2017 - gfoa.ab.ca€¦ · positions in demand 17 1. payroll administrator 2. accounts payable/...
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© 2017 Robert Half International Inc. All rights reserved.
Branch Manager, EdmontonJenn Embury
2017HIRING AND COMPENSATION TRENDS
© 2017 Robert Half International Inc. All rights reserved.
Sources of Information
Thousands of full-time, temporary and project placements made by our offices throughout the year
Local insight from our recruiting and staffing experts
Exclusive research we conduct among CFOs, senior managers and employees
A review of actual starting salaries in 2016
An extrapolation of current trends into 2017
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© 2017 Robert Half International Inc. All rights reserved.
The hiring environment Public accounting
Financial services Local trends
Trends Examined
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The Hiring Environment
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The Hiring Environment
Entry-level upswing
“Pent- up movement”
Interim professionals filling gaps
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What employers seek:
Functional skills
Collaborative personalities
Professional credentials
The Hiring Environment
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The Hiring Environment
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What employers seek:
Functional skills
Collaborative personalities
Professional credentials
© 2017 Robert Half International Inc. All rights reserved.
Hot Jobs
Financial analystBookkeeperProcess Improvement
SpecialistsPayroll Professionals
The Hiring Environment
Internal auditorSenior accountantAP/AR Technicians
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The Hiring Environment
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The Hiring Environment
Help Wanted
Companies need individuals proficient with:
Enterprise resource planning (ERP) systems Cloud-based software Hyperion, for financial analysts QuickBooks, for small and midsize businesses
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Public Accounting Trends
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Public Accounting Trends
Hiring at all levels
Tax and audit experience in demand
Compensation rising
Work-life balance initiatives
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Local Trends
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Local Trends
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roberthalf.ca/salary-centreRegion-specific insights on positions in demand and growing industries are available at
© 2017 Robert Half International Inc. All rights reserved.
Labour Market Trends
The national unemployment rate fell to 6.5% in April 2017, down 2% from March.
Unemployment in Alberta is at 7.9% for April, an 0.5% improvement from March.
Alberta Management Occupations is at a 2.6% Unemployment for April.
Alberta Business, finance and administrative occupations are at 5.2% unemployment for April.
Growth means fewer people looking for work; the unemployment rate in the province was 7.9% in April, down 0.5% from the previous month.
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Fastest Growing Industries
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1. Real Estate/Property Management
2. Construction
3. Financial Services
1. Government/Public Sector
2. Real Estate/Property Management
3. Healthcare
1. Logistics
2. Real Estate/Property Management
3. Construction
1. Professional Services
2. Financial Services
3. Manufacturing
1. Technology
2. Healthcare
3. Construction
1. Real Estate/Property Management
2. Financial Services
3. Professional Services
1. Manufacturing
2. Transportation
3. Agriculture
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Positions in Demand
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1. Payroll Administrator
2. Accounts Payable/ Accounts Receivable Supervisor
3. Financial Reporting Manager
1. Senior Accountant
2. Payroll Administrator
3. Controller
1. Senior Accountant
2. Controller
3. Bookkeeper
1. Controller
2. Financial Analyst
3. Accountant
1. Controller
2. Financial Analyst
3. Payroll Administrator
1. Financial Analyst
2. Compliance Manager
3. Tax Accountant
1. Controller
2. Financial Analyst
3. Payroll Administrator
© 2017 Robert Half International Inc. All rights reserved.
Calculating Salaries for Canadian Markets
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High and low ends of national
salary rangex
Local variance index number
as a percentage
= Salary Range
Starting salary range for a senior internal auditor at a large company in Edmonton
$92,750 x 1.018 = $94,419.50 (low end)$118,250 x 1.018 = $120,378.50 (high end)
Example:
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What Matters to Millennials
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Salary is important, but the opportunity for career growth is close behind
Discuss ideal career path Lay out a plan for career growth Promote professional development
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Baby BoomersBorn 1946 to 1964
(ages 51 to 69)
Generation XBorn 1965 to 1977
(ages 38 to 50)
Generation YBorn 1978 to 1989
(ages 26 to 37)
Generation ZBorn 1990 to 1999
(ages 16 to 25)
Generation by Generation
Sources: The Changing Workforce: Urgent Challenges and Strategies, 2007, Joe Kristy, Associate partner, Human Capital Management Practice, IBM; Bruce Tulgan, founder, RainmakerThinking
© 2017 Robert Half International Inc. All rights reserved.
Generation by Generation
Baby Boomers Generation X Generation Y Generation Z
Challenge the rules Change the rules Create the rules Customize the rules
Change = caution Change = opportunity Change = improvement
Change = expected
Guarded communication
Hub and spoke communication
Collaborative communication
Face-to-face communication
Unilateral leadership Coach leadership Partner leadership Teaching leadership
Horizontal problem-solving
Independent problem-solving
Collaborative problem-solving
Entrepreneurial problem-solving
Sources: The Changing Workforce: Urgent Challenges and Strategies, 2007, Joe Kristy, Associate partner, Human Capital Management Practice, IBM; Bruce Tulgan, founder, RainmakerThinking
© 2017 Robert Half International Inc. All rights reserved.
Who are Gen Zers?
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Who areGen Zers?
Digital natives More diverse* More educated*
*Source: U.S. Census Bureau
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Gen Zers prefer to deal with their
peers, not authority figures.
Gen Zers prefer to communicate via handheld devices
at work.
Gen Zers prefer to be left alone to
figure out things on their own.
Gen Z: True or False?
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Entrepreneurial, innovative and passionate Crave security Strong influence of parents Clear career goals
Common Values
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Where do Gen Zers expect to be five years after college?
Career Expectations
© 2017 Robert Half International Inc. All rights reserved.* Top five responses shown.
24%Working my way up the corporate ladder although not yet among the management ranks
32%Managing orsupervising
employees ina corporateenvironment
20%Starting my own business/being an entrepreneur
9%Pursuing higher education
6%Working for a nonprofit organization
Which of the following best describes where you expect to be in your career in five years out of college?*
CareerExpectations
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Do Gen Zers expect to work harder or less hard than past generations ?
Gen Z’s Career Expectations
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* Total does not equal 100 per cent due to rounding.
Gen Z’s Career Expectations
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Generation Z’s Strengths
Propensity for creativity and innovation Lifelong learning Diverse
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Generation Z’s Weaknesses
Soft Skills Gap• Rigorous self-evaluation*• Taking personal responsibility*• Maintaining a positive attitude*• Taking good care of themselves*• Self-presentation*
*Source: Bruce Tulgan, founder, RainmakerThinking
© 2017 Robert Half International Inc. All rights reserved.
How Gen Zers Wants to Work
Expect to work for many companies Desire a collaborative workplace Prefer face-to-face communication Want a boss who is on their team
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What are the growth opportunities? Where does the company fit in my life? Does it align with my personal beliefs and
goals?
Top Job Considerations
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Generation Z
$46,779
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Top Priorities
What is most important to Gen Z workers in a job?
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Gen Z’s Top Priorities
* Multiple responses were permitted.
What are your top three priorities when seeking a full-time job?*
64% Opportunities for
career growth
44% Generous pay
40% Making a difference
or having a positive
impact on society
38% Structured/stable work
environment/job security
25% Good healthcare
benefits/insurance
23% Flexible hours/remote
work options
21% A manager I can learn from
12% Working for a high-profile
company
11% Generous paid time
off/vacation time
9% Philanthropic or social
service opportunities
6% Short commute
3% An impressive job title
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Become highly engaged and honest in the hiring process.
Give a realistic job preview. Give examples of personal and corporate integrity
when talking with them. Demonstrate genuine ties to the community and
social responsibility. Hire quickly.
Keys to Recruiting Gen Z
© 2017 Robert Half International Inc. All rights reserved.* Total does not equal 100 percent due to rounding.
21%Mentoring ability
18%Passion
9%Vision
6%Intelligence
What Gen ZersWant in a Boss
Which single characteristic among the following do you most value in a leader/boss?*
7%Compassion
38%Honest/integrity
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Offer ongoing training and learning opportunities. Show them a path to advancement. Embrace diversity in the workplace. Offer performance-based compensation.
Keys to Retaining Gen Z
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of Generation Z feel working with Gen Y will be easy
Integrating Gen Z Into the Office
of Generation Z worry that working with baby boomers will be difficult
79% 45%
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Show them you value their ideas and respect them. Stay up-to-date with technology. Talk to them face-to-face. Give them input and feedback. Be authentic.
Connecting with Gen Z
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Managing A Multigenerational Workforce
Focus on results instead of the process. Foster a culture of communication,
understanding and respect for differences. Encourage mentorship programs. Avoid one-size-fits-all approach. Strive for engaged employees.
© 2017 Robert Half International Inc. All rights reserved.
Key Takeaways for the Multigenerational Team
Common priorities: Professional growth opportunities, stability, good benefits/healthcare
Some generational variations Understand what employees most value Strong future = leveraging the talents of a
multigenerational workforce
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The Industry’s Leading Resource
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How Can We Help?
Let us
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Offer guidance on local hiring trends
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