Productivity and efficiency will be a top priority for finance management in 2023. The need for finance talent will remain high, but we do expect demand for operational profiles to grow less, due to automation and outsourcing of certain activities. Employees will be expected to be flexible and to take on the role of a true business partner.
Özlem Simsek, managing director at Robert Walters, says: "Organizations looking to bring new talent on board are advised to look not only at candidates’ past experience, but also at their potential, business acumen and communication skills. Remember that hard skills can be taught. When potential employees are aware that a personal development plan is available within the organization, they are also more likely to take the plunge to commit on the long-term."
Özlem explains: "Just because the job market is so favorable today, finance professionals have high expectations when considering a new job opportunity. Job content remains the most important player, but employees increasingly look at the total package: the sustainability of the organization, the personal fit with colleagues and their manager and the possibility of flexible working increasingly play a decisive role in their choice of a new employer. As an organization, it is therefore important to put extra emphasis on these factors during the recruitment process and act quickly to bring in the right talent."
The expected salary indexation will obviously have a significant impact on organizations, but Robert Walters' 2023 salary survey reveals that almost half of the professionals surveyed (44%) expect a salary increase on top of the indexation. 81% even hope to get a pay rise of 6% or more.
Looking at employers' plans, 49% plan to grant their employees a pay rise in 2023, on top of the expected indexation. In terms of bonuses, finance professionals need no fear either: 69% of surveyed employers plan to grant a bonus in 2023 as well.
"Salary expectations are indeed immensely high at the moment, and that does not make it any easier for organizations to keep people on board and to attract new talent," says Els. "If an organization does not manage to grant a pay rise on top of salary indexation, we advise employers to look at other ways to reward staff and new employees. Examples are fringe benefits such as education and training, but also more variable pay. In any case, we recommend to invest in staff retention, especially now that the labour market is so tight," concludes Özlem.
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