Are you planning to hire finance and accounting professionals in 2024? Talent shortages across the UK mean that it’s never been more important to ensure your recruitment processes are as efficient and effective as possible, especially with candidates becoming evermore selective.
Acquiring talented finance and accounting candidates has become increasingly competitive, and if you want to be in with a chance of succeeding, be mindful that time and speed are of the essence. What’s more, by accelerating your recruitment processes, not only will you attract the best talent, but you’ll also be conserving your own time, energy and resources.
More finance candidates moving to vibrant cities like Manchester
It’s no secret that recent political, economic, social and health events have impacted the UK workforce. Brexit, for example, has resulted in numerous international workers leaving the UK, and the pandemic has enabled many people to work remotely. As more Finance Managers, Financial Analysts, Management Accountants and Internal Auditors/Controllers choose to live and work in places that suit them and their lifestyles, we’ve seen a shift of workers moving away from the capital, and heading to the north-west to vibrant cities like Manchester, which has become a hub for business and commerce.
In 2021, Manchester was named the best city in the UK to live and work in, and with over 12,000 job listings, workers have a wealth of opportunities to choose from. Therefore, employers looking to fill finance and accounting jobs in Manchester now need to consolidate their recruitment efforts to give themselves a competitive advantage. Whilst recruitment is still busy across all areas of the northwest, we’re finding that private-equity-backed, Ecommerce, Property, Manufacturing, and Facilities Management businesses are particularly feeling the competition.
How many interview stages are optimal for a transactional or junior finance role?
Our Manager at Marks Sattin Manchester, provided us with some insights into the financial recruitment market in Manchester and some suggestions for what employers might find useful, particularly at the interview stage.
“Previously, two interviews were the norm for junior/entry or transactional finance roles, including Accounts Payable and Credit Control. The last six months have demonstrated the need for clients to move quickly and, wherever possible, make an appointment after one interview. This one interview can include more than one contact from a client, but it’s key in reducing the time between the first and second interview, and the risk of losing candidates.
Candidates in transactional finance are now receiving job offers within minutes, not even hours or days so the need for a client to demonstrate their commitment to a candidate is needed more than ever, and will be paramount to a candidate deciding to join one client over another.”
How does the current interview process need to change?
Current candidate interview processes can be too lengthy and are not reflective of how the candidate market is moving.
“From the first day of a candidate expressing interest to looking for a new role or indeed a particular vacancy, a lead time even for feedback on a CV needs to be less than 24 hours – anything else is really too long, so anything an employer can do to reduce this is hugely beneficial.
Typically,
transactional or junior part-qualified candidates are receiving multiple offers from anywhere between 24 and 72 hours. Three years ago, this would have been unheard of, as it was an employer-led marketplace. Now, we’re seeing that the employers securing the best candidates are ones who recognise the levels of competition out there, and they are striving to be more proactive and decisive, ultimately demonstrating their commitment to their chosen candidate.
Some owner-managed businesses are able to snap candidates up over and above more ‘corporate’ clients where a higher level of red tape is involved. This is a huge benefit, however, we do appreciate that not all companies can operate in this manner.”
Let us help you find the best accounting and finance talent
Marks Sattin is the UK’s largest dedicated finance and accountancy recruiter. Our office network covers Birmingham, Dublin, Leeds, London, Manchester, Bristol, Amsterdam and Reading, and we operate three main divisions recruiting into Commerce & Industry, Financial Services and Professional Services.
We continue to source temporary and permanent professionals across all levels of finance - from entry-level transactional roles to board-level appointments within practice, commerce and public services. With over thirty years of experience finding the right talent for organisations, our teams have the best skills, knowledge and experience to provide the best possible advice. If you’re looking for assistance finding the right finance and accounting talent for your business in Manchester, get in touch today and let us help you.
