1 / 33

NYSSCPA: Northeast Chapter CFO Committee

NYSSCPA: Northeast Chapter CFO Committee. Accounting Staffing Industry Trends for the Capital Region Presented by Kevin W. Sweet, MBA February 24, 2010. Table of Contents. Background Job Growth Demand versus Supply Capital District Economy Stability Unemployment

rufina
Download Presentation

NYSSCPA: Northeast Chapter CFO Committee

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. NYSSCPA: Northeast Chapter CFO Committee Accounting Staffing Industry Trends for the Capital Region Presented by Kevin W. Sweet, MBA February 24, 2010

  2. Table of Contents • Background • Job Growth • Demand versus Supply • Capital District Economy Stability • Unemployment • Companies driving job growth and investment • Incentive Programs • Methods to acquire talent • Introduction of NESCO • Questions and Answers

  3. Background on Kevin W. Sweet, MBA • Born and lived in Upstate, NY for 25 years • Undergraduate degree in accounting from The College of Saint Rose, Albany, NY • Masters Degree from Baldwin-Wallace College, Berea, OH • Have been in the Staffing Industry for over 13 years with progressive leadership and responsibilities. • Successfully started 8 new offices in AZ, CA, MA, NC and NY • Recipient of prestigious President’s Club award with both NESCO and another International Staffing Company . • Personally reached the Million Dollar milestone with NESCO and three Million Dollar milestone with another International Staffing Company

  4. Job Outlook – Accountants and Auditors • US. Bureau of Labor Statistics – Occupational Outlook Handbook 2010 – 2011 Edition • Accountants and Auditors held 1.3 million jobs in 2008 • Much faster than average employment growth from 2008 – 2018 • Expected growth 22% or 279,400 jobs

  5. Job Outlook – Bookkeepers, Accounting and Auditing Clerks • US. Bureau of Labor Statistics – Occupational Outlook Handbook 2010 – 2011 Edition • Held 2.1 million jobs in 2008 • About as fast as the average employment growth from 2008 – 2018 • Expected growth 10% or 212,400 jobs

  6. Job Outlook – Finance Managers • US. Bureau of Labor Statistics – Occupational Outlook Handbook 2010 – 2011 Edition • Held 540,000 jobs in 2008 • As fast as the average employment growth from 2008 – 2018 • Expected growth 8% or 41,200 jobs

  7. Long-Term Occupational Projections (2006-2016) Top 25 Most Openings Capital District Region • Bookkeeping, Accounting, and Auditing Clerks • Office Clerks, General • Accountants and Auditors • Information gathered from the New York State Department of Labor (www.labor.state.ny.us)

  8. Demand versus Supply • Low Birth rate – Generation X - 1960 – 1980’s approximately 43 million births • College Enrollment • Beginning in 1997 states started to require 150 semester hours to be eligible for the CPA examination (excluding CA, CO, NH and VT) • 1995 / 1996 – 60,000 accounting graduates and 192,000 enrolled in accounting programs • 1998 / 2000 those numbers dropped by 20% 47,000 accounting graduates and 148,000 students enrolled in accounting programs

  9. Accounting Degrees Awarded 1971-72 through 2007-08

  10. Demand versus Supply continued • Sarbanes-Oxley Act of 2002 • Created additional jobs • Created a renewed interest in accounting • Increase in Accounting enrollment and graduates • International Financial Reporting Standards (IFRS)

  11. Accounting Enrollment by Program

  12. Economic Stability in the Capital District Area • State and Local Government • Education • Healthcare • Service industries • Restaurants • Food Stores • Law Firms

  13. Unemployment • The Unemployment rates are less than the national rate 9.7% and NYS rate 9.0% - Dec ‘09 • Unemployment rates tend not to have the highs and lows like the rest of the state and nation • As of November 11, 2009 the US Bureau of Labor Statistics indicated the following unemployment rates for the key counties of the Capital District Region • Albany 7.1% • Columbia 7.7% • Rensselaer 7.7% • Saratoga 6.4% • Schenectady 7.8%

  14. Unemployment Continued • During the last major recession in 1992, the current unemployment rates are almost identical • Albany 7.1% (September 2009) vs. 5.7% - 1992 • Columbia 7.7% (September 2009) vs. 7.1% - 1992 • Rensselaer 7.7% (September 2009) vs. 7.5% - 1992 • Saratoga 6.4% (September 2009) vs. 7.1% - 1992 • Schenectady 7.8% (September 2009) vs. 7.2% - 1992 • From 1994 – 2008 the unemployment rates for the five key counties that make up the Capital District Region only fluctuated between 3 – 6%. US Bureau of Labor Statistics

  15. Other Important Companies Driving job growth & investments in the area • General Electric • Research and Development • Health Care • New 230,000 sq. ft. Rensselaer Technology Park • Wind Generation • Albany Molecular Research • Albany Medical Center and College • Fischbach USA – Northeast Industrial Park • Time Warner Cable – Renovated Washington Ave Ext. facility to add 170 new jobs

  16. Other Important Companies Driving job growth & investments in the area • Luther Forest Technology Campus • GlobalFoundries • The College of Nanoscale Science and Engineering • Sematech • M&W Group

  17. Incentive ProgramsNew and Existing Businesses • The Albany Local Development Corporation (ALDC) - Provides financing and business development servicesto new and existing businesses in the City of Albany. • The City of Albany Empire Zone Program offers state and local tax benefits for businesses that are starting-up or expanding within targeted areas of the City of Albany. • The City of Albany Industrial Development Agency (AIDA) offers business financial incentives to cover the cost of growth of expansion • Department of Economic Development • Low interest rate loans • Property tax abatements • Job training assistance • Tax credits

  18. Incentive ProgramsNew and Existing Businesses • Albany-Colonie Regional Chamber of Commerce • Finance programs • Loan funds • Empire State Development Corporation • Low Interest loans and guarantees • Tax credits, deductions, exemptions and write-offs

  19. Top 10 Methods to acquire talent Number 10 Your Own Personal Network

  20. Top 10 Methods to acquire talent Number 9 Employee Referrals

  21. Top 10 Methods to acquire talentNumber 8 Online Social Networks – LinkedIn and Facebook

  22. Top 10 Methods to acquire talent Number 7 Company Website

  23. Top 10 Methods to acquire talent Number 6 Conference and Trade Shows

  24. Top 10 Methods to acquire talent Number 5 Hire from pool of interns or temporary employees

  25. Top 10 Methods to acquire talent Number 4 Colleges or Universities

  26. Top 10 Methods to acquire talent Number 3 Online Job Boards – CareerBuilder, Monster and Yahoo HotJobs

  27. Top 10 Methods to acquire talent Number 2 Professional Associations, Trade Magazines and Niche Websites

  28. Top 10 Methods to acquire talent Number 1 Call a Specialized Recruiter at

  29. NESCO Company Overview • Established in 1956 • Headquartered in Cleveland, OH • 33 offices in 14 states • Four specialized divisions • Accounting & Finance • Engineering & Information Technology • Clerical & Light Industrial • Call Center Solutions • Services available

  30. NESCO Company Overview • Services Available • Direct Hire • Temporary • Temporary-to-Hire • Retained Search • Payroll Services • www.nescodirect.com • www.nescoresource.com

  31. NESCO Company Overview • Albany office • 15 British American Boulevard • Latham, NY 12110 • 518-220-2560 • Kristie Moon • Kevin W. Sweet, Vice President • 2 Summit Park • Suite 200 • Independence, OH 44131 • 216-328-8168 ext. 225

  32. Question and Answers

  33. Resource References • www.aicpa.org • www.bls.gov • www.city-data.com • www.labor.state.ny.us • http://Albany.bizjournal.com/albany • www.staffingindustry.com

More Related