Hays Accountancy & Finance - October 2008

The Profession

Hotspots

Candidates with insolvency experience are in high demand, particularly those at the supervisor and assistant manager level. Employers, especially large firms, are increasingly willing to offer sponsorship packages to international candidates looking to relocate. This has proven to be a successful strategy in attracting quality talent.

Similarly, qualified auditors are in high demand and this has been another area in which international recruitment has been successful. Candidates from Hong Kong and China have been excellent sources of candidates and firms that can offer attractive sponsorship packages are best placed to benefit from the skills these candidates can offer.

Taxation specialists with strong consultancy experience are another hotspot of demand as they are being drawn in larger numbers to other sectors by attractive salary packages on the basis of their comprehensive training and knowledge. Demand is strongest at the management level and within the mid-tier and Big 4 firms.

Hotspots of demand also exist for CA and CPA qualified senior accountants and senior auditors and managers. CA and CPA qualified candidates with 5 years experience in Australian Accounting Practice are also in demand. Demand exists at the intermediate level for accountants with 2-4 years experience in tax and business services.

The coming quarter

Employers are still on the lookout for quality staff but are more willing to hold out for the perfect candidate. The firms' reputation and partnership structure are becoming more prominent in candidate decisions to accept work and smaller firms must work hard to compete against the strong brands of their larger counterparts, who are able to offer international affiliations and high profile appointments. Having said this, candidates expecting multiple job offers may need to re-evaluate their expectations.

Executive recruitment

High quality executive candidates remain an area of need for professional practice.

Salaries

Salaries will stabilise over the coming months. Competition between firms has lessened compared to 6 months ago, and employees with inflated salary expectations will need to re-evaluate their position. Conversely, salaries within the hotspots listed above will enjoy some growth over the coming quarter.

Candidate trends

The tendency for candidates to change roles purely to secure higher salaries is becoming less common. Many candidates are now remaining in their current roles, or more seriously considering their reasons for seeking new employment. Opportunities for training and career development have become the most relevant factors when looking for a new job and candidates continue to be reluctant in accepting the first job offer they receive, seeking to find the 'perfect' job opportunity.

Some candidates with professional practice experience who have worked in commerce are now looking to move back into professional practice in pursuit of stability and variety of work.