2017 - gfoa.ab.ca€¦ · Positions in Demand 17 1. Payroll Administrator 2. Accounts Payable/...

Branch Manager, EdmontonJenn Embury

2017HIRING AND COMPENSATION TRENDS

Sources of Information

Thousands of full-time, temporary and project placements made by our offices throughout the year

Local insight from our recruiting and staffing experts

Exclusive research we conduct among CFOs, senior managers and employees

A review of actual starting salaries in 2016

An extrapolation of current trends into 2017

The hiring environment Public accounting

Financial services Local trends

Trends Examined

The Hiring Environment

Entry-level upswing

“Pent- up movement”

Interim professionals filling gaps

What employers seek:

Functional skills

Collaborative personalities

Professional credentials

What employers seek:

Functional skills

Collaborative personalities

Professional credentials

Hot Jobs

Financial analystBookkeeperProcess Improvement

SpecialistsPayroll Professionals

Internal auditorSenior accountantAP/AR Technicians

Help Wanted

Companies need individuals proficient with:

Enterprise resource planning (ERP) systems Cloud-based software Hyperion, for financial analysts QuickBooks, for small and midsize businesses

Public Accounting Trends

Hiring at all levels

Tax and audit experience in demand

Compensation rising

Work-life balance initiatives

Local Trends

roberthalf.ca/salary-centreRegion-specific insights on positions in demand and growing industries are available at

Labour Market Trends

The national unemployment rate fell to 6.5% in April 2017, down 2% from March.

Unemployment in Alberta is at 7.9% for April, an 0.5% improvement from March.

Alberta Management Occupations is at a 2.6% Unemployment for April.

Alberta Business, finance and administrative occupations are at 5.2% unemployment for April.

Growth means fewer people looking for work; the unemployment rate in the province was 7.9% in April, down 0.5% from the previous month.

Fastest Growing Industries

1. Real Estate/Property Management

2. Construction

3. Financial Services

1. Government/Public Sector

3. Healthcare

1. Logistics

3. Construction

1. Professional Services

3. Manufacturing

1. Technology

2. Healthcare

3. Construction

3. Professional Services

1. Manufacturing

2. Transportation

3. Agriculture

Positions in Demand

1. Payroll Administrator

2. Accounts Payable/ Accounts Receivable Supervisor

3. Financial Reporting Manager

1. Senior Accountant

3. Controller

1. Senior Accountant

2. Controller

3. Bookkeeper

1. Controller

2. Financial Analyst

3. Accountant

1. Controller

2. Compliance Manager

3. Tax Accountant

1. Controller

Calculating Salaries for Canadian Markets

High and low ends of national

salary rangex

Local variance index number

as a percentage

= Salary Range

Starting salary range for a senior internal auditor at a large company in Edmonton

$92,750 x 1.018 = $94,419.50 (low end)$118,250 x 1.018 = $120,378.50 (high end)

Example:

What Matters to Millennials

Salary is important, but the opportunity for career growth is close behind

Discuss ideal career path Lay out a plan for career growth Promote professional development

Baby BoomersBorn 1946 to 1964

(ages 51 to 69)

Generation XBorn 1965 to 1977

(ages 38 to 50)

Generation YBorn 1978 to 1989

(ages 26 to 37)

Generation ZBorn 1990 to 1999

(ages 16 to 25)

Generation by Generation

Sources: The Changing Workforce: Urgent Challenges and Strategies, 2007, Joe Kristy, Associate partner, Human Capital Management Practice, IBM; Bruce Tulgan, founder, RainmakerThinking

Generation by Generation

Baby Boomers Generation X Generation Y Generation Z

Challenge the rules Change the rules Create the rules Customize the rules

Change = caution Change = opportunity Change = improvement

Change = expected

Guarded communication

Hub and spoke communication

Collaborative communication

Face-to-face communication

Unilateral leadership Coach leadership Partner leadership Teaching leadership

Horizontal problem-solving

Independent problem-solving

Collaborative problem-solving

Entrepreneurial problem-solving

Sources: The Changing Workforce: Urgent Challenges and Strategies, 2007, Joe Kristy, Associate partner, Human Capital Management Practice, IBM; Bruce Tulgan, founder, RainmakerThinking

Who are Gen Zers?

Who areGen Zers?

Digital natives More diverse* More educated*

*Source: U.S. Census Bureau

Gen Zers prefer to deal with their

peers, not authority figures.

Gen Zers prefer to communicate via handheld devices

at work.

Gen Zers prefer to be left alone to

figure out things on their own.

Gen Z: True or False?

Entrepreneurial, innovative and passionate Crave security Strong influence of parents Clear career goals

Common Values

Where do Gen Zers expect to be five years after college?

Career Expectations

24%Working my way up the corporate ladder although not yet among the management ranks

32%Managing orsupervising

employees ina corporateenvironment

20%Starting my own business/being an entrepreneur

9%Pursuing higher education

6%Working for a nonprofit organization

Which of the following best describes where you expect to be in your career in five years out of college?*

CareerExpectations

Do Gen Zers expect to work harder or less hard than past generations ?

Gen Z’s Career Expectations

* Total does not equal 100 per cent due to rounding.

Gen Z’s Career Expectations

Generation Z’s Strengths

Propensity for creativity and innovation Lifelong learning Diverse

Generation Z’s Weaknesses

Soft Skills Gap• Rigorous self-evaluation*• Taking personal responsibility*• Maintaining a positive attitude*• Taking good care of themselves*• Self-presentation*

*Source: Bruce Tulgan, founder, RainmakerThinking

How Gen Zers Wants to Work

Expect to work for many companies Desire a collaborative workplace Prefer face-to-face communication Want a boss who is on their team

What are the growth opportunities? Where does the company fit in my life? Does it align with my personal beliefs and

goals?

Top Job Considerations

Generation Z

$46,779

Top Priorities

What is most important to Gen Z workers in a job?

Gen Z’s Top Priorities

* Multiple responses were permitted.

What are your top three priorities when seeking a full-time job?*

64% Opportunities for

career growth

44% Generous pay

40% Making a difference

or having a positive

impact on society

38% Structured/stable work

environment/job security

25% Good healthcare

benefits/insurance

23% Flexible hours/remote

work options

21% A manager I can learn from

12% Working for a high-profile

company

11% Generous paid time

off/vacation time

9% Philanthropic or social

service opportunities

6% Short commute

3% An impressive job title

Become highly engaged and honest in the hiring process.

Give a realistic job preview. Give examples of personal and corporate integrity

when talking with them. Demonstrate genuine ties to the community and

social responsibility. Hire quickly.

Keys to Recruiting Gen Z

21%Mentoring ability

18%Passion

9%Vision

6%Intelligence

What Gen ZersWant in a Boss

Which single characteristic among the following do you most value in a leader/boss?*

7%Compassion

38%Honest/integrity

Offer ongoing training and learning opportunities. Show them a path to advancement. Embrace diversity in the workplace. Offer performance-based compensation.

Keys to Retaining Gen Z

of Generation Z feel working with Gen Y will be easy

Integrating Gen Z Into the Office

of Generation Z worry that working with baby boomers will be difficult

79% 45%

Show them you value their ideas and respect them. Stay up-to-date with technology. Talk to them face-to-face. Give them input and feedback. Be authentic.

Connecting with Gen Z

Managing A Multigenerational Workforce

Focus on results instead of the process. Foster a culture of communication,

understanding and respect for differences. Encourage mentorship programs. Avoid one-size-fits-all approach. Strive for engaged employees.

Key Takeaways for the Multigenerational Team

Common priorities: Professional growth opportunities, stability, good benefits/healthcare

Some generational variations Understand what employees most value Strong future = leveraging the talents of a

multigenerational workforce

The Industry’s Leading Resource

How Can We Help?

Let us

Help you improve your staffing flexibility by working with highly skilled temporary, full-time and project professionals

Offer guidance on local hiring trends

Review salary information with you

roberthalf.ca/salary-centre

jennifer.embury@roberthalf.comJenn Embury

2017 - gfoa.ab.ca€¦ · Positions in Demand 17 1. Payroll Administrator 2. Accounts Payable/...

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