Career and leadership development portal TaxTalent released its 4th annual Tax Hiring Outlook on Monday, based on a survey of U.S. corporate heads of tax. The Hiring Outlook included 356 total respondents ranging from middle market to Fortune 10 companies. This year, 69% of those surveyed stated they would be hiring in the coming year, representing a 28% increase from the 2014 hiring data.
According to Tony Santiago, president of TaxTalent and TaxSearch, the Hiring Outlook leads to three major factors that are contributing to the increase in this year's projected hires:
- Stronger economic growth in the corporate sector
- Acceleration of retirements by Baby Boomers
- Unexpected turnover
"In 2014, we saw a significant drop in expected hiring from the 2013 data; however our U.S. search and recruiting evidence proved that the 2014 projected hiring downturn was not what actually happened," stated Santiago. "There is strong evidence this year that corporate tax hiring authorities are more in alignment with the current market reality."
In addition to the recent Hiring Outlook, TaxTalent also concluded its three-part webinar series with Financial Executives International on New Drivers for Tax Function Performance. The free webinar was geared towards corporate tax hiring authorities as well as the financial leaders that oversee the tax function.
"The bottom line is, world class tax departments spend the right amount of time and resources to create and foster a culture of career development," stated Santiago. "Best in class tax functions are able to effectively align the career goals and objectives of the individuals to the goals and objectives of their tax department as well as the overall company's strategic objectives. This alignment increases productivity across the board, reduces turnover and makes attracting and recruiting talent that much easier."
To download the full 2015 Tax Hiring Outlook, head to TaxTalent's site here.