Wage Demand and Supply
Wage Demand and Supply is helping Candidates leverage better packages.
There’s good news for candidates looking for accountancy jobs in Norfolk, as what could be described as a “perfect storm” appears to be giving candidates more leverage over pay and conditions.
“When it comes to negotiating moves into more senior accounting roles, a combination of market factors means that candidates seem to have the upper hand at the moment,” explains Justin Murray of Norwich accountancy recruitment specialists, Big Sky Additions. “The burgeoning economic picture means firms are growing and therefore need to recruit more accountancy staff in Norfolk, while we have also seen increased opportunities for accountancy jobs in industry which are often favoured by candidates due to higher potential salaries and the perception of a better work-life balance.”
Subsequently, more accountants are attracted by a move into industry, which in turn creates a shortage of newly qualified staff in specialist practice areas. “There’s a shortage of staff in specialist practice areas such as external audit, transaction services, corporate finance and tax, which is also exacerbated by the fact that the larger accountancy firms reduced their graduate intakes during the recession so there’s fewer ACA qualified candidates emerging,” explains Justin, who recruits for a range of temporary and permanent accountancy jobs in Norfolk.
Candidates realise that they have the upper hand and are starting to play firms off against each other to secure a better package: “Today’s candidates are more savvy than their predecessors and realise they can command higher salaries when securing their next move,” adds Justin.
Justin suggests that companies need to tackle the issue carefully: “In the short term, a radical overhaul of salaries and benefits packages may help to tackle the problem, but there’s always a danger of creating anomalies which quickly drive out previously loyal staff.” A focused, sustained drive for graduate recruitment will also boost the accountancy talent pool in the long term.
t: 01603 516230