Last quarter we experienced some significant shifts in the Melbourne recruitment market, largely due to a combination of political developments and general trends in the accounting and finance industry.
Whether you’re searching for staff or your next job opportunity, stay ahead of your competition and read what’s happening in accounting, finance and business support recruitment across Melbourne right now.
Experienced Risk and Audit professionals are in very high demand
“There is a high demand for experienced risk and audit professionals at the moment, particularly in the financial services sector as a result of the Royal Commission’s latest report”, explains Andrea Ogden, Director of senior accounting and finance recruitment at Accountancy Options.
The report, released in February, calls for tighter regulation of Australia’s finance sector after a series of scandals shook the banking and superannuation industry last year.
This coincides with predictions from The Australian Financial Review, who reported that risk and compliance jobs would reach record levels this year.
As a result recruiting talented risk and audit staff it may be tougher than usual and employers may need to dedicate more resources to the process.
Candidates are following the money
“Candidates are very driven by money at the moment and this the key deciding factor for them when assessing multiple offers”, says Amanda Alter, our Director of senior accounting and finance recruitment.
Flexibility, a health work-life balance and progression opportunities are also high on the priority list for candidates who are considering new roles.
If you’re exploring new ways to attract top talent but have hit the limit of your budget, offering these additional attractive benefits could give you the competitive edge you need.
Employers are hiring more temporary and contract staff
In contrast to the first quarter of 2019, we’re now experiencing a surge in the number of temporary and contract hires.
“Clients seem to be erring on the side of caution again and using temps, so we’ve had a relatively quiet quarter in terms of permanent placements”, shares Natasha Jordan, our accounting support recruitment expert.
“Throughout May and June over 80% of our placements were temporary.”
“Many of our clients have been also offering temp-to-perm opportunities to the right candidate which is always a good strategy for engaging more prospective candidates and making efficiencies in the long run”, adds Andrea Ogden.
Our team are experiencing this across all industries, regardless of role or level.
“The senior accounting contract market and the temp accounting support market were both busy leading into year end and has continued to stay that way so far,” shares Amanda Alter.
Naturally, the End of Financial Year is a busy time for hiring managers who often need temporary accounting support staff to help finalise reports and tie up loose ends.
If you found yourself shorthanded this year, prepare ahead of time in 2020 and let a recruitment agency know that you may need temp staff in advance so they can line up some talent solutions for you.
Accounting support staff are in higher demand, particularly payroll staff
Over 70% of our placements this quarter were transactional, accounting support staff or general business support staff, compared to 48% last quarter.
“With EOFY in the last quarter for most employers and the election that just passed, we saw a need for more transactional roles than senior positions,” says Mariam Zekeria-Mir, Senior Recruitment Specialist at Accountancy Options.
“This hasn’t seemed to have lost traction yet, and we’ve also seen a big spike in requests for payroll staff over the past couple of weeks,” Natasha Jordan adds.