In the first half of 2024, the number of finance vacancies increased by a whopping 19% compared to the same period last year. This growth reflects the ongoing shortage of finance professionals in the market. Robert Walters reflects on the past half-year and provides a picture of the current job market.
"Despite the talent shortage, organisations are taking a cautious approach to recruitment: they are more selective and will only come to a deal when all their requirements are met. Candidates are also showing opportunism: only with a fulfilled wish list will they take the plunge into a new job," says Marie Parmentier, manager at Robert Walters.
Marie: "There is significant demand for finance professionals with strong IT skills, especially in ERP and BI systems. In addition, many organisations are setting up an ESG (Environmental, Social, and Governance) team, often led from the finance department. This offers excellent opportunities for finance professionals looking to specialise in ESG."
The positions most in demand include controllers (both financial and business), internal auditors, and accountants of all experience levels, ranging from junior accountants to GL accountants, senior accountants and chief accountants. In banking and insurance, the most in-demand positions are found within compliance, sales and reporting & controlling.
Economic challenges during the first half of the year have prompted organisations to adjust their recruitment strategies.
"The number of temporary finance positions, especially within accounting, increased by 45% in the first half of 2024 compared to the same period last year," Jens Spittael-Speeckaert, associate director at Robert Walters, tells us. "Companies are becoming more conscious of their recruitment budgets, and are therefore more often opting for temporary contracts (possibly with an option for permanent) in order to avoid the risks of mis-hiring and to bridge periods of labour shortages. This offers flexibility and helps to control costs in economically uncertain times."
"There are also plenty of opportunities for new graduates within finance: the number of vacancies for recent graduates has increased by 18% in the past six months compared to the first half of last year. Interestingly, due to the ongoing shortage of accountants, companies are now open not only to beginners, but also to retirees. More and more companies are hiring retired accountants for temporary positions to provide additional support or to replace permanent employees during their absence. There is also a growing interest among retired accountants to remain active in the labour market through temporary positions," Jens said.
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