Kevin Mooney Division Director Management Resources Hello. I’m Kevin Mooney - I’m pleased to join you today from Robert Half Management Resources. Today, I’ll be talking to you about hiring and compensation trends in accounting and finance. Our findings are based on research we conducted for the 2016 Salary Guide from Robert Half, one of the many value-added resources we make available to businesses and finance, accounting and business systems professionals. Our new guide includes starting salary information for more than 400 finance, accounting and business systems positions. Kevin Mooney Division Director Management Resources

Sources of Information Thousands of full-time, interim and project placements made by our offices throughout the year Local insight from our recruiting and staffing experts Exclusive research we conduct among CFOs, senior managers and employees A review of actual starting salaries in 2015 An extrapolation of current trends into 2016 Our findings on compensation reflect data provided by our recruiting and staffing professionals throughout the United States, based on their intimate knowledge of their hiring markets and the thousands of full-time and interim placements they have made during the year. Our guide is widely used by employers, job seekers, academic institutions, professional associations, the media and government agencies. In fact, research entities such as the Bureau of Labor Statistics have consulted our Salary Guide for comprehensive compensation and hiring information. We also conduct research on workplace trends that could impact salaries, and we survey chief financial officers, senior managers and employees on current issues. We reviewed actual starting salaries from 2015 and predicted compensation trends for 2016. 2

Trends Examined The hiring environment Public accounting Financial services Healthcare-related hiring Local trends Succession planning In conducting our research, we analyzed several important trends in the profession. Today, we’ll be examining: The hiring environment An overview of trends specific to public accounting and financial services Trends in the healthcare field affecting financial hiring Local hiring trends The need for companies to focus more on succession planning 3

The Hiring Environment So let’s take a look at the hiring environment for accounting and finance professionals. The hiring market is increasingly competitive. Companies are eager to hire accounting, finance and business systems professionals to help them capitalize on growth opportunities and launch new initiatives. This is fueling one of the strongest job markets for financial professionals in recent years. The following slides highlight some of the primary trends we’re seeing … 4

The Hiring Environment Higher salaries: 4.7 percent average increase Recruiting incentives Turnover rising Interim professionals filling gaps The highly competitive market for talent is driving salaries higher. Our Salary Guide research shows that U.S. starting salaries for accounting and finance positions are projected to increase an average of 4.7 percent in 2016. Those increases will be even higher for certain markets and positions. Recruiting incentives are more common as well. Firms are offering additional perks such as telecommuting, flexible hours, additional vacation days, tuition reimbursement and relocation assistance. The tight talent market is also leading to higher turnover, as professionals realize they have an expanding number of opportunities. In this environment, it takes time to hire or replace employees. Interim professionals are often the answer for companies needing to complete projects and maintain productivity while they search for full-time employees. Project professionals can also supply subject-matter expertise not available internally. And employers frequently use interim assignments as a way to evaluate potential hires. 5

The Hiring Environment CFOs were asked, “Which of the following steps are you taking or do you plan to take to retain your employees as the economy improves?” 63% Promoting top performers 52% Raising salaries 50% Increasing investment in professional development/training Retention is a growing concern for employers as employment opportunities expand and sought-after financial professionals realize how in demand they are. Workers who feel they’re overdue for a significant raise or promotion may be an especially high turnover risk. To keep workers from jumping ship, a majority (79 percent) of chief financial officers (CFOs) interviewed recently by Robert Half said they’re taking steps to improve employee retention as the economy recovers. This graphic illustrates some of the actions they’re taking. 48% Enhancing employee benefits (health insurance, retirement packages) 32% Reinstating or increasing bonuses 21% None/no steps Source: Robert Half survey of more than 2,200 CFOs in the United States 6

The Hiring Environment What employers seek:  Functional skills Now let’s look at what attributes employers are looking for in accounting and finance candidates. Strong functional skills are always in demand. Professionals with general accounting skills – as well as those in areas such as payroll and billing – are needed to support business growth. Accountants with specialized experience in areas such as revenue recognition, SEC reporting and GAAP (generally accepted accounting principles) are also sought after. Analytical skills remain in demand as well, as companies look to financial professionals to help them identify growth opportunities and make strategic recommendations. [Notes continue onto next slide]  Professional credentials  Collaborative personalities 7

The Hiring Environment What employers seek:  Functional skills Professional credentials remain important. The certified public accountant (CPA) designation remains the most requested and versatile credential for accounting and finance roles. As for academic degrees, the MBA (master of business administration) remains valuable, particularly for senior-level finance and analytical roles. Other popular credentials include: Chartered financial analyst (CFA) Chartered global management accountant (CGMA) Certified internal auditor (CIA) Certified information systems auditor (CISA) Certified management accountant (CMA) Project management professional (PMP) Certified payroll professional (CPP) In addition, organizations look for outstanding interpersonal abilities in candidates. Strong communication skills are key, as are individuals who can collaborate well with colleagues from different areas of the business.  Professional credentials  Collaborative personalities 8

The Hiring Environment Hot Jobs Accounting manager Business analyst Business systems analyst Compliance officer Financial analyst Information technology auditor Internal auditor Payroll professional Senior accountant Staff accountant The most in-demand accounting and finance positions include: Accounting managers Business analysts Business systems analysts Compliance officers Financial analysts Information technology auditors Internal auditors Payroll professionals Senior accountants Staff accountants 9

The Hiring Environment CFOs were asked, “In general, what would you say is the single greatest pressure facing your accounting and finance function?” Keeping pace with changing technology 41% Meeting regulatory compliance mandates 24% Harnessing/managing big data 17% Finding and keeping skilled staff 16% Businesses are struggling to keep pace with technology and understand the associated risks and opportunities. A recent Robert Half survey of U.S. CFOs found that 41 percent said staying current with changing technology is the greatest pressure facing their accounting and finance teams. Meeting regulatory compliance mandates followed at 24 percent. Source: Robert Half survey of more than 2,100 CFOs in more than 20 of the largest U.S. markets. Responses do not total 100 percent due to rounding. 10

The Hiring Environment Help wanted Companies need individuals proficient with: Enterprise resource planning (ERP) systems Integrated financial reporting systems Cloud computing platforms Information security and data-mining tools Systems conversion projects As a result, companies seek professionals who are proficient with: -- Enterprise resource planning (ERP) systems -- Integrated financial reporting systems -- Cloud computing platforms -- Information security and data-mining tools -- Systems conversion projects 11

Public Accounting Trends Now that you understand the general hiring environment, let’s shift gears slightly and look at some of the latest trends specific to public accounting … 12

Public Accounting Trends Partner-level retirements Hiring at all levels Audit, tax, risk, compliance, and mergers and acquisitions Public accounting vs. corporate accounting Compensation increases, sign-on bonuses and greater flexibility As partner-level professionals retire, hiring has taken on a greater sense of urgency at public accounting firms. National and regional firms are hiring at all levels. Both experienced and entry-level candidates are in demand. Hiring is strong for audit and tax roles. Firms are also looking for professionals with expertise in risk management, compliance, and mergers and acquisitions. Fierce competition for accounting talent at all levels continues between public accounting firms and corporate employers. To enhance recruiting and retention, public accounting firms are boosting compensation, offering sign-on bonuses, and extending greater flexibility in work arrangements and hours. 13

Financial Services Trends Next, let’s look at some of the noteworthy hiring and compensation trends in financial services … 14

Financial Services Trends Business growth and regulatory demands driving hiring Risk, compliance and internal audit in demand Expertise needed: AML, KYC, FINRA, CCAR, Dodd-Frank Hiring in commercial banking, investment banking Business growth and the demanding regulatory environment are driving robust hiring across all sectors in financial services. Companies need help ensuring compliance and managing risk, leading to strong hiring for roles in risk management, compliance and internal audit. Professionals with knowledge of certain regulatory directives are in demand, such as: -- Anti-money laundering -- Know-your-customer -- Financial Industry Regulatory Authority (FINRA) -- Comprehensive Capital Analysis and Review (CCAR) -- The Dodd-Frank Act, particularly rules related to capital adequacy and consumer protection Hiring in commercial banking ranges from small community institutions to national firms and for positions in relationship management, business development and credit analysis. In-demand specialties in investment banking include private equity accounting, hedge fund accounting, fund administration, trade clearance and settlement operations to name a few. 15

Financial Services Trends Salaries are rising Sign-on bonuses, merit raises and performance-based bonuses Focus on retention Compensation Trends Competition for talent is tight in the financial services sector as well. This is leading firms to boost salaries, offer sign-on bonuses, and promote the potential for generous merit raises and bonuses. Firms also are increasing current employees’ compensation to improve retention. 16

Spotlight on Healthcare Now, I’d like to touch on accounting and finance hiring within the healthcare industry. 17

Spotlight on Healthcare The following healthcare reform and trends continue to contribute to financial hiring: The Affordable Care Act (ACA) ICD-10 Value-based reimbursement Healthcare management systems Healthcare reform continues to redefine how benefits are offered and delivered, and it’s also affecting hiring in accounting and finance. Some of the most notable trends include: The Affordable Care Act: As payers and providers manage more members and patients as a result of the ACA, they need more financial staff, especially in accounting, revenue cycle and operations. ICD-10: The move to implement the World Health Organization’s International Classification of Diseases standards (ICD-10) will impact the revenue cycle and reimbursement process within provider and payer organizations, also increasing the need for finance, revenue cycle and operations staff. Value-Based Reimbursement: The growing adoption of value-based reimbursement contracts is expected to create new positions and processes within finance and operations. Healthcare Management Systems: Healthcare-related organizations will need specialized assistance, including the help of compliance experts, in adopting electronic health records and practice management systems to ensure compliance with relevant regulations. 18

Local Trends Let’s take a look now at some trends specific to our local market … 19

? Local Trends Growing industries Positions in demand Region-specific insights on positions in demand and growing industries are available at roberthalf.com/salary-center. Trends here is looks like; hiring is expanding in a number of areas including healthcare, real estate, construction, and manufacturing/ In March of this year, Robert Half released the Denver Professional Employment Forecast, where 90% of 200 Denver area CFOs who were surveyed said they were planning to hire to either expand staff levels or fill vacant positions In the next 6 months. What was interesting though was a slight dip of 2% of CFOs planning on adding new positions from Fall/Winter to Spring/Summer. Is that a hint of a slowing? Positions that we currently see a demand and will continue to see a high demand is Staff (1-3 year exp) Senior Accountants (Public Accounting Foundation). Mid level management positions _ Accounting Manager/Controller. The demand for blended back ground accounting foundation but can compile and analyze large amounts of data. Compliance and Audit are continuing to rise in demand. 20

Boomer Retirements Underscore Succession Needs One trend that is coming more into focus is the issue of baby boomer retirements. After years of anticipating a wave of retirements, companies are seeing this trend take shape. The result is the departure of seasoned professionals and possibly valuable institutional knowledge. Is your company prepared to respond to this talent shift? 21

4 Ways to Smooth the Transition Allow phased retirement options. Focus on all levels. Groom high-potentials. Keep an open mind. Consider these succession planning suggestions: Allow phased retirement. These arrangements can include consulting, part-time work, flexible hours, telecommuting or specialized project work. Phased retirement options allow boomers to retire gradually while providing time for them to train successors. Focus on all levels. Don’t just plan for senior-level vacancies. Consider whether there are capable successors for key roles at all levels. Groom high-potentials. Prepare future leaders now through mentoring, additional career development or education, and stretch assignments. Keep an open mind. Don’t just consider the person who’s next in line on the organizational chart. Look for employees who have advanced skills or exceptional personal characteristics. They may be ready to advance into more prominent roles. 22

The Industry’s Leading Resource Salary and hiring research I’d like to end today’s presentation by mentioning some of the comprehensive resources we provide. In addition to the Salary Guide, we offer insights on current hiring trends on our Salary Center, available at roberthalfmr.com/salary-center. There, you’ll also find our Salary Calculator, where you can quickly look up a salary range customized for an individual position in your local area. Jointly developed by Robert Half and Financial Executives International, Benchmarking the Finance Function presents benchmarks in six key areas – workforce management, accounting operations, financial systems, sourcing, internal controls and compliance – to help companies manage their accounting and finance departments. The Demand for Skilled Talent sheds light on the current skills gap and talent shortage and why hiring managers need to move quickly in their recruiting efforts. Our guide, The People Puzzle, was developed in collaboration with the American Institute of CPAs and provides essential insight into how to build and retain a talented accounting and finance team. Our latest research, Get Ready for Generation Z, sheds light on the career expectations, desires and preferences of the next generation of workers you will soon be recruiting. 23

How Can We Help? Let us: Help you find senior-level finance, accounting and business systems professionals on a project and interim basis Find the right talent for your specific needs – whether it's one person or an entire team Offer guidance on local market trends [NOTE TO SPEAKER: PROVIDE AN OVERVIEW OF ROBERT HALF MANAGEMENT RESOURCES. UNLESS OTHERWISE REQUESTED, IT IS NOT NECESSARY TO PRESENT AN OVERVIEW OF EACH FINANCIAL DIVISION.] We have access to senior-level project and interim professionals who can call upon their considerable business experience and finance, accounting or systems background to help address your complex business challenges head-on, whether leading a project or staffing an interim managerial role. Our team in [local area] location(s) typically have worked in the industries we serve and understand your business needs, which allows them to find the right talent for your specific needs – whether it's one person or an entire team. We also can assist in identifying local hiring trends and are ready to work with you to meet your specialized project needs. 24

roberthalfmr.com/salary-center Thank you for joining me for this discussion. Does anyone have any questions? [Address any questions that come up.] If you have any questions later, please don’t hesitate to reach out to me directly. I’ve noted my contact information on this last slide. I also noted the URL for our salary center where you can access a lot of the salary and hiring tools and resources I’ve discussed today. Thank you! Kevin Mooney Kevin.mooney@rhmr.com