Companies reveal that a college diploma may not always be required for new hires in accounting and finance, especially when it comes to functional areas such as accounts payable, accounts receivable, credit and collections, and payroll.
Many executives in the recent Robert Half Finance & Accounting survey also report they’re open to supporting these employees’ ongoing education: 63 percent are willing to provide tuition reimbursement or professional development for new staff members who don’t have a four-year degree.
View a larger version of the above infographic of the functional areas where finance leaders say a college degree isn’t always required and a chart with a breakdown of the results by company size.
The research suggests that large companies (1,000 or more employees; 93 percent) are almost twice as likely as small firms (20-49 employees; 51 percent) to provide tuition reimbursement or professional development to those new hires.
“Given the competitive hiring market and historically low unemployment rates, finding a candidate who checks every box isn’t realistic,” said Steve Saah, executive director of Robert Half Finance & Accounting. “Savvy companies are becoming more flexible in the hiring process, including considering applicants who may not have all the desired education or experience outlined in the job description but possess the necessary soft skills to succeed in the role and fit with the organizational culture.”
Saah added, “Employers that provide education and training offerings could see a number of benefits, including improved recruitment and retention efforts and employees with sharpened skill sets.”