Accounting & Finance Recruitment Market Trends Summer 2010

Recruitment Market Trends

Summer 2010Accounting & Finance RecruitmentAustralia

Ambition Market Trends Summer 2010 |

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Introduction

2009 proved to be a challenging year for employers, employees and recruitersalike, with local economic conditions being defined by a global financial crisisand a large degree of caution about the future.The employment market, always the first to be hit by economic downturns,took some real blows in the first six months of the year, with companiesbattening down the hatches for what many commentators believed was goingto be a stormy year ahead.As 2009 draws to a close however, there are a number of signs that the worstof the storm clouds may have passed us by. The financial markets are bouncingback with unrestrained enthusiasm, business confidence is booming and theunemployment rate continues to decline – all positive indicators foremployment market prospects in 2010.For employees, this is undoubtedly good news. For those currently looking forwork, the expanding economy represents an opportunity to re-enter theworkforce under favourable terms. For those already working, an increasingnumber of positions will allow employees to turn their attention from jobsecurity, back to career development (not to mention the opportunities forimproved remuneration).Whilst employers welcome the improving market conditions, they will also needto be prepared for the recruitment and retention challenges ahead. Companieswho react slowly to the change in conditions are in danger of losing keypersonnel, and those who intend to win the war for talent that is currentlybrewing will need to analyse all aspects of their recruitment strategies toensure they are capable of competing in an increasingly aggressivemarketplace.In such an environment, the value of working with a trusted recruitmentadviser has never been more apparent. Changes in market conditions will bringboth challenges to face, and opportunities to explore.At Ambition, we’re looking forward to meeting them both.Gavin HouchellManaging Director, Ambition Finance

Ambition Market Trends Summer 2010 |

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Contents

Introduction ....................................................................................................................... 2Economic Overview ......................................................................................................... 4Ambition Accounting Jobs Index ................................................................................. 5Demand Factors - What’s Happening Now? ............................................................. 6

Ch-Ch-Changes .......................................................................................................... 6Still an Employers Market - for now ................................................................... 6A Focus on Internal Skilling ................................................................................... 6Opportunities for External Up-Grades ............................................................... 7A Surprisingly Active CFO Market ........................................................................ 7Strong Demand for Management Accountants - and others ..................... 8Temporary and Contract Roles on the Up ......................................................... 8Sector Notes ................................................................................................................ 8

Supply Factors – What’s Happening Now? ............................................................ 10

Still Plenty of Accountants Looking for Work ...............................................10Aspirational Fluidity ...............................................................................................10Lowered Salary Levels = Increase Risk of Flight ............................................10Bonuses, STI’s and LTI’s ..........................................................................................11An Attractive Employment Destination ...........................................................11

Future Trends .................................................................................................................. 12

The Oncoming Challenge of Retention ............................................................12The Need to Refresh the Employer Brand .......................................................12Speed Will Kill ...........................................................................................................12

More Information ......................................................................................................... 13About Ambition ............................................................................................................. 13