Accounting and Finance Workers More Likely Than Overall U.S. Workers to Be Confident in Economy, Personal Employment Situation
FT. LAUDERDALE, Fla., November 28, 2005 – The Accounting and Finance Employee Confidence Index, a new measure of overall confidence among accounting and finance workers in the U.S., was 63.8 for the period between August and October 2005, compared to the U.S. Index level of 55.6, according to a recent survey by Spherion Corporation (NYSE:SFN). The quarterly Spherion® Accounting and Finance Employment Report, conducted by Harris Interactive®, finds that 79 percent of accounting and finance workers feel that it is unlikely that they will lose their jobs in the next year. Similarly, 78 percent of the overall U.S. workforce reports that it is unlikely that they will lose their jobs in the next 12 months.
While more of the overall U.S. workforce indicated a desire to look for a new job in the next year, more accounting and finance workers are confident in the future of their employer and ability to find a new job. The Accounting and Finance Personal Confidence Index, a new subscale index measuring accounting and finance workers’ confidence in the future of their current employer and their ability to find a new job, was 77.9, versus the U.S. Index reading of 73.5. The Macroeconomic Confidence Index, a new subscale index measuring accounting and finance workers’ confidence in the availability of jobs and in the strength of the economy, was 49.7 for the last quarter, 11.9 points higher than the U.S. overall level.
“Accounting and finance professionals continue to be in strong demand as corporate initiatives require additional steps in order to meet government regulations,” said Eric Archer, president of Spherion Professional Services. “We are also seeing a strong sense of job security among workers. Employers on the other hand, are seeing talent shortages, as demand overruns the supply of available candidates. Clearly, if this trend continues, companies will have to create additional ways to recruit and retain these workers, as individual workloads expand and the impending labor shortage makes in increasingly difficult to place qualified talent.”
Results from the Spherion Accounting and Finance Employment Report:
Employee Confidence Index: More Accounting and Finance Workers Optimistic
- The latest Accounting and Finance Employee Confidence Index, a new measure of overall confidence among accounting and finance workers in the U.S., was 63.8 in the period from August to October 2005, compared to 55.6 of U.S. workers overall. The quarterly Index, which measures adult workers’ confidence in their personal employment situation and the macroeconomic environment, was higher for accounting and finance workers due to them having a greater propensity of being optimistic about outlook about the economy and about their personal employment situation.
- Macroeconomic Confidence Index Higher for Accounting and Finance Workers: The Accounting and Finance Macroeconomic Confidence Index was 49.7 for the last quarter. This Index level is 11.9 points higher than the U.S. Macroeconomic Confidence Index, because accounting and finance workers are more likely to report confidence in the strength of economy and availability of jobs.
Specific findings from the Macroeconomic Confidence Index include:
- 72 percent of accounting and finance workers believe more jobs or the same amount of jobs are available, compared to 55 percent of U.S. workers overall.
- 29 percent of accounting and finance workers believe the economy is getting stronger, versus 20 percent of U.S. workers overall.
- Personal Confidence Index Drops: The Accounting and Finance Personal Confidence Index was 77.9, compared to the U.S. Index reading of 73.5. Accounting and finance workers are more likely to report confidence in their ability to find a new job than U.S. workers overall.
Specific findings from Personal Confidence Index include:
- 67 percent of accounting and finance workers are confident in the future of their employer, while 64 percent of U.S. workers overall are confident.
- 67 percent of accounting and finance workers have confidence in their ability to find a job, compared to 58 percent of U.S. adult workers overall.
Job Security Index: Nearly 80 Percent of Accounting and Finance Workers Secure in Their Jobs
- 79 percent of accounting and finance workers feel that it is unlikely that they will lose their jobs in the next year, versus 78 percent of U.S. adult workers overall.
Job Transition Index: Fewer Accounting and Finance Workers Planning a Job Search
- 34 percent of adult workers in accounting and finance said they are likely to look for a new job in the next year, compared to 37 percent of the overall U.S. workforce.
About the Spherion Employment Report
As part of the Spherion® Emerging Workforce® Series of employment surveys, the quarterly Spherion Accounting & Finance Employment Report provides a snapshot of the latest workforce trends among accounting and finance professionals across the country. Three key indices are measured: the Spherion Job Security Index, which captures how likely respondents think it is that they will lose their job or that their job will be eliminated in the next 12 months; the Spherion Job Transition Index, which captures how likely respondents are to look for a new job in the next 12 months and the Employee Confidence Index that measures employees’ overall confidence in the economy, their employer and their ability to find other employment. The Employee Confidence Index is calculated from the results of four components that reflect these aspects of employee confidence. For each component item a ‘score’ is calculated by taking the difference of the percentage of positive responses and the percentage of negative responses. These four scores are then averaged to indicate an overall level of employee confidence, with each score ranking on a scale from 0 (no confidence) to 100 (complete confidence). A reading above 50 indicates a positive confidence level.
Methodology
The Accounting and Finance Employment Report is based on data from the Harris Interactive QuickQuerySM online omnibus conducted monthly by Harris Interactive® on behalf of Spherion Corporation.
A U.S. sample of 7,999 employed adults, aged 18 years and older, of whom 358 work in accounting or finance positions, was interviewed in a series of polls conducted between August 3-5, August 8-10, September 7-9, September 14-16, October 4-6 and October 12-14, 2005.Figures for age, sex, race/ethnicity, income, education and region were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting adjusted for respondents’ propensity to be online.
In theory, with probability samples of this size, one can say with 95 percent certainty that the results for the overall sample have a sampling error of plus or minus 1 percentage point. Sampling error for the results of employed adults who work in accounting or finance positions (n=358) is plus or minus 5 percentage points. The online samples are not probability samples.
About Spherion
Spherion Corporation is a leader in the staffing industry in North America, providing value-added staffing, recruiting and workforce solutions. Spherion has helped companies improve their bottom line by efficiently planning, acquiring and optimizing talent since 1946. To learn more, visit www.spherion.com.
About Harris Interactive®
Harris Interactive Inc. (www.harrisinteractive.com), based in Rochester, New York, is the 13th largest and the fastest-growing market research firm in the world, most widely known for The Harris Poll® and for its pioneering leadership in the online market research industry. Long recognized by its clients for delivering insights that enable confident business decisions, the Company blends the science of innovative research with the art of strategic consulting to deliver knowledge that leads to measurable and enduring value.
Harris Interactive serves clients worldwide through its United States, Europe (www.harrisinteractive.com/europe) and Asia offices, its wholly-owned subsidiary Novatris in Paris, France (www.novatris.com), and through an independent global network of affiliate market research companies. EOE M/F/D/V
To become a member of the Harris Poll OnlineSM and be invited to participate in future online surveys, go to www.harrispollonline.com.
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