Finance and Accounting Q2 Employee Confidence Index Decreases Following 4-Year High
BOSTON, Aug. 15, 2012 -- The Mergis Group Finance and Accounting Employee Confidence Index, a measure of overall confidence among U.S. finance and accounting workers, decreased 5.2 points to 52.6 in the second quarter of 2012, after reaching its highest level in four years in the first quarter of 2012. The Mergis Group survey, conducted online by Harris Interactive® among 184 employed finance and accounting workers, reveals a decrease in confidence around the strength of the economy and availability of jobs. Conversely, workers' sense of job security in their current positions remained strong.
"The decline in employee confidence during the second quarter appears to be in response to global economic uncertainty emanating from Europe as opposed to material deterioration in personal economic conditions," said Steve McMahan, executive vice president of Randstad US, Professionals. "This would seem to be borne out by the fact that slightly more workers feel secure in their current positions. Steady improvements are being made in the finance and accounting labor market and the longer term outlook is bright. In fact, the Bureau of Labor Statistics projects the financial specialist occupational group, which includes accountants, auditors, loan officers and financial analysts, to grow 16 percent and add 421,100 new jobs between now and 2020. Currently, we are seeing growing demand in a number of areas, including senior financial analysts within the alternative fund and banking industry, mortgage loan officers, and finance directors within the consumer products, healthcare, and oil and gas industries, to name a few."
Q2, 2012 Survey Highlights:
More Finance and Accounting Workers Believe the Economy is Weakening
- Thirty-eight percent of employees believe the economy is getting weaker, an increase of 17 percentage points from the first quarter of 2012.
More Than Half of Finance and Accounting Workers Believe Fewer Jobs are Available
- Only 21 percent of finance and accounting employees believe that job availability has increased, representing no change from the previous quarter. However, more than half (53 percent) believe that fewer jobs are available.
Fewer Workers are Confident in Their Ability to Find New Jobs
- Forty-two percent of workers are confident in their ability to find a new job, a decrease of seven percentage points from first quarter of 2012.
Slightly More Workers Secure in Current Positions
- Seventy-four percent of workers feel it is not likely they will lose their jobs (versus 73 percent in the previous quarter).
The Finance and Accounting Confidence Index supplies insights into employee attitudes and sentiment around the economy, job market, job security, employers and in their ability to find a new job. Together with other economic indicators, employers can use this report to assess the overall health of the finance and accounting industry and their workforce.
This survey was conducted online within the United States by Harris Interactive on behalf of The Mergis Group from April 10-12, May 16-18 and June 11-13, 2012, among 3,790 adults ages 18 and older, of which 184 are employed in finance and accounting. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
About The Mergis Group
The Mergis Group is a leading professional placement firm that specializes in recruiting for positions in finance and accounting, engineering and manufacturing, sales and marketing, legal and human resources. The firm provides recruiting services to Fortune 500 and small and mid-sized companies through its network of 35 offices nationally. The Mergis Group is a now a part of Randstad. For more information, please visit www.mergisgroup.com.
Randstad is a $22.5 billion global provider of HR services and the second largest staffing organization in the world. From temporary staffing to permanent placement to inhouse, professionals, search & selection, and HR Solutions, Randstad holds top positions around the world and has approximately 28,700 corporate employees working from its nearly 4,700 branches and inhouse locations in 40 countries. Founded in 1960 and headquartered in Diemen, the Netherlands, Randstad Holding nv is listed on the NYSE Euronext Amsterdam.
Learn more at www.randstad.com.