Glimmers of hope for accounting and finance

Paul Roche our consultant managing the role
Author: Paul Roche
I don’t think anyone would disagree that 2020 was a tough year. In recruitment we are usually on the sharp end of economic turmoil, so I’m very empathetic to people’s struggles, especially those seeking new employment.  

However the good news is that over the last couple of months we have seen some glimmers of hope. Since last September there has been a slow but steady incremental demand for accounting & finance talent in London. This was precipitated by the gradual reopening of offices, and clearing the hiring backlog which was created in the late spring and summer months due to the COVID restrictions and the extreme uncertainty.

Candidate needs have changed


Whilst firms were constrained and had conservative hiring plans, the risk appetite among candidates for a new role, company, or location change surprised us - this has no doubt been triggered by the enormous lifestyle changes that we’ve all been contending with recently. Many people have decided to escape that city in search of open, more green spaces, and the vast majority of candidates we speak with are expecting a new level of work flexibility to support their personal and family interests.

A large dichotomy between company attitudes to hiring!  


Some firms are making the hiring process so cumbersome that both parties lose interest half way through the process.  It’s not uncommon to see a candidate going through six or seven rounds of interviews, without receiving an offer at the end of the saga. Whilst other organisations are very quick to bridge the skills gap, recognising that finance departments need enough resources to operate effectively.

The overwhelming message that we are receiving is that accountants are feeling jaded, given they are working harder than ever with less moral support and fewer resources. Now businesses are starting to see cracks appear and recruitment is back on the agenda. "

It has largely been an employer’s market lately, where candidates have very realistic expectations and businesses have been able to secure strong candidates quickly. We are also seeing a fresh demand for niche skillsets, such as: Regulatory Reporting,  IFRS 17, and Technical Accounting, which has led to competing offers and a shortage of candidates with the right skills. The projects that were put on the long finger are now back in focus.

In contrast to the 2008 crisis, we haven't seen many redundancies within financial services firms. Nevertheless, businesses are reassessing what skillsets they require from senior finance leaders in this uncertain environment. Unfortunately we have seen some cost cutting at the very senior end of the market with opportunistic or knee-jerk removal of CFOs and Directors who may have been seen as an expensive luxury in a stale economy, however these people will be an absolute necessity to have in place when businesses return to growth mode. 

We’re expecting risk appetite to accelerate 

Going into spring 2021 we fully expect that positive news on a vaccine will spur a newfound confidence, and risk appetite will accelerate the need for additional resources and new expertise, leading to a war on talent. Our advice would be to really look after those star employees who you want to keep as they will be approached by other companies! If you are thinking about growing your team or department, it may be worth getting ahead of the game and kicking that process into action before you lose out, or have to pay salaries over the odds.

If you are considering recruitment options, or want to discuss your own personal circumstances, then please feel free to call me for a chat on 079 6337 0126, or drop me an email.

11/01/21
posts

Related articles

Why you need finance contractors to bolster your business
Why you need finance contractors to bolster your business

Teaser

Financial Services

Content Type

General

24/06/24

Summary

The interim and contracting industry currently accounts for a third of the world’s working population and is projected to reach $500 billion in gross volume in the next five years. Why has there

Teaser

Contract work meets rapidly changing needs

Read full article
Ryan Johnson

by

Ryan Johnson

Ryan Johnson

by

Ryan Johnson

London SMES are increasingly reliant on temporary workers
London SMES are increasingly reliant on temporary workers

Teaser

General

Content Type

General

06/06/24

Summary

According to research from Sonovate London SMES have become increasingly reliant on temporary workers. New research has revealed that there has been an increase in reliance from small and medi

Teaser

Are London SMEs increasingly reliant on temporary workers?

Read full article
Jamie Smith

by

Jamie Smith

Jamie Smith

by

Jamie Smith

Making the Most of Your First ACA Qualified Role in Industry
Making the Most of Your First ACA Qualified Role in Industry

Teaser

Commerce & Industry

Content Type

General

05/06/24

Summary

Transitioning from an accountancy practice into your first role in industry is a significant milestone in your professional journey. As a newly qualified accountant, you possess a robust fou

Teaser

Looking to make your first move into industry? We can help!

Read full article
Hannah Spears

by

Hannah Spears

Hannah Spears

by

Hannah Spears

jobs

Related jobs

Fund Controller - Hybrid - Associate (12m Contract)

Salary:

£75,000 - £80,000 per annum + + strong pension & benefits

Location:

London

Industry

Private Equity

Qualification

Fully qualified

Market

Financial Services

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

Real Estate Fund Controller - Hybrid - Associate (12 month Contract) Location: London / Hybrid Salary: £75,000 - £80,000 + Pension + Benefits

Reference

BBBH180674

Expiry Date

01/01/01

Paul Roche

Author

Paul Roche
Paul Roche

Author

Paul Roche
Find out more
Finance Assistant

Salary:

£30,000 - £35,000 per annum + Study Support & Hybrid working

Location:

City of London, London

Industry

Private Equity

Qualification

Part qualified

Market

Financial Services

Salary

£35,000 - £40,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

This is a newly created Finance Assistant position to join a Private Equity firm. Reporting to the Financial Controller and offer ACCA study support.

Reference

BBBH181300

Expiry Date

01/01/01

Thomas  Steel

Author

Thomas Steel
Find out more
Product Controller / Trade Accountant - Commodities (Contract)

Salary:

Negotiable

Location:

London

Industry

Investment Banking & Capital Markets

Qualification

Fully qualified

Market

Financial Services

Salary

£350 - £450

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

Product Controller / Trade Accountant - Commodities Trading Firm (3+ Month Contract)

Reference

BBBH181200

Expiry Date

01/01/01

Paul Roche

Author

Paul Roche
Paul Roche

Author

Paul Roche
Find out more
Senior Fund Controller (Private Credit) - Hybrid - 12m Contract

Salary:

£90,000 - £100,000 per annum + + pension & benefits

Location:

London

Industry

Investment Management

Qualification

Fully qualified

Market

Financial Services

Salary

£100,000 - £125,000

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

Join a leading global Private Credit investment firm as Fund Controller (12m Contract)

Reference

BBBH180157

Expiry Date

01/01/01

Paul Roche

Author

Paul Roche
Paul Roche

Author

Paul Roche
Find out more
FP&A Analyst

Salary:

Up to £40,000 per annum

Location:

Bracknell, Berkshire

Industry

Real Estate

Qualification

Fully qualified

Market

Financial Services

Salary

£40,000 - £50,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

FP&A Analyst-Bracknell-Hybrid-£40,000. We are pleased to be assisting this PE backed, close to £300m turnover property services company based on the borders of Wokingham & Bracknell.

Reference

BBBH180667

Expiry Date

01/01/01

Nakita Kaur

Author

Nakita Kaur
Nakita Kaur

Author

Nakita Kaur
Find out more
Graduate Tax Assistant

Salary:

£25,000 - £28,000 per annum

Location:

Leeds, West Yorkshire

Industry

Business Services

Qualification

None specified

Market

Financial Services

Salary

£25,000 - £30,000

Job Discipline

Tax

Contract Type:

Permanent

Description

.

Reference

BBBH180394

Expiry Date

01/01/01

Aleksandra  Taranovskaja Find out more
Senior Fund Controller

Salary:

£95,000 - £150,000 per annum + strong bonus and benefits

Location:

London

Industry

Investment Management

Qualification

Fully qualified

Market

Financial Services

Salary

£125,000 - £175,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Fund Finance role: A chance to join one of Europe's best alternative investment firms in a transformation time for the business.

Reference

BH174684

Expiry Date

01/01/01

David Harvey

Author

David Harvey
Find out more
Senior FP&A Associate

Salary:

£80,000 - £85,000 per annum + Strong benefits and bonus

Location:

London

Industry

Investment Management

Qualification

Fully qualified

Market

Financial Services

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Senior FP&A Analyst with good financial modelling skills? Looking to work in a high growth, pioneering global investment firm contributing towards its growth?

Reference

DH3008

Expiry Date

01/01/01

David Harvey

Author

David Harvey
Find out more
Manufacturing Management Accountant

Salary:

£30,000 - £45,000 per annum

Location:

Louth, Lincolnshire

Industry

Manufacturing

Qualification

Part qualified

Market

Financial Services

Salary

£40,000 - £50,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Our client is looking for a Management Accountant with costing experience to join their new distillery based in Louth.

Reference

BBBH181270

Expiry Date

01/01/01

Dean Folland

Author

Dean Folland
Find out more
Senior Group Controller

Salary:

Negotiable

Location:

City of London, London

Industry

Investment Management

Qualification

Fully qualified

Market

Financial Services

Salary

£100,000 - £125,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Leading PE Advisory Firm is hiring a number 2 for the Head of Finance. Overseeing the various finance verticals - stakeholder management position

Reference

BBBH181245

Expiry Date

01/01/01

Cliodhna Lynch Find out more
View all jobs