Welcome to your quarterly update on the Commerce and Industry market, where we provide you with insights from both the previous and upcoming quarters.
What were the market trends for last quarter?
Over the last six months, there has been a marked increase in merger and acquisition activity across private companies, listed groups and private equity companies. This spike in acquisition and divestment activity has already, and will continue to, spark an increase in large scale finance transformation programmes looking to both integrate new businesses, streamline systems and processes and generally take cost out of organisations.
What are the major skills in demand?
There has been a shortage of candidates coming from a technical advisory department of top tier firms that can consult on accounting policy and treatments. This has been demonstrated with the increased demand in companies looking for candidates to aid them in adopting the new IFRS standards around leasing. Due to the increased merger and acquisition activity, there has been an increased need for candidates who can consult on or have previous experience in acquisition accounting.
Need professionals with those skills?
What are organisations doing to attract the best talent?
The businesses which ‘win’ the best candidates take a pretty simple approach - proactivity! Being able to meet and cultivate relationships with top talent in the market on a regular basis is the way to do it. The businesses that wait for a live requisition are the ones that react too slowly and ultimately miss out on the best people. Businesses that can really put up in lights the great things about their organisation particularly focusing on things like diversity, inclusion, flexibility and purpose have been considered by the market employers of choice.
What is the outlook for the next quarter?
We expect more candidates to be coming to market after the Easter break with one eye on getting through year-end and the other on what might be next for them after the deadline. There will also be a continued effort from businesses to get their finance function closer to the action to really help and influence and drive better commercial outcomes. We expect candidates who have a good analytical base coupled with excellent stakeholder management skills to be desired and as mentioned previously finance transformation will be a hot topic.
Q1 2019 INSIGHTS
Top roles in demand
- Finance Transformation Expert
- Commercial Finance Managers
- Senior Analyst