SMEs Aren’t Hiring Finance Professionals

SMEs are hiring but rarely make the call for financial professionals, according to new research from online job hunting site Indeed.

Indeed released data Friday (Nov. 18) that found just 22 percent of job listings for financial professionals were posted by SMEs that had fewer than 150 employees.

“We can see that the demand for finance experts by large enterprises far outstrips that of SMBs,” said Daniel Culbertson, economist at Indeed, in a statement. “Although big companies can typically offer better pay and more perks, there are advantages that SMBs often offer that can be attractive.”

Researchers added that small businesses are more likely to turn to a freelancer when in need of specialty talent, like finance. But it may also be more difficult for a small business to convince a financial expert to join the staff full-time, with Indeed researchers finding that these professionals enjoy higher salaries and other benefits through working at larger firms.

Reports noted that financial professionals, though, can enjoy a more pleasurable lifestyle when working for a small business.

“From less bureaucracy to more autonomy and a bigger role in key decisions that impact the company, there are some advantages that SMBs can highlight to prospective job seekers,” Culbertson added.

News that SMEs rarely seek to hire a full-time financial professional follows separate research released last week by Bank of America. That report revealed that SMEs in the U.S. are especially reliant on friends, family and the broader community for money, financial advice and guidance, which could suggest another reason why so few SMEs seek a full-time financial professional.