Surviving the pandemic in the accounting & financial space
While the Covid-19 pandemic continued into its second year in 2021, hiring activity in the finance and accounting sector remained active as many companies adjusted their headcount plans in accordance with the global situation. Companies did not only hire to fill replacement positions, but new roles that supported transformation and growth were also created and filled.
Trends foreseen within the sector
“Coming onto 2022, we expect companies to put focus on business partners and stakeholders, as they are seen to be critical in the accounting and finance sector. We may also see some companies invite relevant stakeholders to be part of the interview process, as stakeholders can observe and provide feedback on the employees’ aptitude and how they can see themselves working together as business partners,” shares Kanruthai Somchitrmool, Manager of the Accounting & Finance team.
We also saw that more companies are more comfortable and have adopted the use of virtual platforms in their recruitment process, and this mode will continue in 2022.
Professionals with the relevant aptitude and experience in business partnering will be sought after
The skill sets that would be in highest demand in 2022 would be related to aptitude and experience in business partnering. This includes not only financial planning and analysis or commercial finance roles, but also skilled talent with operational experience.
Kanruthai foresee that companies will also be seeking skilled financial controllers and finance business partners who can work within matrix and lean organisation structures. This means professionals who are able to partner with the commercial team and/or manage finance operations would stand in good stead.
Accounting & finance professionals with experience in investment analysis or functioning will be in demand within the tech or start-up firms as many firms have entered start-up funding cycles that would require employees equipped with such skills.
Hiring managers who can share the firm's vision and plans will provide more assurance and confidence to talent, especially during this pandemic.
Tips for hiring managers when recruiting and retaining employees
Pointed out by Kanruthai, “As it has been quite challenging to entice potential candidates to change jobs during the pandemic since they are concerned about job security and how covid will affect businesses, hiring managers who can share openly the vision, plans, and how companies have coped, can provide more assurance and confidence to them.”
She also adds although it has been more challenging for hiring managers to screen potential candidates due to the lack of face-to-face interviews and engagement, they can ask more behavioural and application questions, such as how candidates would manage their work in a remote work environment and how they can ensure remote work arrangements will not affect their effectiveness or productivity. Some hiring managers can also choose to ask candidates to demonstrate in some practical examples how they can function as a business partner in today’s economic climate.
Salary to remain similar for the sector
“We expect the salary range in the accounting and finance sector to remain similar to that of 2021, which is between 10% - 20%. However, higher demand sectors, such as healthcare, tech and start-ups may be able to afford higher increments to candidates with sought-after skillsets,” concludes Kanruthai.
Find out more
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