Job candidates in the accounting and finance sectors will face increased pressures to prove their worth to prospective employers despite the buoyant outlook for jobs in 2012, according to the latest employment research.
The Hudson Accounting and Finance Salary and Employment Insights 2012 report found competition between employers was intensifying due to a skills shortage and higher salary demands, resulting in hiring managers placing more emphasis on value when assessing candidates.
“To justify the increased cost of hiring the best talent, some 21 per cent of managers wanted to see more years of experience, 21 per cent were looking for a particular strength and 21 per cent expected a faster ramp up,” it said.
The market outlook for jobs remains buoyant, with 26 per cent of employers stating they would increase full-time staff numbers in 2012.
However, increasing salary demands were placing greater demand on candidates to “demonstrate their ability to make a tangible contribution to the bottom line”, the report said.
“There is still scope for a pay increase in a marketplace that remains competitive for accounting and finance professionals, but employers are taking a more conservative approach,” Hudson accounting and finance national practice director Dean Davidson said.
“Now even top candidates have to do more to prove their worth.”
Employers also highlighted concerns about losing their top performers, with 67 per cent admitting it created more pressure to secure the best employees, while 40 per cent of hiring managers believed it was harder to secure the right candidates in 2011.
A greater emphasis on attaining the best workers could now be expected, as organisations discovered that cheaper candidates could sometimes be more costly, with 44 per cent of hires described as ‘not good’, the report said.
Hudson surveyed 1281 employers and 928 employees for the report.
