The past year has brought unprecedented change for virtually every business, industry and market. As the global crisis is one of public health concern, business leaders have been faced with unique challenges in operations including following local, state and federal guidelines.
Some businesses have moved in-office workforces to fully remote or hybrid environments, and others have launched new solutions and offerings to accommodate the changing times.
As we take a look ahead, economists are urging businesses and the public-at-large to not only think about long-term strategy but to accept that the effects of COVID-19 may be permanent.
How does this impact accounting, finance and technology professionals, specifically?
Even with record-high unemployment rates, we are seeing professionals in these areas will continue to be in demand in 2021—but the profile most sought after may look a little different.
For accounting and finance, businesses may look for strong critical-thinking individuals who have a deep sense of empathic understanding. For technology, leaders may seek out technology professionals in crucial areas that allow businesses to keep their employees, customers, consumers and the public connected.
Recently, Brilliant published its 2021 Salary Guides, and based on extensive research and analysis conducted, we are expecting a 1.5 to 2% increase in base salaries for accounting, finance, tax, audit, treasury and technology positions in the year ahead.
I thought it was important to discuss the important trends we gathered from our research.
Take a look at the Top 4 Trends to Look For in 2021 below.
- Flexible work models likely to increase.
Whether firms need extra support during peak seasons, times of turnover or for medical leaves, a flexible labor model consisting of contract or interim resources can be a lifesaver for many businesses. What is unique to the current COVID crisis and the year ahead is that finance leaders are now finding that engaging a third-party provider to help construct their teams is not only a choice—it’s critical to performing essential functions and sustaining business.
- IT certifications will go a long way.
Since much of the world is working remotely, it’s an opportune time to add to your skillset to prepare for an enhanced role in 2021. From data science to cloud architecture to artificial intelligence, there are numerous certifications that can help set you apart from what could be a competitive labor market. The added knowledge can net you a higher salary, as well.
- Company culture likely to shift.
With an onslaught of Zoom calls and other virtual meetings taking over the corporate world this year, businesses have had to work through changes in culture. While having some remote workers is nothing new, having entire teams working remotely has definitely called for some creative adjustments in keeping company culture alive and morale high. Many companies have implemented virtual happy hours, online sales contests, virtual coffee chats and more. Some businesses are even considering remaining remote long past the COVID crisis—giving further evidence of a shift in company culture.
- More businesses likely to partner with staffing firms
Now more than ever, businesses are faced with various challenges when it comes to hiring, systems, operations and more. Partnering with a consulting/recruiting/staffing firm that specializes in providing expert resources in areas most needed can really help businesses’ long-term bottom lines. For any hiring or interim business needs, please contact us today.
What are some other trends you’re seeing for accounting, finance and technology professionals in 2021? Comment below and let us know!