Right now, the recruitment market is being influenced by a variety of significant and rapidly changing factors which shape both how businesses attract and retain talent, and how candidates approach job opportunities.
Economic Recovery and Talent Demand
Although marginal, the UK’s improving economy has led to increased demand for skilled accounting professionals. Salary guides state that 52% of finance and accounting hiring managers plan to expand their permanent headcount, with an additional 40% seeking talent on a project basis.
Digital Transformation and Technological Integration
Firms continue to invest heavily in technology, with over 75% reporting increased spending on AI and automation to enhance efficiency and drive growth. This digital shift is influencing recruitment, as firms seek candidates proficient in emerging technologies.
Evolving Work Models
A source of much debate amongst recruiters, the adoption of hybrid and flexible work models has become a standard expectation among professionals. Recruitment strategies should now emphasise flexible working arrangements to attract and retain top talent.
Focus on Environmental, Social, and Governance (ESG) Priorities
There’s a growing emphasis on environmental, social and governance (ESG) factors within the accountancy sector. Increasing numbers of firms are aligning their operations with sustainability goals and this is now influencing recruitment practices as firms want to attract talent adept in ESG reporting and compliance.
Challenges in Candidate Availability
Despite the positive economic outlook, the recruitment market remains candidate-short, particularly at senior levels. Firms are retaining their best talent and so the pool of high-quality actively searching candidates is limited. Therefore it has never been more crucial that firms offer competitive salary packages and clear career progression paths to attract talent that might not necessarily be looking to move.
All in all, this is a challenging time for accounting and finance recruitment, here in South Wales and across the UK. With finance functions becoming increasingly influenced by external factors; recruitment that offers high reward packages and is able to access passive candidates as well as active ones, will be the key to successful recruitment in accounting and finance roles,
At Môrwell Talent Solutions, we specialise in connecting businesses across Cardiff and South Wales with top-tier accounting and finance professionals, whether for permanent, interim, or temporary positions. Contact us to discuss how we can work together to attract talent that is with you for the long term.