2007 Boom Year For Accountants

According to Nigel Barcham, Director, Robert Half International ANZ, 2007 will be a boom year for accountants in Australia.

ìCompanies continue to invest heavily in their finance and accounting teams, but the skills shortage appears set to continue in 2007î Nigel predicted. ìOngoing financial reporting and compliance requirements resulting in the formation of specialised internal finance teams and commercially savvy finance people are going to be required to assist in executing orgnisationsí growth plans.î

Robert Half Finance and Accounting believe the threat to Australian companies from talent being recruited to work overseas will continue, with Hong Kong, Singapore, India, China and Japan providing the most lucrative opportunities to Australian finance professionals. This trend can be viewed as a positive in the longer term for Australian businesses, with professionals returning to Australia from these locations bringing valuable experience and skills back into the country.

ìWe really need to focus more on onshoring. When you look at India, theyíve done a great job promoting their country as a great place to offshore relatively unskilled jobs,î said Nigel. ìIn my opinion, Australia needs to position itself as the hub for onshoring the highly skilled finance roles for Asia Pacificís global companies.î

In Australia, Robert Half predict that salary perks will remain a key driver for potential candidates when selecting a position. But in 2007, candidates will increasingly be lured to roles by non-monetary compensation. Advanced training and development programs, openness and transparency of communication, cross functional promotion track record, employer brand and organisational reputation will all play a major role in finance professionalsí decisions to accept a position. Robert Half predict 2007 will see an ongoing tough market for employers looking for the best talent.

Nigel Barcham said: ìThe implications of high business confidence and the skills shortage will have a great impact on the industry this year. Firstly, the companies are going to have to focus on more creative retention strategies. Secondly, organisations are going to have to provide a more compelling proposition than they may have previously communicated if theyíre going to attract the best talent. And, thirdly, for the job seeker in the finance and accounting industry, the good news is he should be continued to be spoiled for choice.î