Talent remains in short supply for finance roles across England

- 45% of companies expect to see finance recruitment activity rise over the next year

- 54% are finding it more difficult to recruit talented individuals now than 12 months ago

- Basic salary levels are expected to rise at a steady pace, however, exceptional individuals in areas where supply is weakest will continue to command a premium

- Firms are looking beyond basic pay rates to the overall employee offering to compete for top accountants

Research conducted by leading financial recruiter ECHM, has revealed that finance hiring levels are set to increase significantly over the next 12 months and as finance talent pools continue to contract, companies are placing a greater emphasis on their overall employee offering to attract and retain skilled professionals rather than relying on basic salary alone. Talent management, compensation and training & development teams are working together to deliver transparent career paths, performance based compensation packages and sophisticated training and development programmes to bolster their ability to attract, develop and retain the right talent for their businesses.

The research conducted by ECHM in conjunction with its Annual Salary Survey published today, highlights a significant uplift in planned finance hiring by accountancy firms and commercial organisations in England. Almost half (45%) of organisations stated that they were looking to increase activity over the next twelve months and 39% predicted that levels would replicate that of last year. However, while organisations are keen to recruit, 54% reported that it was more difficult to find suitable hires than twelve months ago, highlighting the continued intensification of the skills shortages being experienced across the finance sector.

Whilst the competition to secure skilled candidates has become increasingly fierce, it has not led to major hikes in basic salary across the board. Rather, ECHMís Salary Survey has found that salaries have remained competitive yet relatively stable over the past twelve months with the exception of the most sought after individuals in the market.

As part of their attraction and retention policies, firms are instead focusing on strengthening aspects of their overall employee offering, such as career progression opportunities, options for flexible working and attaining an improved work life balance, and promoting a positive company culture. According to the research, 96% of companies noted the importance of career progression opportunities when attracting and retaining talent, 94% cited company culture as important and a further 83% of companies recognised that their work-life balance credentials were key.



The employer perception is in line with finance job seeker requirements. ECHMís research showed that whilst remuneration is still important, the key influencers on accepting a job with a new employer were career progression opportunities and company culture.

Kirsten MacLeod, Operations Director of ECHM comments: ìEmployers point towards healthy levels of finance hiring continuing over the next twelve month. However, as the war for finance talent shows no signs of abating, companies are looking beyond basic salary to more innovative and proactive methods for attracting the very best talent. They are working hard to raise the profile of their employer brands and improve the overall employee experience.

ìThis move by a number of accountancy firms to further improve their brand reputation and raise their work life balance credentials is particularly interesting, clearly they are listening to the candidate population that salary increases in isolation are not enough to secure key finance hires in this competitive market place.î