Hays Accountancy & Finance -
Professional Practice
January - March 2012
Hotspots
An increase in demand for Tax and Business Services, Audit and Insolvency candidates at the intermediate and senior levels is the result of the ongoing shortage of candidates. Tax consultancy, corporate tax and corporate finance will be very active, while the demand in Business Services will be particularly high in 2012. Overall Australia's professional practice jobs market will be very active this year.
Overcoming skills shortages
Given the ongoing shortage of professional practice candidates, employers are offering competitive salaries and are not keeping specific bandings in place. They are increasing study packages and offering competitive work/life balance initiatives to help attract candidates.
Some employers will consider overseas candidates, although it depends on the area. This is most obvious in audit, provided candidates have transferrable skills, and our Hays global network is identifying appropriate candidates. Secondments are also an option.
The coming quarter
Unlike many sectors that slowdown until February, employers in professional practice will have recruitment needs from early January. Most firms have ongoing requirements for candidates across all disciplines and we expect to see new permanent jobs also created from the start of the New Year.
Executive recruitment
Some smaller firms are still seeking partners from larger firms, while growing the fee base is always on the agenda.
Employer trends
Employers are speeding up their recruitment process to help secure the top talent by making offers after one interview, subject to referencing. They are also becoming very flexible regarding interview times. Some employers have increased superannuation from nine to ten per cent, and are also increasing salaries to retain their current staff and help attract new staff.
Candidate trends
The continued movement of candidates out of professional practice into commerce means we will see a very active jobs market as employers replace departing staff. The increased retention efforts of employers are also keeping the pool of available talent fairly steady. We may see a brief rise in candidate volume in the New Year as people reconsider their options or relocate, but overall candidate levels will remain fairly stable.
