. Share examples of how your communication skills have allowed you to complete and collaborate on projects, and be sure to be a present participant during interviews.

2. EMPATHY

This soft skill is important in all aspects of life, but is especially handy in the workplace. Empathy allows us to understand perspectives other than our own, as well as ups our emotional IQ. That way, we’re able to read into certain situations, make adjustments and create strong relationships with the people we regularly work with and depend upon.

3. CREATIVE PROBLEM-SOLVING

Stuff happens. It’s how you respond that matters. Problem-solving is a concept that’s prevalent in our everyday lives, but not always done well. Does a roadblock cause more than a stumble in your productivity or does it generate innovation? Learning to detach from the issue and think free of bias are the first steps to developing this skill.

4. PATIENCE

Practicing patience in an era of instant gratification seems less of a virtue and more of an impossibility. Still, it has real merit in the workplace. A company’s culture is largely based on how its employees communicate and interact with one another. Finding employees that are able to remain level-headed in stressful situations and foster a calm, safe space for collaboration with their colleagues are essential to a building a thriving work environment. It’s also a key indicator of leadership potential — something all companies are on the lookout for when building their teams.

5. ENCOURAGEMENT

Motivation is a powerful thing. And for most, positive reinforcement is just the trick to get people — and ideas — in motion. The ability to influence your peers is a crucial soft skill to achieving results, and helps encourage better output and self-confidence.

Ready to put your soft skills to the test? Check out our latest jobs in accounting, finance, tax and audit and apply today!

Top Industries Hiring in 2019

Sure, June’s solid job creation helped ease some concerns of a slowing economy — but it’s always in your best interest to take advantage of the tight labor market while you can.

One method: know where the jobs are.

WHERE THE JOBS ARE

High-earning jobs like registered nurses, accountants and auditors are expected to grow 5.71% through 2023, according to CareerBuilder. In fact, the unemployment rate for accountants and auditors was a low 1.5% in June — helping to illustrate this trend. Low-wage positions are also set to experience sizable growth, while middle-wage roles is a moderate 3.83%

Several key sectors have helped drive the economy in Q1 and Q2, with professional and business services, health care and education and leisure and hospitality leading the way. But other sectors made notable gains in June, according to the U.S. Bureau of Labor Statistics.

2019’S TOP INDUSTRIES

Here are a few of the top industries that are hiring into 2019’S Q3 at a glance:

Top Industries Hiring in 2019

 

 

 

 

 

 

 

 

 

 

 

Source: BLS

PROFESSIONAL & BUSINESS SERVICES: Since January 2019, this industry has added an average of 35,000 jobs per month, which is down from last year’s average monthly gain of 47,000. Still, professional and business services led growth in June with 51,000 added jobs.

Browse Professional and Business Services Jobs »

EDUCATION AND HEALTH SERVICES: This supersector added 35,000 jobs in June 2019 — averaging a total of 403,000 over the past 12 months. BLS notes that the most growth took place in ambulatory health services and hospitals.

Browse Health Services Jobs »

TRANSPORTATION AND WAREHOUSING: According to BLS, this industry added 24,000 jobs last month. Top gains included couriers, messengers and air transportation.

Browse Transportation Jobs »

CONSTRUCTION: Hiring in the construction industry continued to trend up in June, adding 21,000 jobs.

Browse Construction Jobs »

MANUFACTURING: After an overall disappointing early half of 2019, manufacturing employment added 17,000 jobs at the end of Q2. The areas that edged up included computer and electronic products and plastic and rubber products.

Browse Manufacturing Jobs »

Q3 Accounting and Finance Employment Report

May’s lackluster 72,000 added jobs indicated what many had feared — the economic slowdown is here. But if June’s encouraging bounce-back showed anything, we’ve staved off that reality for a bit longer.

The Labor Department reported 224,000 jobs were created last month and helped to close Q2 on a strong note. The unemployment rate’s slight rise from 3.6% early in the quarter to 3.7% is also a positive marker, according to the The New York Times. And actually illustrates the influx of people participating in the U.S. workforce rather than a warning of something more dire. For college-degreed individuals, unemployment remains at 2.1%.

Signs that wage growth is beginning to slow are also apparent. Hourly earnings rose only 3.1% percent within the last year — barely missing market expectations of 3.2%.

accounting and finance employment Q3

Source: BLS

UNEMPLOYMENT RATE DOWN FOR FINANCIAL PROFESSIONS

One thing is evident: the demand for accounting and finance professionals remains in full force. According to The U.S. Bureau of Labor Statistics, unemployment for accountants and auditors dropped from 1.8% to 1.5% at the end of Q2 — falling well below the national unemployment rate and those with a Bachelor’s degree and higher.

Here’s the unemployment breakdown by roles:

  • Accountants and auditors: 1.5%
  • Financial managers: 1.2%
  • Financial analysts: 1.4%
  • Bookkeeping, accounting and auditing clerks: 1.8%
  • Billing and posting clerks: 1.0%

CENTURY GROUP’S FORECAST

For Employers

ITR Economics’ Trends Report foresees an optimistic outlook for the U.S. Private Sector within the next couple of years: employment will rise through at least 2021. Yes, the pace is expected to slow as we head into the last quarter of 2019 and into next year. But companies should resist the impulse to reduce their teams, as today’s tight labor market continues to make it difficult to replace employees.

Bottom line: Employers should continue courting candidates. Focus on offering competitive salaries, remaining engaged throughout the hiring process and presenting job offers quickly.

For Candidates

Now is a great time for job seekers to explore their options. Evaluate your current role — are all your needs being met? Networking with colleagues and other professionals can help introduce you to new positions that are a better fit.

But remember: when considering a new role, it’s important to remain a courteous candidate. Practicing flaky and rude habits like “ghosting” can have long-term effects on your career.

Download your copy of our 2019 Salary Guide for more employment trends and insights.

Financial Job Outlook

Financial Job Outlook
Everyone I talk with, clients and candidates, are interested to find out the status of the job market. Why not, listening to the news there is no shortage of layoffs. The media and companies have given up the euphemisms such as “right sizing” or “downsizing” and settled on the plain language of “lay offs”. Those in accounting and finance are faring better than most I talk with in other disciplines. Without a doubt it is slower today than even six months ago, the days of landing two job offers in two weeks are gone. Still there exists a fair demand for talented accounting and finance professionals.

Download PDF

OC CFO Forum Spotlights the Evolving Role of CFOs in M&A

There’s no question about it: 2018 is all about the deal.

With a strong economy as the catalyst, companies are increasingly turning to mergers and acquisitions as a means for growth, widening their consumer base and increasing overall productivity. In fact, $2.5 trillion in mergers was announced for the first part of this year — a number that is on track to surpass 2015’s record total of $5 trillion, according to The New York Times.

And a hot-button topic suitable for the theme of this year’s OC CFO Forum.

OC CFO FORUM

For its third installment, the exclusive event attracted an intimate gathering of leading area CFOs on Oct. 17 at Water Grill in Costa Mesa. Century Group, Mercer, Marsh & McLennan Companies and MetLife co-sponsored Wednesday’s forum, which aims to provide a unique resource for CFOs to sharpen their understanding of emerging trends, build and maintain relationships and discover new opportunities.

“The Mercer/Marsh partnership with Century Group is a terrific way to show our appreciation to the Orange County business community by connecting finance leaders with each other to develop relationships built on learning, collaboration and having some fun,” says Janet Vreeland, Principal of Regional Market Development at Mercer.

THE PANEL

To tackle the multifacted role of CFOs in M&A, the forum tapped panelists Jim Heiken with Bourns, Inc., Paciolan’s Kimberly Boren and Mike Schantz at Jenny Craig to share their personal experiences and insights. Former NFL quarterback, TV analyst and Vice President of New Business Development at Marsh and McLennan Companies, Steve Beuerlein, helped set the stage and moderated the conversation.

“We all know that today’s CFO is a multifaceted role involving many focuses,” he said, opening the discussion. “But the CFO’s involvement with strategic development, and particularly M&A activity, can profoundly impact the finances and operations of the company for years to come.”

Three Keys to M&A Success as a CFO:

1. Creating the Financial Model

For Schantz and Boren, the financial model is paramount. “The financial model, from my perspective, is the life blood of the deal. It’s the financial summation of the investment thesis for the buyer and what the seller is trying to convey,” Schantz explained. Boren also highlighted the importance of modeling revenue synergies conservatively when buying another company. “That allows us to pay a fair price … and also protect ourselves from any downsides in the future,” she said. Heiken advised his peers to always focus on the core competencies of their organization and expand from there. Because, as he put it, “diversification equals risk.”

2. Building Your Dream Deal Team

While the CFO must wear different hats to bring a deal together, they still rely on experts to handle the intricacies and complexities of modern dealmaking. All three panelists stress the importance of having the right support throughout all phases of the transaction, which includes investment bankers, attorneys, tax specialists, insurance companies and management team. “They all have to deliver a similar message to not disrupt the process,” Schantz said.

3. Leading the New Culture

Boren noted that this area has taught her one of her greatest lessons in the CFO role. “I can be on the naïve side and assume everyone will just get along. I’ve seen alliances being made and leadership in the acquired business be let go.” Her advice: “If you’re going to make those type of decisions, make them quickly.”

Both Schantz and Heiken have experienced mergers between companies in different countries — requiring them to effectively form a single, unifying vision for the company moving forward. For Heiken, an acquisition Bourns, Inc. made four years ago in Japan helped him learn how to successfully adjust to companies’ unique cultural structures. “As a CFO, you have to make sure that you add value and are seen as a team player. That will help them accept your ideas and thoughts.”

The forum concluded with an open Q&A with guests and continued conversation over dinner.

“Building great teams, great cultures and helping clients succeed is at the core of who we are at Century Group,” says Barnaby Wang, Senior Director of Executive Search at Century Group’s Costa Mesa office. “The OC CFO Forum is another opportunity for us to bring financial executives together and connect them with each other and with new ideas that will make everyone a little bit better than when they came in the door.”

Century Group walks in the 2014 OC Heart Walk

Tom Erwin, Executive Recruiter for Century Group walks in the 2014 OC Heart Walk to benefit the American Heart Association & Alexander Roulette 

Tom Erwin, Executive Recruiter with Century Group, took a stroll in the 2014 Orange County Heart Walk to help raise money and awareness for the American Heart Association on behalf of young Alexander Roulette – age two.

For Alexander Roulette the journey is just beginning. At birth he was diagnosed with a rare heart defect that will require open heart surgery in a few years. Although a serious condition, he is doing well and enjoying his life as a high energy two year old.

Alexander was lucky.  His condition was caught early in life. For some this can go undetected and untreated for years.

oc_heart_walk 

Ron Proul, CEO of Century Group noted, “Alexander’s family and friends are working to spread awareness and educate others about the importance of research.  At Century Group we’re joining in the effort in a small way by supporting Alexander in the 2014 OC Heart Walk and by partnering with the Los Angeles Business Journal in support of Heart Awareness Month.  We hope you’ll join us in this worthwhile quest.”

Support Alexander Roulette

Please support Alexander’s cause, not only by filling the piggy bank, but by committing to walk with him as he runs for the future of his heart.   You can support the cause by going to his webpage:

My Heart Beats For Rou

About Century Group

Founded in 1989, Century Group provides financial executive search, professional recruitment and interim professional services in the areas of accounting, finance, internal audit and tax for middle market, Fortune 500 and Global 1000 companies.

More information about the Century Group accountant employment agency is available at www.century-group.com

Q2 Accounting and Finance Employment Report

Q1 ended on a high note — painting the picture of a healthy job market as March came to a close. February’s disappointing 20,000 jobs even edged upward to a revised 33,000, while the Labor Department reported an impressive gain of 196,000 jobs last month.

These figures surpass most economists’ expectations as the threat of a slowing economy appears to be abated for now. But growth is moderate, especially in comparison to last year’s stellar numbers. According to The New York Times, 2018’s high job production rate wasn’t sustainable long-term, and strong hiring in several sectors — including professional and business services — is a positive sign for the U.S. labor force. Pay increases also indicate continued economic expansion, with hourly wages reported as 3.2% higher than last March’s.

UNEMPLOYMENT RATE REMAINS STEADY

Source: BLS

The Bureau Labor of Statistics reported the unemployment rate remained at 3.8% in March, while the number for college-degreed workers shrunk from 2.2 to just 2 percent. This number is even lower for accountants and auditors. For Q1, BLS reported the unemployment rate at 1.8% .

Here’s the unemployment breakdown by roles:

  • Financial analysts: 1.0%
  • Financial managers: 2.3%
  • Accountants and auditors: 1.8%
  • Bookkeeping, accounting and auditing clerks: 2.0%
  • Billing and posting clerks: 1.2%
  • Compliance officers: 0.8%

Bottom line: Skilled and credentialed financial professionals remain in-demand, as employers continue to compete for top talent.

CENTURY GROUP’S FORECAST

For Employers

The story hasn’t changed much. For employers, a tight labor market and a low, steady unemployment rate translates to more hiring and recruiting challenges as we move into Q2. To stand out, showcase aspects that are attractive to today’s talent: engaging company culture, competitive compensation packages and roles that offer growth and mentorship opportunities.

Companies seeking candidates with specific skill sets should consider the help of staffing and recruiting firms that can help identify professionals with the right background.

For Candidates

This candidate-driven market has given job seekers an edge. Your skills are a valuable resource — use that to your advantage.

Take the time to weigh what factors are most important when identifying your next career opportunity. Is work-life balance a priority? How about benefits and perks? Make sure you address these areas during the interview process, so you can find the best position — and company — for you. Becoming a temporary worker is also a profitable way to experience different roles on a more flexible schedule.

For those candidates who want to make themselves even more attractive to employers, consider upskilling. According to our 2019 Salary Guide, accounting and finance professionals with CPAs and MBAs are the most sought after. Improving your soft skills is also an option for job seekers looking to get ahead, and can be applied throughout your career.

Download our 2019 Salary Guide for more industry trends and insights, or contact our team to help with your hiring needs.