Posted by Lisa Amstutz on Thursday, April 17, 2014 - 00:00 |
How much does a month of lost work cost companies in productivity, business opportunities, morale and revenue? Many hiring managers may be finding out the hard way, research suggests.
According to new survey results published today from Robert Half Finance & Accounting, it takes an average of four weeks to fill open staff-level accounting and finance jobs and five weeks for management-level positions.
But hiring managers need to move fast not only because it can be challenging to be short-staffed during that stretch, but because top candidates are often snapped off the market in less than 30 days.
The research highlights, published in a press release titled The Longest Month: Robert Half Survey Finds It Takes CFOs Average of Four to Five Weeks to Fill Finance Positions, looks at why having a pipeline of potential candidates in the hopper can speed up the process and get the right person for the job started sooner. The full press release is posted below:
MENLO PARK, Calif., April 17, 2014 -- Four weeks is a long time to be short-staffed, but that's what it takes, on average, to fill open staff-level accounting and finance jobs, according to a new survey of chief financial officers (CFOs). The Robert Half Finance & Accounting research also found it takes an average of five weeks to hire for a management-level position.
The survey was developed by Robert Half Finance & Accounting, the world's first and largest specialized financial recruitment service, and conducted by an independent research firm. It is based on interviews with more than 2,100 CFOs from a random sample of companies in more than 20 of the largest U.S. markets.
CFOs were asked, "On average, how many weeks does it typically take to hire for an open staff-level accounting or finance position?" The mean response was four weeks.
CFOs also were asked, "On average, how many weeks does it typically take to hire for an open management-level accounting or finance position?" The mean response was five weeks.
"To find and keep great people, companies need to make recruitment an ongoing priority, even if they are not actively looking to hire," said Paul McDonald, Robert Half senior executive director. "A pipeline of potential candidates can speed up the hiring process and prevent problems associated with being short-staffed, like burnout of key employees."
McDonald added that working with a specialized recruiting firm can accelerate the hiring timeline. "Recruiters have access to hard-to-find candidates, including professionals who are not actively looking for a new job but ready to make a move for the right opportunity," he said.
About Robert Half Finance & Accounting
Founded in 1948, Robert Half Finance & Accounting, a division of Robert Half, has more than 330 locations worldwide and offers online job search services at roberthalffinance.com. For finance and accounting career and management advice, follow our blog at blog.roberthalffinance.com.