Economy-Driven Changes in Recruiting Practices

• Published in: The CPA journal (1975) 2013-07, Vol.83 (7), p.68
• Main Authors: Owens-Jackson, Lisa A, Highsmith-Quick, Gwendolyn, Robinson, Diana R
• Format: Article
• Language: English
• Subjects: Accounting firms; Athletic recruitment; Big Four accounting firms; Candidates; Careers; College campuses; Colleges & universities; Employees; Employers; Guidelines; Hiring; Internships; Interviews; Military recruitment; Professions; Recessions; Student retention; Success; Workforce planning
• ISSN: 0732-8435

In mid-2008, accounting ranked as one of the top five most recession-proof professions in a Jobfox report. But between June 2008 and June 2009, the number of accounting jobs fell by more than 2%, according to the Bureau of Labor Statistics. During the economic downturn, the recruiting and hiring process was characterized by multiple qualified candidates vying for every open position. These recruiting challenges led large and small CPA firms to change their hiring practices. This article's authors discussed hiring practices with three national recruiting managers at three Big Four accounting firms, six Big Four regional recruiters, recruiting directors at two large national firms and three regional firms in the US. Their insights can provide public accounting firms, corporations, and governmental agencies with advice on how to improve the recruiting process. These are: 1. Use assessment measures to direct recruiting efforts. 2. Use internship programs to feed permanent hires. 3. Build long-term relationships with universities. 4. Increase minimum interview standards and apply consistently.