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Accounting and Recruitment Trends to Watch in 2018

Accounting and Recruitment Trends to Watch in 2018

2017 saw many advancements in both the worlds of accounting and recruitment, and with the introduction of new technologies and innovations, these changes show no sign of slowing down. Any business that wants to stay ahead in 2018 must adjust their business and recruitment models to embrace these accounting and recruitment trends.

Top accounting trends in 2018

 

  • Cloud-based accounting continues to grow

Cloud-based technology is fuelling advancements in the accounting world by helping businesses reduce their software costs while still remaining competitive. The immediate real-time access to accounting information has enabled faster decision-making and allowed accounting firms like GGD to provide better and more personalised financial information to their clients.

The immediate benefits financial and accounting companies are experiencing include increased flexibility, with data accessed from the cloud on any device, and seamless integration experiences between systems.

According to Accenture Research 85% of CFOs say they plan to increase their investment in the cloud in the next two years, and over a third expect the investment to increase by over 25% during that time.

  • Tailor-made client service offerings

The way services are being offered to clients in the Accounting Sector are becoming more personalised, embracing current technology in order to assist clients with solving complex problems.

At GGD we don’t just provide clients with innovative software, we also offer an experienced consultation service that includes software installation, training and on-going support. For more information about our customised software packages that are tailored to your individual business needs, contact us today.

  • The growth of automation in accounting

Automation is transforming the accounting profession. The data entry component of accounting has nearly been eliminated through automation in cloud accounting ecosystems. Automation is also escalating decision-making processes in business and prioritises what work needs to be done.

For example, Xero HQ features an Activity Feed, which helps users know which clients have work that is a priority such as upcoming payroll deadlines or accounts that haven’t been fully reconciled.

  • The rapid adoption of outsourced accounting

Businesses are realising that with the rise of the Internet and Cloud Technology, they can outsource their accounting to firms across the globe. In addition, collaborative technology like Slack and Skype for Business are allowing accountants to adopt closer relationships with clients, even if they are thousands of kilometres away.

Today Slack users spend over 100 million hours on it monthly to conduct business. These chat platforms speed up communication and facilitate more real-time interaction, enabling the flow of information and advice between accountants and their clients to happen at a much faster pace.

Top recruitment trends in 2018

 

  • The growth of predictive analytics

Predictive analytics is allowing recruiters to predict, with a fair amount of accuracy, which candidate out of hundreds of applicants will be the best fit for a specific organisation. The rising use of predictive analytics is the biggest recruiting trend to drive productivity and profitability in 2018.

Not only can the data be used to hire employees, but the data can also be used to create employee development plans to ensure their strengths are correctly utilised once they start in their new position. At GG Recruitment, we have exclusive access to the online Workio platform, which enables us to accurately assess candidates and predict the companies where they will thrive.

  • Diversity hiring

Discrimination in the workplace is nothing new. However companies are becoming increasingly enlightened and 2018 looks set to be the year where organisations will see the need to encourage and incorporate diversity in recruiting. The wisest recruiters realise that true diversity is about embracing the concept of inclusivity, and understand that a diverse workforce not only enriches a company’s workplace but also enhances productivity and grows the bottom line.

  • The rise of talent mapping

Companies are realising that they can no longer have knee-jerk reactions to recruitment – only hiring when someone resigns or a lack of required skills becomes apparent.

Talent mapping, which is the process of linking talent management with strategic workforce planning, is predicted to become a top trend in 2018. This involves managing the balance between an organisation’s existing supply of high-performance talent and the need for different skills and qualities as the business grows and changes.

The organisations that go the extra mile to talent map are the ones that ensure they are equipped for future change. At GG Recruitment we work closely with all companies, helping them to identify their talent needs and ensure that they remain competitive as their businesses grow.

Get 2018’s accounting and recruitment trends working for you

 

The GGD Group is committed to embracing the very latest accounting and recruitment trends to ensure our clients achieve their business objectives. Our established reputation for service excellence ensures we are able to offer every client leading, tailor-made accounting and recruitment solutions. For more information, contact us today.

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