An emerging trend within New Zealand’s accountancy and finance market is the increasing number of senior finance roles that require a candidate who can provide analytical support and commercial management. These roles are no longer focused solely on closing the books each month, with businesses instead requiring candidates who can add value and act consultatively.In addition, improved data collection and Business Information (BI) tools are allowing significant wins from data mining and analysis.

Often new BI tools create the need for more accountancy hires since business improvement opportunities increase in line with better quality and larger volumes of data.

Consequently job growth is fuelling demand for candidates with the ability to carry out such tasks, such a modelling future demand for products and services, optimising processes and better understanding areas for cost savings.

Another trend is the increasing number of Shared Service Centres for accountancy support functions in large organisations.

Organisations are increasingly becoming more global in nature and ERP technology is allowing the centralisation of junior accounting roles.

The key driver here is cost savings and the efficiencies that economies of scale produce.

Finally, when they recruit employers prefer to secure candidates in permanent roles, particularly at the senior finance level where many vacancies are newly created.

Hotspots of demand

New jobs are being created and accounting teams are busy as businesses get on with business as usual. This is creating demand for Finance and Business Analysts since new ERP systems allow for more accurate and usable data.

Also in demand are Commercial Managers and Commercial Accountants. Finance is increasingly recognised as a core decision making paradigm and organisations need people who can explain analysis to non-technical audiences.

Management Accountants who can go beyond the financial accounts to unearth the drivers of business are valued. These professionals partner with management and advise them on the financial implications of their decisions. Many businesses are expanding into new markets and product lines, which has

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added to demand for these candidates.

Finance Managers are also sought. A good Finance Manager drives the team forward and delivers clear and meaningful financial reports to the management team. However high-performing Finance Managers are in short supply.

Financial Controllers are sought in large organisations so that the CFO can focus on big picture decision making.

Assistant Accountants are in short supply since they typically want to progress to senior roles. Strong candidates are engaged with their current employers through the provision of a career path.

Senior Assistant Accountants are another area of demand. Businesses are looking for skilled individuals who can complete the month-end component while also processing on the transactional side.

Company Accountants are needed too. Smaller companies and multinationals that have lean budgets are looking for these professionals.

Candidate trends

An increasing number of international candidates are applying to vacancies in New Zealand. In order to stand out, many of these candidates are completing or converting to the CA qualification.

Will you be able to secure a new permanent job in FY16-17? Forty four per cent of New Zealand employers expect to increase their permanent staff levels in the coming year, according to recruiting experts Hays. This far exceeds the 8% of employers who expect to decrease their permanent headcount.The findings come from the 2016 Hays Salary Guide, which is based on a survey of 419 organisations in New Zealand, representing 245,716 employees.

It shows that three-quarters of employers believe the skill shortage will impact the effective operation of their business or department in a minor (49%) or significant (25%) way and 76% expect business activity to increase in the year ahead.

It’s understandable then that 76% would consider employing or sponsoring a qualified overseas candidate in skill-short areas.

“We may no longer be a ‘rock star’ economy, but New Zealand still scores goals when it comes to maintaining a buoyant recruitment market,” says Jason Walker, Managing Director of Hays in New Zealand.

“There’s no doubt that employers are getting on with the task at hand by adding highly-skilled professionals to their headcount. They are confident that business activity will increase over the coming 12 months. And they have recognised the need to respond to the skill shortage by, amongst other strategies, becoming more willing to recruit from overseas.

“But one thing they aren’t doing, so far at least, is using salary to attract and retain highly-skilled professionals. Despite a steady job market and demand outstripping supply for such professionals, especially those with local experience, there’s no intention to make any substantial salary increases.

“For job seekers, our advice is to focus on the growing number of permanent jobs as they will create an opportunity to secure a role that provides immediate career advancement or a long-term career path. By focusing on your ultimate career goals, you can find a role that will help get your career to where you ultimately want it to be,” he said.

The Hays Salary Guide includes salary and recruiting trends for over 1,000 roles. It is based on a survey of 419 organisations in New Zealand, representing 245,716 employees, as well as placements made by Hays.

Get your copy of the 2016 Hays Salary Guide by visiting www.hays.net.nz/salary, contacting your local Hays office or downloading The Hays Salary Guide 2016 iPhone app from iTunes.

“Improved data collection tools are allowing significant wins from data mining and analysis.”

CANDIDATE TRENDS An increasing number of international candidates are applying to vacancies in New Zealand.

To find an office near you visit: hays.net.nz/office-locator