Hays Accountancy & Finance - January 2008
Public Sector
Hotspots
Financial accountants at the $80,000 to $100,000 level are the major centre of demand, followed by business analysts across all levels due to the increased level of service expansions and organisations updating or installing new software or investigating shared services options.
Mid tier accountants at the $80,000 to $100,000 level are also required and an increasing emphasis on professional qualifications means some "Qualified by Experience" candidates are coming lower on the shortlist. Finally systems accountants are required due to organisations moving to large ERP systems such as SAP/Oracle and SUN.
At the support level accounts payable officers are in demand as movement and the transfer of candidates to a higher role, within or outside the department, keep vacancy activity high.
Payroll candidates are needed as teams and departments grow, requiring more payroll support. Demand exceeds the number of candidates with specialist payroll training and experience on systems such as Aurion. Many organisations are unwilling to employ a candidate without this experience.
Candidates already holding security clearances are preferred, which speeds the recruitment process dramatically, particularly for short-term requirements that are usually immediate, such as to assist with a backlog of work.
Employers also require candidates that can commence a role immediately with minimal supervision. Prior experience within the Government sector is also advantageous as the candidate has government reporting and procedure knowledge.
The coming quarter
Based on employer feedback, there is a clear expectation that vacancy activity growth will continue this quarter, particularly in the hotspot areas listed above. Experienced senior accountants will continue to be in demand, particularly within the financial accounting arena as organisations restructure and plan for future growth.
Driving this activity will be Universities and TAFE colleges, as the increasing population and international student levels drive demand for their services. Local governments in population growth areas are also heating demand, while healthcare institutions within the age care sector always require skilled and experienced candidates.
However the introduction or expansion of shared services in some states will create a recruitment hold until the assessment of staff required takes place.
The current trend for good candidates entering the market and being snapped up quickly will also continue into the next quarter and beyond.
Executive recruitment
The recruitment market for executive level managers has been stable over the past quarter and this is expected remain the case. Executives are in place, and the demand is instead focused at the mid-management level, for such skills as senior accountants to carry out operational plans.
There is a perception that executive candidates are plentiful at present. However the number of quality candidates has decreased and specialist recruitment agencies remain a key for successful recruitment at this level.
Salaries
Salaries at the financial executive level will remain candidate-driven, with increases expected as organisations offer above award rates to attract and retain employees.
Having said this, the candidates coming from the resources sector often bring with them inflated salary expectations. Despite the demand for skills and organisations' willingness to be flexible, unreasonable salary expectations will not be met favourably.
In contrast, salaries at the support level are not expected to move over the short to medium term.
Temporary rates will remain flexible as the Government sector accommodates fluctuating market demand. The change of Federal Government now brings to the fore the issue of AWA's and Performance Pay and we await with interest to see what may replace these, as remaining competitive in the market is essential for the government to attract and retain their talent.
Candidate trends
Good financial accountants are becoming rare and those with solid skills and experience usually have a choice of two to three vacancies. These candidates are being very selective and because of the demand for their skills, some are receiving above average salaries that do not match their skills.
The temporary candidate pool has reduced, as many candidates are taking advantage of the current market to secure a permanent opportunity.
Overall the market is still indicating a shortage of suitably qualified candidates for senior roles. There does not appear to be any sign of this abating and there is likely to be a decrease in candidate activity with less people applying for roles.
Other trends
The need to retain staff will remain paramount as will the ability for public sector organisations to move quickly to attract the right candidate before they are secured by other organisations. The public sector will have to highlight the work/life benefits and family friendly working environments on offer in the public sector.
Finally, while it was difficult previously to place candidates without government backgrounds, employers are now becoming more flexible due to the candidate shortage in the market.
