COVID-19 put a quick halt to the entire world. While people and businesses experienced extending periods of uncertainty, everyone had to quickly adapt. COVID was a direct shock to the economic system and, just like most industries, the finance and accounting industries had to adjust as well.
Financial institutions and services had to adjust shift focus to what matters now. This included adopting human-centered practices, investing in stable growth and development, integrating more technology, diversity, reward strategies and optimizing workforce productivity.
A huge change that the industry was introduced to was different talent trends. More than every workplace needs employees and leaders who act with flexibility and innovation, even though we are two years into COVID-19, no industry has yet to be stabilized. Other important aspects that are being focused on are:
Top Finance And Accounting Jobs
With the pandemic still lingering on, all job positions have seen highs and lows. Currently, the most in-demand finance and accounting jobs according to LinkedIn are:
- Accounting Manager
- AR/AP Roles
- Financial Analyst
- Internal Auditor
- Loan Administrator
- Payroll Manager
- Staff/Senior Accountants
The Value of Soft Skills
Soft skills have always been important but always took the backseat to hard skills but as finance teams adjust to the urgency of change in an ever-changing economy, soft skills can prove to be critical to remain a customer-oriented business. Desired soft skills currently include: the ability to work independently, empathy, meticulous, commitment to learning, ability to change, creativity, customer service skills, problem-solving and writing/verbal skills.
Working from home is the new norm for a lot of organizations. While not all organizations offer WFH, it is becoming increasingly important when individuals begin job hunting with people emphasizing, they would like remote work or hybrid schedule.
The Need for Tech-Savvy Workers
Technology is rapidly growing and while organizations have already been incorporating more technology to their day-to-day business, the impact of COVID-19 put a rush on it. While adapting to a more remote workplace, organizations had to incorporate automation, collaboration and communication programs, machine learning, cloud computing and predictive analytics.
When choosing candidates, organizations are now looking past basic computer and accounting knowledge in exchange for proficiency in data science, automation, all cloud-based systems and software, predictive modeling, risk management, remote business management, and digital communication tools.
Adoption of Technology
The finance and accounting industry was already adopting newer pre-pandemic technology, but this was significantly accelerated when COVID-19 first hit. While most organizations have already integrated cloud systems there was a greater need for collaboration software, AI systems, communication software, video software and remote program management software. Any software that was needed to run an organization from anywhere, had to be implemented to stay afloat. These practices only enhanced organization and customer-experience, making them now staples in day-to-day business practices.
Better Salary and Benefits
As we reach two years in the pandemic, pay and benefits are top priority for any looking for a new job. Steady pay and other benefits such as health/dental/vision/disability insurance, retirement saving plans, flexible schedules, life insurance, PTO, employee discounts and paid parental leave are enticing to potential candidates and even can help keep employees there longer. With the uncertainty that lays ahead, the one thing employees need to count on is a job that can offer them and their families the stability everyone craves.
As we move forward from the initial pandemic, still in uncharted waters, we see new emerging trends to help industries adapt and stay ahead frequently. The above mentioned trends are predicted to become business norms post-pandemic due to many benefits it brings to the organization, employees, and clients alike.