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Knowledge Hub

SKILLS IN DEMAND, SALARIES RISING
SKILLS IN DEMAND, SALARIES RISING

 

During the next year 75% of finance leaders expect to experience difficulties in recruiting accountancy and finance professionals and securing the skills they need to build teams and manage their increasing workload. 

According to our research Qualified Accountancy, Financial Management, Risk, Compliance & Governance professionals will be at the top of many employers most-wanted lists.

 

Retaining key skills

In a market where there is plentiful opportunity for professionals to move roles and progress careers or increase earnings, it’s not that surprising that 50% of those surveyed expect their organisation’s ability to attract and retain their key talent to get worse in 2016. However, what is surprising is that only a very small amount of people (5%) expect things to actually improve at all over the next year.

"LEADERSHIP SKILLS AND COMMERCIAL UNDERSTANDING WILL BE IN HIGH DEMAND"

Impact on workload

Skills shortages will put a huge strain on productivity for many organisations, with 71% believing that skills shortages will impact their ability to effectively deal with expected workloads.

Finance professionals with strong leadership skills and commercial understanding will be highest in demand, as finance teams come under pressure to do more with the same, or less, resource.

Working smart, mitigating risk, adopting new technologies and understanding or using data to make commercial decisions, will be important factors for success, so it’s not surprising that key skills such as as risk management and data analytics are also high up on the much-needed skills list.

 

Rising salaries

The impact of today’s market normally means salaries will rise and most employers agree with this. Over two quarters (78%) are expecting salaries to increase in 2016.

However, only 14% of people are expecting a significant increase (of over 5%) and surprisingly almost 20% of those surveyed think that salaries are unlikely to increase at all. It’s probable that those not expecting a pay rise have received a significant increase in 2015.

"ALMOST HALF OF FINANCE TEAMS DO NOT CONTAIN ANY DISRUPTIVE TALENT"

Harnessing disruptive talent

As organisations look to adapt to the current employment climate, many are are looking within their existing teams for individuals to stand out and help drive the business forward. 35% of organisations have recognised people with the unique ability to innovate and challenge conventional wisdom.

Having an element of ‘disruptive talent’ can be a key asset, especially at a time when demand means that new thinking and new ways of working are needed. With around 44% of finance teams not containing any ‘disruptive’ individuals and another 204% not recognising the ones they have, it seems that more outside of the box thinking is needed if employers are going to overcome some of the challenges they are facing now and over the next year.

 

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