I for one can’t believe we are heading into q4 in a couple of weeks. The market continues to shift but generally speaking, most of the leaders I speak with are optimistic about year-end results and next year’s forecasts.

On the whole, we have seen a steady job flow throughout 2023, but nothing like the candidate short madness of late 2021 and 2022. Whilst this has led to a shift in overall vacancy numbers, demand for candidates is still extremely competitive.

Some of the trends we are seeing

Focus on ESG and Sustainable Finance: We have seen a growing emphasis on Environmental, Social, and Governance (ESG) initiatives, driving the need for finance and accountancy professionals well-versed in sustainable finance practices. Companies are incorporating ESG considerations into their financial strategies and reporting.

Digital Transformation: Firms are investing in automation tools, artificial intelligence, and data analytics to streamline processes, enhance efficiency, and reduce costs. This has created additional demand for systems and transformation skillsets.

Technical Reporting Roles: The market has been saturated with Financial Accounting & Financial Reporting positions. Demand for technical skillsets and those making their first industry move remains high. More than anywhere, this is where we have seen a continued uplift in salaries.

Increased Demand for Financial Analysts and Commercial Business Partners: One significant trend observed is the heightened demand for financial analysts and business partners. Companies across various sectors are seeking professionals with strong analytical skills to help them navigate economic uncertainties and make data-driven decisions.

Regulatory Changes: Ongoing regulatory changes, both domestically and internationally, have prompted companies to invest in compliance and regulatory reporting functions. This has led to an increased demand for professionals with expertise in financial regulation and compliance.

Remote Work Flexibility: Businesses that can’t offer hybrid working are finding it really tough. Those in rural/remote locations are really struggling to compete, partly because larger organisations that are offering complete remote working are now also tapping into their regional talent pool alongside local businesses. In terms of available talent, not being able to offer any flexibility has a stark effect on the candidate pool available.

Focus on EVP: With the buoyant job market, candidates still have a wide range of opportunities to choose from. Companies that are focusing on creating attractive employee value propositions to retain their top talent are winning the battle.

Getting your process right

While salary pressure has hit a plateau to some extent, the need to make quick decisions and get your offer right the first time is more critical than ever. Benefits and big-picture thinking about values alignment and business culture are playing more and more of a part in decision-making.

We enter q4 with an acceptance that although relatively buoyant, the market remains challenging and the quality of a recruitment process is fundamental to securing talented individuals. 

If you require more specific information or assistance with your recruitment needs in this evolving market, please feel free to reach out.