• Post Vacancy
  • Register
  • Jobs

Accounting & Finance Recruitment Market Update - April 2024

  • Posted 03 Apr 2024
  • Richard Holmes
  • Article

Is the tide turning in Sydney's accounting and finance market? 

A recent report reveals a startling statistic: 90% of CFOs fear losing key employees. Retention is critical, yet many companies struggle. The solution? Competitive salaries and a strong company culture, especially in a hybrid work environment.

According to the ANZ Bank, Sydney's Booming Economy Fuels Hiring:  Australia's economy is projected to grow by 4.25% in 2024. This positive outlook translates to increased hiring activity across industries, with finance being a significant driver. A recent SEEK report highlights a 22% surge in finance job postings year-on-year in Sydney.

Generation Z is on the Rise: A shift in workplace expectations comes with them. Change strategist and trends expert Michael McQueen emphasises the need for leaders to adapt to this new generation, which will make up nearly a third of the workforce by next year. “Around 72% of Gen Zs prefer face-to-face communication over video calls and remote arrangements. Work is an essential social component of their life. It’s where you meet people and form networks, so not everyone will be happy with working from home,” he says.

The recruitment landscape is bustling with opportunities within the $130,000 to early $200,000 salary bracket, for both contract and permanent roles: Activity tends to taper off above this threshold, which has been quieter for some time. Many senior finance professionals find themselves eager to break out of the monotony and dive into new ventures. If you're feeling the itch for change and are ready to embrace a fresh challenge, we invite you to get in touch.

Clients are maintaining a cautious approach to hiring: Opting for a conservative strategy that often overlooks the importance of training and development for new hires. This scrutiny leads to candidates being evaluated on an exhaustive list of criteria, with a "check-the-box" mentality that may inadvertently narrow the field too much, potentially overlooking exceptional talent. This cautiousness, while aimed at minimising risk, may limit the opportunity to make truly impactful hires.

Sydney Firms Face a Skills Shortage: This limited talent pool creates an opportunity for you, the skilled professional. Here's what's in demand:

  • Strategic Finance: Businesses crave financial leaders who can navigate complex decisions and provide strategic insights.
  • Data Analytics & Automation: Technology is reshaping finance. Hone your skills in data analysis, automation tools, and financial modelling.

HPR Consulting Success Story: We recently placed a highly sought-after Senior Financial Analyst with data visualisation expertise at a leading advertising firm. Their ability to translate complex data into actionable insights impressed our client, landing them a fantastic opportunity.

Salary & Benefits: 

Top talent can expect competitive salaries, generous bonuses, and comprehensive benefits like:

  • Flexible work arrangements, including remote work options
  • Health and wellbeing initiatives
  • Professional development opportunities

Retention Strategies:

Building a solid company culture and offering competitive salaries with attractive benefits packages is crucial. However, consider these additional tips:

  • Invest in your people: Provide opportunities for professional development and career progression.
  • Embrace flexible work: Offer remote or hybrid work arrangements to attract and retain talent who value work-life balance.
  • Be transparent and communicative: Keep employees informed about company goals and challenges. Foster open communication to address concerns and build trust. Regular informal one-on-one meetings can work wonders. 

Differentiate Yourself in the Talent Hunt: 

The competition for skilled finance professionals is fierce. Here's how you can stand out:

  • Clearly define your ideal candidate profile: Identify the specific skills and experience required for the role. If the candidate has the right personality and attributes, can the rest be learned?
  • Showcase your company culture: Highlight what makes your company a great workplace beyond just compensation.
  • Keep it quick and communicate well: Candidates are frustrated with the recruitment process. Those who engage them well win.
  • Partner with a specialised recruiter: Leverage the expertise of a firm like HPR Consulting, which has a deep understanding of the Sydney finance market and a proven track record of successful placements.

Need more insights?

At HPR Consulting, we're trusted advisors for Hiring Managers and leading Sydney companies. With a strong network and 86 “5-star” rated positive Google reviews, we can help you find your next hire.

Our recent success stories speak volumes. Here are our latest placements - Senior Finance Manager, CFO, Finance Business Partner x 3, Head of Finance Transformation, Senior Financial Analyst x 4 and Financial Controller. 

If you want to learn more about Finance Talent, need salary advice or have any finance recruitment needs we can help with, please don't hesitate to contact us.

Back Next Post