As we come to the end of Q1, our expert recruitment consultants have provided insights into the current employment market within Accounting & Finance.
In this Q1 Review, we will be looking at; current trends within the Accounting & Finance market, talent attraction and retention, unique industry benefits, relevant skills and qualifications, notable behaviours from professionals and any legislation changes or political events set to have an impact on the industry.
Among the industries which are particularly attractive in terms of roles right now are Pharmaceutical and Technology. This is largely due to the perception that these industries offer slightly higher salaries and additional benefits. However we are seeing many organisations review salary levels and benefits packages to keep pace with candidate expectations and to remain competitive.
We have found that many businesses have looked to focus on retention of staff, especially within specialised areas such as payroll. There is a high demand for these kind of professionals and companies are aware of this and therefore aim to retain talent in this field. They accommodate their needs via initiatives such as yearly salary reviews.
Talent attraction has been challenging in general in the sector, with organisations holding out for professionals which they feel are the exact fit for their hiring requirements. However, gradually businesses are accepting that it is a candidate driven market, and are therefore readjusting their expectations in terms of experience, salary expectations and more. In order to be successful, businesses have had to readjust their salary or benefit offerings in order to attract the best talent. Many companies have also had to provide flexible working hours in order to secure deals.
Notable trends among professionals have included taking a pay cut to reduce commuting times, professionals who have been made redundant accepting pay decreases in order to gain additional relevant experience. There are also a lot more passive candidates on the market which means there is a greater need to approach candidates who are not yet active.
Some examples of unique benefits which were found across the sector include additional benefits such as complimentary lunch or breakfast options, early finishes on a Friday, flexible start/finish times, bonuses when passing exams and complimentary gym membership.
The Stamp 3 visa is set to move to the Stamp 1G which indicates you have finished your studies in Ireland and have permission to look for employment here under the Third Level Graduate Programme. Shared services, particularly in the Accounts Receivable space is mainly being outsourced. As well as this, PAYE modernisation is changing the regular duties within payroll.
Click here to view the other discipline updates for quarter 1.