The finance jobs market is at its most buoyant in years. There’s been a marked upturn in recruitment activity in the sector. And further rollback of pandemic restrictions has led to a sharp increase in the number of people placed into finance jobs.
Here’s what’s been happening over the last few months –
Increase in vacancies
For the last six months, the number of permanent finance jobs in the market has been rapidly growing. Demand for temporary finance staff has also been increasing. In fact, it’s the quickest growth we’ve seen since late 1997.
The ONS has reported that vacancies more than doubled from the same period last year. Up by over 150%!
Starting salaries increase for finance jobs
There is rising demand for staff in the sector. But this with the drop of candidate availability is fuelling the increase in starting salaries. It’s the old story of supply and demand. Only this time it’s with people.
The ONS showed that employee earnings rose by 7.3% on an annual basis. It’s something to bear in mind when you are recruiting.
Skills in short supply
Whilst the number of current vacancies is creating a candidate shortage, that’s not all. Ongoing uncertainty stemming from the pandemic and concerns over job security are also having an impact. In the accounting and finance sector, the current skills that are in short supply are –
- Credit Controllers
- Financial Controllers
How you can still recruit fantastic candidates for your finance jobs
There’s no denying that the market is tough at the moment. The stats speak for themselves. But there are still ways that you can attract fantastic candidates. And the good news is that it’s not all about the salary. Here’s our top 3 tips –
Work – Life Balance
A hot topic after the last 18 months. After over a year of working from home in some cases, candidates are looking for a work life balance. If you are able to offer flexible working, this will help you stand out in the crowded finance jobs market.
Again, another hot topic. What are you doing to look after your colleagues? What flexible benefits are you able to offer to contribute to their general wellbeing? These are the small things that candidates are looking for. If someone is offered 2 jobs with a similar salary, a wellbeing focus could help you secure that perfect candidate.
Training and development
Did you learn a new skill in lockdown? Even those of us who were still working in the office found that we had extra time at the weekends to pick up a new skill. This desire to continue to develop is still there. Are you able to offer any training or mentoring to help your new colleague gain new skills? If you invest in your team, it’s shown that they are more loyal and likely to be with you for the long-term.