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Financial contractors to be in high demand?

Contractor accountants and other self-employed financial workers are likely to be in high demand according to one high-profile recruitment specialist.

Robert Half says that, according to its most recent research, nearly nine out of every ten financial companies surveyed are girding their loins for the older generation of workers to transition to becoming pensioners over the next few years. Baby boomers, usually considered to be anywhere between 51 and 69 years of age, are keen to retire soon, and that means there’s going to be a mass exodus of highly skilled and experienced staff members.

So what’s a financial company to do? Well thanks to the skills shortage, it’s going to prove to be next to impossible to source permanent replacements for all these boomers as they move on to greener pastures. Robert Half found that 84 percent of small businesses alone were positively petrified on the impact these retirements would have on their business, while medium businesses are nearly as nervous at 77 per cent. Larger firms are a bit more optimistic – only 69 per cent predicted a negative impact on their business as a result of the swarms of retirees over the next five years or so – but that’s still a rather concerning figure if you ask me.

So what’s a financial company to do? Or any company with a financial department for that matter? Well you do what every other sector has done since the inception of the skills shortage – you straighten out your knickers and get down to the business of finding qualified freelancers and contract workers to fill these incredibly crucial gaps. Contract workers offer high levels of flexibility for employers as they can be hired on a per-project basis, have the requisite skills and experience that are needed to account for the absence of baby boomers transitioning to retirement, and are just better people all-around. They’re better dressed, as well.

All right, I might have made up those last few “facts” myself, but the truth remains that contract workers are likely to be the saving grace for the financial sector over the next two to five years when the slow trickle of retirements becomes a massive deluge. Boomers have put their time in and they deserve a pleasant retirement, so it’s time for freelance financial workers like contractor accountants to step up, take up the slack, and keep the economy humming along as best they can. Take this responsibility seriously and you’re likely to be rewarded with all sorts of excellent projects in the future!

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