NEIL JOHNSON,

ACCA Careers editor

While finance professionals are currently in a strong position, potential candidates should do their homework first.

Recruiting finance professionals has been a tough proposition for some time now. Even before the Great Resignation muddied the waters further, qualified accountants were hard to come by.

Simply put, there aren’t enough people to satisfy demand, with the upstream talent pipeline into the profession not strong enough to counter a downstream compounded by ageing populations, early retirees, people stepping back to care for families and career changers.

This bottleneck, on paper at least, puts finance professionals and those entering the profession in the driving seat.

"From the candidate’s perspective, there’s a better choice of positions and these tend to offer better salaries and benefits, as employers know they have to compete with each other to recruit the best talent," says Victoria McLean, CEO and founder of career consultancy City CV.

"This means candidates can expect a little more in terms of salary and should be able to negotiate good benefits, such as hybrid working, health options and study support. Candidates will probably also find that employers try and sell themselves on the strength of their culture or reputation."

Avoid complacency

Yet seeming to have the upper-hand comes with its own pitfalls and caveats. For starters, it can lead to complacency, an inflated sense of self-value or believing that employers are desperate.

"Despite the current employment market, you should not become complacent; apply the same amount of time and effort into applying for a position as you would ordinarily," says Simon Reichwald, chief progression officer at mentoring software developer Connectr. "Quality employers want to see evidence of research into their business and as much enthusiasm as prior to the tip towards a candidate-driven market. Preparation for application and interviews will positively pay off and help candidates stand out."

Given the darkening economic clouds globally, this preferential market may not remain as it is for long, so if you’re thinking of moving, perhaps ‘sooner rather than later’ should be your mantra. Having said this, the fundamental challenges facing employers – a low supply of finance professionals and people leaving the profession – is still in effect, so don’t expect a volte face.

First things first

"Regardless of the market, you should always have an up-to-date and relevant CV," says Kathryn Swan, head of professional services at Morgan McKinley. "That way, if a job opportunity is presented to you, you can quickly tailor your recent experience to the requirement."

"Employers know they need to be offering an enhanced candidate experience, but rather than just taking their word for their values from their website, look for the proof," says Reichwald.

[caption id="attachment_996626" align="aligncenter" width="390"] Neil Johnson, ACCA Careers editor. Photo courtesy ACCA -[/caption]

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