Employers are increasing salaries and bonuses as a way to attract and retain top talent in this challenging hiring landscape. However, even though offering a more generous compensation package can provide employers a competitive advantage, it does not solve the basic supply-and-demand challenge many companies face when trying to fill open roles.
That’s one of the reasons employers make consultant jobs a part of the overall staffing management plan for their accounting and finance organization. Businesses large and small are finding that many positions don’t require a full-time hire and are better covered by interim team members, such as consultants.
They are also engaging expert consultants for special projects requiring hard-to-find subject-matter expertise and other critical initiatives of limited duration. Some rely on interim management consultants during a lengthy hiring process. And many businesses now look to managed business services providers to provide teams of specialized consultants to handle a wide range of accounting and finance challenges, from revenue cycle improvement to post-acquisition financial integration. (You can learn more about managed business services in this post.)
Following is a quick overview of in-demand roles featured in the latest Salary Guide that could also be consultant jobs.
Chief financial officer
In recent years, many CFOs have seen their influence expand beyond the accounting and finance function. As the CFO’s role continues to increase in importance in many organizations, starting compensation for this role is growing, too, according to research for the Salary Guide.
To find out what skill and abilities are needed for this senior-level finance role, see this post.
When fast-growing companies realize it’s time to take a more strategic approach with their finances, many decide to bring on a finance director to help them set long-term business goals.
Read more about the requirements for this challenging position here.
Companies need senior accountants to handle everything from preparing budgets to reconciling account balances. The Salary Guide reports that many employers specifically seek senior accountants who have strong general accounting abilities, proficiency with Excel and excellent soft skills.
For more insight on the types of nontechnical abilities needed for today’s accounting and finance jobs, in general, check out this post.
Financial and business analysts
Organizations need financial analysts and similar specialists to help them identify opportunities to reduce expenses and increase sales and profits. Financial analyst will be one of the hottest positions in the accounting and finance profession next year, too, according to the guide.
To determine if you have the skills needed to work in financial consulting, read this post.
With regulatory compliance demands on the rise, many organizations, especially financial institutions, are bringing in compliance experts to offer objective evaluations of their operations. Consultants with compliance expertise can help recommend ways to improve compliance processes and keep related expenses in check.
Learn more about the role of the compliance officer here.
The increasingly complex regulatory environment is also driving demand for internal auditors. Another factor: Companies are launching new revenue-generating initiatives and need internal auditors to help them assess and monitor the risks of these new ventures.
See this post for more insight on internal audit hiring and salary trends.
Download the 2019 Salary Guide
The 2019 Robert Half Salary Guide for Accounting and Finance Professionals can be useful to consultants who want to track general compensation trends for their industry and learn about the attributes and credentials that today’s employers want most.
This post has been updated to reflect more current information.