Finding a Staff Accountant Job During an Economic Crisis
Are you searching for a new staff accountant job? With the current economic crisis, brought on by a global pandemic, you may be worried about your chances of landing a new role.
News reports constantly remind you that unemployment in the US is reaching peak levels, which can reinforce the negative attitude you have towards your job hunt.
But are things really that bad? Not all industries have been treated equally by the economic crisis, and accountants hold essential roles in most organizations.
Here are some key reasons why you shouldn’t worry about the high unemployment when looking for a new job in accounting, and some tips to help you adjust your job search for a COVID-19 world.
Accounting Jobs Are Always in Demand
Accounting holds a key department in many businesses. Staff accountants are essential for any business that wants to keep its finances in order (which should be all of them).
Consequently, accounting roles hold a bright spot in an otherwise gloomy job market. Staff accountants help small businesses and large enterprises alike maintain their financial compliance and business finances. They are essential to financial performance, identifying cash flow issues and processing financial procedures. Even during an economic downturn, these things are essential and beneficial to all businesses.
The Workforce is Aging
However, the financial services industry is experiencing high levels of employees nearing retirement. The accounting profession is not spared in this demographic.
Despite the economic downturn caused by coronavirus, the demand for accountants is set to trend upwards on a steady path of jobs growth. The Bureau of Labor Statistics forecasts that there will be more than 61,000 new accountant jobs created between 2019 and 2029.
Additionally, according to Accounting Today, around three quarters of current certified public accountants will be ready to retire by 2030. This will create a huge influx of jobs and leave many businesses chomping at the bit to hire new accountants into their teams.
Searching for a Staff Accountant Job During COVID-19
Unemployment in the US may be rising, but that doesn’t mean the job outlook is bleak for all careers. When considering the number of accountants retiring during the next ten years, the demand for talented accountants is likely to remain strong for many years.
However, the current pandemic means you may have to switch tactics from your traditional job search. Some tips for looking for a staff accountant job during COVID-19 include:
- Remote Networking: In-person networking has become difficult, if not impossible. You may be working from home, and any networking or industry events may have been canceled. Remote networking can be an effective alternative. Focus on building your LinkedIn profile. Start joining tax and accounting groups (and contributing to them), and building a network with hiring managers, recruiters, and colleagues in the industry.
- Communicate: If you are working from home, or have been made redundant, it can be easy to shut yourself off and stop communicating with colleagues and your industry connections. Fire off some emails to people you work with and keep open lines of communication with your contacts. This way, you will be updated when new openings are available in their company.
- Be Open to All Opportunities: While high unemployment does not mean you can’t find a job, it does mean you may have to adjust your expectation. However, don’t take a job that will make you unhappy or with a company whose values do not align with yours. Do accept that you may need to be less picky as there will be high competition for jobs.
- Use a Specialist Recruiter: Find a recruiter that specializes in staff accounting jobs. They will have access to a network of employers and be aware of companies that are hiring away from jobs boards. They can also give you tips for interviewing due to their inside knowledge with the employer and will help find you a role that suits your skills and where you will fit the company culture.
To Sum Up
The current high unemployment in the US may be putting a downer on your job search. However, the outlook for accountants is good, and the need for talented accountants is always strong. Businesses always need appropriate and accurate financial advice. Attractive jobs are available.