It's a candidates market in Practice
24 November 2015
Now that we are in the last quarter of the year it is interesting to look at where business confidence currently sits within the accountancy market, and the predictions for where it may be in the beginning of 2016. The recent ‘Business Small Change Index’ report from Aon Risk Solutions has indicated a drop in the number of firms who have a positive outlook, with this number dropping from 59 per cent to 47 per cent, representing a fairly significant shift. Firms have noted a number of factors for this change with many noting that keeping hold of existing clients certainly contributed to it. In an increasingly competitive market maintaining a strong client base is essential and is certainly proving to be more of a challenge.
However, it is widely noted that the severe skills shortage within the market is presenting firms with the most significant challenge, one which will need to be addressed if they are to achieve the growth and stability they are aiming for. Moving into 2016 it is crucial for firms to be training and coaching new staff in order to overcome this shortage, and for them to recognise that as it stands, the recruitment market is certainly candidate-led. For employers looking to grow their teams it is important for them to realise that candidates within the accountancy market now have a number of options. They will often find themselves presented with more than one offer at a time, and these offers will more than likely come with a substantially increased salary.
This situation is certainly good news for candidates who possess the skills that firms are desperately looking for, and who are considering a move. Candidates who are seeking to achieve a better work/life balance (a common reason we see for considering a move) are in a good position to achieve this, with firms noting that this is a major factor in attracting, and more importantly retaining good staff. Many candidates in this position find that there are options available to them that they may not have considered yet, or even realised were options at all.
If you would like to discuss the market or current opportunities in more detail then please do get in contact with us.
Written By Melissa Murray