In Case You Forgot, the Big 4 Are Hiring a Small Army of People This Year

Posted on April 1, 2011 by Caleb Newquist

CNN/Fortune managed to dig up this corpse of a story: “Bean counters wanted: Why the Big 4 are in a hiring frenzy.” This refers to the hiring bonanza that Deloitte announced last September that was followed by various announcements by the rest of the Big 4:

[T]here’s one unlikely place where the help wanted sign is up, big time: Accounting firms.

Deloitte plans to hire 17,000 professionals in the U.S. and India in 2011, according to Cathleen Benko, its chief talent officer. It’s seeking accountants, auditors, consultants, and IT staff. Hiring is split evenly between experienced and entry-level applicants.

Ernst & Young has stepped up recruiting. It’s looking to hire 7,000 employees from college campuses — 4,500 full-time and 2,500 interns — and 6,000 experienced staff, totaling 13,000 people in 2011, says Dan Black, its director of Americas Campus Recruiting. Experienced staffing is up 80% from last year and campus recruits are up 20%.

Both firms compete for talent against PricewaterhouseCoopers, KPMG, and large consulting firms such as McKinsey and Bain. The hiring confirms a 2011 Bureau of Labor Statistics report that predicted employment in accounting and auditing would spike 22%.

For starters I don’t know why accounting firms are an “unlikely” place for the “help wanted sign” but don’t forget that this is the same outlet that told us that the firms were making money hand over fist back in the Fall of ’09. Also, why CNN/Fortune is now reporting Deloitte’s India’s hiring numbers as part of this story is a little confusing. Plus, if “hiring is split” between experienced and new hires that is a change in the breakdown from what was reported last September. Again, maybe the India numbers change things up a bit and I lost my 10-key long ago.

And we’ll also mention that the E&Y numbers are slightly better than what they initially reported last September so make of all these stats what you will, the rainbow and unicorn PR machine is in full force and CNN is happy to scoop them up spit them out.

Bean counters wanted: Why the Big 4 are in a hiring frenzy [CNNMoney]

PwC Chimes in on How Companies Can Retain Top Talent

Daniel Braddock
May 15, 2010

It was only a few weeks ago when Deloitte threw their two Lincolns into the mix; now it’s PricewaterhouseCoopers offering advice on how to retain workers during this economic recovery. So, in an effort to not play favorites:

1. The financial crisis and ensuing recession have quickened the pace of structural changes already underway in many industries. As companies rethink the way they operate, they should assess the talent pool and look for opportunities to add new skills while keeping their existing employees motivated and engaged.

DWB: Because nothing says your job is safe with us like hiring new workers, right? The cojones on Dubs to lead off with this statement. Essentially Dubs is suggesting that companies poach talent from competitors; the exact action the article is intended to prevent.

2. With budgets expected to remain tight, it makes sense to focus on non-financial incentives such as training and mentoring programs, challenging assignments and other opportunities for growth and flexible work schedules.

DWB: Whoa, whoa, whoa. Did they really just lump (mandatory) trainings and (mandatory) mentoring programs together with “challenging assignments?” Does anyone else think that last one is code for “your staff has been cut in half due to layoffs and departures?” Umm…no…neither did I.

3. This may be obvious, but determine whether your top talent feels well compensated.

DWB: How much does PwC charge to perform that survey?!? It continues:

“By freezing pay across the board or cutting bonuses and benefits during the recession, you may have inadvertently given key employees a reason to leave.”

DWB: Dubs, are you looking in the mirror again? Shameful.

4. To figure out the right mix of incentives, executives need to first determine what motivates their top performers and other key employees.

DWB: Common sense. As an HR professional, statements like three and four really bother me. They only perpetuate the “HR fluff” stereotype that is associated with our field of work. (Some of you might say the same about my posts, so I should probably be careful where I tread.)

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