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Temporary Employment Numbers on the Rise

09/24/2018  |  By: Britt Cumbie, CPA, Director of Contract Accounting Services

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Low unemployment in Nashville, especially related to accounting and finance jobs, has resulted in an increase in temporary/contract placements. The labor supply has shrunk, resulting in a rise in candidates being recruited out of positions and the lengthening of the time it takes to re-hire for certain skilled roles. Not only is the shrinking labor supply causing increased search time, but we are also seeing a spike in counter offers and sought out candidates receiving multiple offers. All these trends make it very difficult to hire the right permanent candidate quickly. Because of the longer hiring time frame, clients are increasingly bringing in temporary resources to cover the gap while they conduct searches to find that “best” matched candidate for their long-term role.

A few additional trends we are seeing include:

  • an increase in temp-to-perm conversions, meaning some consultants start out on a pure temporary project, but clients are finding a longer-term spot for these resources within the organization and converting them over to their full-time payroll;

  • less emphasis on specific accounting software experience with more emphasis on Excel skills, with a focus on proficiency with pivots and look-ups at a minimum; and

  • greater consideration and acceptance of part-time hours.

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Temporary Employment Numbers on the Rise