The state of accounting and finance recruitment in 2024

The landscape of accounting and finance recruitment has undergone significant changes over the past few years. 

The demand for skilled finance professionals in London is steadily rising, reflecting recent recovery trends and growing business needs. 

As we move through 2024, understanding these shifts is crucial for both employers and job seekers navigating this dynamic field. 

Is accounting and finance in demand in 2024? 

As we move into the second quarter of 2024, the demand for accountants and finance professionals continues to be robust. 

Research indicates that this trend is set to persist, highlighting the ongoing value of their skills to organisations.

3 accounting and finance recruitment trends to be aware of 

1. Surge in technological advancements

Technological advancements are transforming the accounting and finance sector, with automation, artificial intelligence (AI), and data analytics leading the way. 

These technologies streamline processes, reduce errors, and enable more accurate financial forecasting and reporting. 

For instance, AI-powered software can automate routine tasks such as data entry and reconciliation, freeing up accountants to focus on strategic analysis and decision-making. 

This shift not only enhances efficiency but also requires accountants to develop new technical skills and adapt to rapidly evolving tools and platforms.

2. Rise of remote work

The rise of remote work has had a profound impact on accounting recruitment. The COVID-19 pandemic accelerated the adoption of remote work, and while this trend has continued into 2024, more and more businesses have moved towards hybrid work.

Hybrid work offers flexibility, broadens the talent pool, and allows companies to tap into a diverse range of candidates. 

3. Shift towards skills-based hiring

The shift towards skills-based hiring is changing the way organisations approach recruitment. Rather than focusing solely on degrees and traditional qualifications, employers are increasingly prioritising specific skills and competencies. 

In the accounting field, this includes not only technical skills such as proficiency in accounting software and data analysis but also soft skills like problem-solving, adaptability, and communication. 

This trend reflects a broader recognition that practical skills and hands-on experience can be more indicative of a candidate's ability to perform effectively than formal education alone.

Challenges in accounting and finance recruitment

With new trends comes new challenges for this sector. The challenges in accounting and finance recruitment in 2024 include:

• finding candidates with both traditional skills and advanced tech expertise, assessing remote work suitability, 
• maintaining company culture, 
• and ensuring effective remote onboarding. 
• Additionally, shifting to skills-based hiring requires nuanced recruitment processes and overcoming traditional biases. Employers need to invest in continuous training while candidates must commit to lifelong learning. 

This high demand for specialised professionals has created a highly competitive job market. 

The future of accounting and finance recruitment 

As we move further into 2024, the risk appetite is expected to accelerate. Positive economic indicators and a general sense of recovery will likely increase the demand for additional resources and new expertise, leading to intense competition for top talent. 

Employers should focus on retaining star employees, as they will undoubtedly be targeted by competitors. 

Whether you are a job seeker or an employer, navigating these changes effectively is essential. 

At Marks Sattin, we leverage our deep industry knowledge and extensive network to connect talented finance professionals with leading organisations. 

If you're looking to secure your dream role or seeking the perfect candidate for your team, our expert consultants are here to guide you through every step of the process. Learn more about what Marks Sattin can do for you today.