Accounting & Finance Job Market Update: March 2018
This is a quick update, because frankly – good employers need great accounting & finance staff right now! So here is a snapshot:
IT’S BUSY. SUPER BUSY
There are so many employers wanting new staff right now. Recruitment slowed down during the election period, then we had the christmas lull and now we have a situation where companies are in a hiring frenzy. While this is exciting if you are a candidate – there are downsides for many employers (and recruiters also) – more about that later.
All levels of accounting & finance have been busy, but we’ve seen a load more senior roles this years also – lots on the focused around systems, process and team transformations as AI adoption comes online.
Mid level and transactional level vacancies are on the increase too. Many candidates are currently seeking promotions (and often leaving organisations to gain them) – so this is leaving many employers looking for new accounts payable clerks or assistant accountants. Employers are seeking well experienced staff but are increasingly focused on soft skills around communication and teamwork.
CONFIDENCE IS HIGH
Employees are confident to move. Most employers are motivated to hire. The biggest thing employers can do right now is make sure they retain the right staff – review your salaries and up them if necessary as the cost to rehire is high compared to retention.
While 2017 was a buoyant year for recruitment – we didn’t see a huge movement in salaries. With so much activity and demand this year already – we are anticipating a move in salaries in 2018 and have seen steady upwards movement of salaries in the past two months.
MULTIPLE JOB OFFERS ARE COMMON
Consult’s recruitment focus is on the top talent our clients want. These people are in high demand and we are currently working with candidates who have multiple job offers. Communication is key, as is working with employers on an efficient and focused recruitment process. Employers must put their best foot forward to any potential hires or risk losing them to their competition.
For our part, we are working really hard to ensure we understand candidate motivations and what other roles they are considering – no one enjoys getting 90% down the hiring process only to find out the candidate has accepted a left field offer.
BEWARE THE COUNTEROFFERS
Counteroffers are here to stay for a while. We’ve written about these before and nothing has changed. A counteroffer will stop the person leaving right now, but generally they’ll still leave. We spend a lot of time with candidates right now discussing counteroffers so they are making informed decisions, not knee jerk ones.
All in all, its a super busy time with loads of confidence and hiring intentions galore.
For job seekers: It’s a great market to be looking for your next role – but remember that employer expectations are high, so bring your A game. Your soft skills are essential!
For employers: It’s a great market to be hiring – just make sure your recruitment process is sorted or you’ll risk losing the best person.
Are you hiring or looking to be hired? Whatever side of the fence you are on – we are always looking to extend our community of well qualified, smart people who are passionate about Accounting & Finance.
Drop us a line or give us a call!