Your quarterly update on the Accounting & Finance commercial businesses market, where we provide you with insights from both the previous and upcoming quarters.
What were the market trends for last quarter?
There was a lot of confidence in the market with a good number of jobseekers feeling it was the right time to move and businesses who still had budget left to hire them. Given it was that crazy time of year with a lot of people pulling long hours and ensuring the statutory accounts were done in time, there was the usual spike in businesses wanting extra pairs of hands in the form of interim short term contract support.
What are the major skills in demand?
This sounds a little repetitive but the skills in demand are more on the softer side than the technical side of being an accountant. Companies are still desperately seeking those people who are technically strong but can translate financial information to multiple stakeholders from different areas of the organisation.
Are you looking for people with these skills?
What are the skill gap shortages?
There are still major gaps in the Finance Transformation space across businesses in Australia. There has been a lot of change in the last couple of years with some businesses moving from being publicly owned to privately owned, sectors where cost has been more of a focus than growth given current market conditions and I think we are starting to see this filtering through with the gaps in skill sets in this area.
It's a difficult area to find the right blend of commercial nouse to understand cost vs benefits. People with Change management skills who are able to demonstrate to stakeholders that change is necessary and then being able to implement those changes to ensure finance functions come out of it where they wanted to be. We are supporting a number of finance functions through this change at the minute and more skills in this area would be valuable.
What is the outlook for the next quarter?
Things will be active, they always are. It's the new financial year for a lot of businesses. Budgets would have been approved and a lot of leaders would have a clear idea of which additions they want and or changes they wish to make.
This quarter for us is usually our busiest and I do not expect this year to be any different. My advice to businesses is to focus on their hiring strategy and really think about what it is you need to do to attract the best talent in the first place. We've recently published an e-book with plenty of resources for businesses to read through and really optimise their hiring strategy.