Sector focus: Finance & Accounting

Recruitment activity traditionally has a drop-off during the summer months of July and August, making it a challenge to manage processes from a client and candidate perspective, and this certainly was the case again this year. Demand for staff is still at a very high level however, and we continue to see a steady increase in the number of new roles we have taken instruction on across Finance during this period.

The current demand for talent across the sector continues to drive salaries up and offer rapid career advancement opportunities, with some candidates securing 15-20% salary increases when making a move. With so much movement in the jobs market, it’s becoming increasingly common for sought-after individuals to receive more than one offer, or to reach offer stage whilst at early stages of interview elsewhere. In this competitive environment, the clients who are the most efficient with their processes are proving to be the most successful. It is important for clients to find the right balance in terms of assessing suitability and selling the opportunity/firm/culture to provide a competitive advantage when hiring.

Looking ahead, Quarter 4 is anticipated to be a very busy period, with no sign of a drop off in the hiring market. September has already got off to a very busy start with lots of new instructions through, which will take processes through to the final few months of the year. Whilst there continues to be a healthy attrition rate across Finance, we are also seeing new hires across areas such as BI, Financial Analysis and Business Partnering, and are now seeing more and more individuals proactively trying to divert their careers into these fields for longer-term career progression.