Economy-Driven Changes in Recruiting Practices

Essential Recommendations for Accounting Firms

Lisa A. Owens-Jackson, PhD, CPA, and Gwendolyn Highsmith-Quick, PhD, CPA, and Diana R. Robinson, PhD, CPA

In mid-2008, accounting ranked as one of the top five most recession-proof professions in a Jobfox report ("Top 20 Most Recession-Proof Professions," http://www.reuters.com/article/2008/07/14AdUS102886+14-Jul-2008+PRN20080714). But between June 2008 and June 2009, the number of accounting jobs fell by more than 2%, according to the Bureau of Labor Statistics (http://www.bls.gov/oes/2009/may/oes132011.htm). The authors' own interviews with national recruiters revealed that, on many college campuses, accounting firms cut recruiting numbers by as much as 50% over that period. Many large public accounting firms dropped permanent and intern recruiting by 10% to 15%. One firm reported having to rescind offers that had already been extended to and accepted by candidates.