July 28, 2023

Attracting Top Accounting and Finance Candidates in 2023: A Guide for Companies

Lauren Kemp

As the business landscape evolves, so do the expectations and priorities of high-level accounting and finance candidates. In 2023, top talents, such as Chief Financial Officers (CFOs) and Senior Accountants, are seeking more than just competitive compensation. They now consider a range of factors, including work-life balance, company culture, career growth opportunities, and environmental impact. To attract the best candidates, companies need to understand and adapt to these changing demands. In this article, we will explore the key factors that accounting and finance professionals are looking for in a job in 2023 and how organizations can position themselves as ideal employers.

1. Competitive Compensation and Benefits

While it may seem like an obvious factor, competitive compensation and benefits packages remain crucial in attracting top accounting and finance candidates. However, it's essential for companies to tailor these packages to the needs of each candidate. The trend in 2023 is towards personalized benefits, such as flexible working hours, remote work options, and wellness programs that prioritize physical and mental health. According to a Glassdoor survey, 67% of job seekers listed health insurance as the most important benefit when evaluating job offers. The Mercer 2023 Global Talent Trends Report shows that 82% of employees consider competitive compensation as a significant factor in their job search.

2. Career Growth and Development

High-level accounting and finance professionals are ambitious and seek career growth opportunities. In 2023, candidates are increasingly prioritizing companies that invest in their employees' development through continuous learning programs, mentorship, and chances for advancement. Demonstrating a clear path for professional growth within the organization can be a powerful incentive for top talent to choose one employer over another. A LinkedIn Workforce Report revealed that 94% of employees would stay longer at a company if it invested in their career development. The Global Talent Trends Report by LinkedIn states that 87% of millennials and 69% of non-millennials consider career development opportunities as a critical factor in their job search.

3. Technological Advancements

Technology has revolutionized the accounting and finance industry, and candidates expect their potential employers to be at the forefront of these advancements. In 2023, top candidates are looking for companies that leverage automation, artificial intelligence, and data analytics to streamline processes and enhance decision-making. A study by Deloitte found that 70% of finance leaders plan to increase their investments in advanced technologies, such as AI and automation, by 2023. The Association of Chartered Certified Accountants (ACCA) reports that 75% of CFOs believe technology will have a significant impact on their roles in the coming years.

4. Ethical and Sustainable Practices

Environmental and social responsibility are no longer just buzzwords; they are critical factors in attracting high-level candidates. In 2023, CFOs and Senior Accountants prioritize employers with strong ethical values and a commitment to sustainability. Companies that demonstrate responsible business practices and contribute positively to their communities are more likely to attract top talent. A survey by Cone Communications found that 87% of consumers would purchase a product or service because a company advocated for an issue they cared about. A PwC survey revealed that 65% of CFOs believe environmental, social, and governance (ESG) initiatives are essential to their company's long-term success.

5. Work-Life Balance

Work-life balance has become increasingly important in recent years, and this trend continues in 2023. High-level accounting and finance candidates are seeking employers that promote a healthy work-life balance, allowing them to fulfill their professional responsibilities without compromising their personal lives. Offering flexible work arrangements and fostering a supportive culture that encourages employees to prioritize their well-being can make a significant difference in attracting top talent. A study by FlexJobs indicated that 82% of finance professionals say work-life balance is a significant factor when considering a job. The 2023 State of Remote Work report by Buffer found that 77% of employees would be more likely to accept a job if it offered the option to work remotely at least some of the time.

6. Diversity and Inclusion

Diversity and inclusion have become critical components of a positive work environment. In 2023, candidates are actively seeking companies that prioritize diversity in their workforce and foster an inclusive culture. Employers that celebrate individual differences and create a sense of belonging are more likely to attract top talent from diverse backgrounds. The Diversity and Inclusion Recruiting Survey by Glassdoor discovered that 67% of job seekers consider workforce diversity a crucial factor when evaluating job offers. McKinsey's research shows that companies in the top quartile for gender diversity are 25% more likely to have above-average profitability.

7. Strong Company Culture

Company culture plays a crucial role in attracting and retaining top talent. In 2023, high-level accounting and finance candidates are looking for organizations that have a positive and collaborative work culture. A culture that emphasizes open communication, teamwork, and recognition of achievements can make a significant impact on a candidate's decision to join a company. A CultureIQ study revealed that 92% of finance professionals believe that a strong company culture is essential to business success. The Harvard Business Review found that companies with a positive culture experience a 20% increase in productivity and 28% higher revenue growth.

8. Opportunities for Impact

Top accounting and finance professionals seek roles that allow them to make a meaningful impact. In 2023, candidates are looking for employers that align with their values and offer opportunities to contribute to significant projects and strategic decision-making processes. Highlighting the potential for candidates to make a difference within the organization can be a compelling factor in their job search. The Deloitte Global Human Capital Trends report found that 73% of employees are more engaged when they believe their work has a positive impact on society.

In 2023, attracting high-level accounting and finance candidates, such as CFOs and Senior Accountants, requires a comprehensive approach that goes beyond traditional compensation packages. Companies can aim to offer personalized benefits, prioritize career growth, embrace technology, promote ethical and sustainable practices, and foster a supportive work culture to secure high-level talent. Moreover, employers that champion diversity and inclusion and provide opportunities for candidates to make a meaningful impact are likely to stand out in the eyes of top talent. By understanding and adapting to these changing preferences, companies can position themselves as employers of choice and secure the best accounting and finance professionals for their teams.