2010 has been a year of transition for accountants.
- An increase in demand for contractors as business transformation programs and regulatory changes gather pace. Many roles have been filled with internal resources to date with BAU roles being back filled. As projects gather pace expect to see candidates with experience in implenting management information systems become hot property
- Roles in the $150k – $300k range will increase as businesses look externally for staff at this level. There are a number of roles at this level right now although competition remains tight. Back fill opportunities should create significant movement in the next six months.
- Big changes across finance teams as employees finally move on after several years in the same role. It is reported that approximately 60% of the work force are currently looking to change jobs/companies
- A growing skills gap for decision support roles as financial services groups move towards “business partnering” models. It is difficult to find accountants in the $100k – $150k who can display commercial accumen. Expect competion to increase further in 2011. Accountants are being encouraged to softer skills such as presentation and influencing.
- Some job cuts in lower level processing/technical accounting roles as functions move offshore. Business transformation projects include the movement of jobs to off shore central functions.
- An increase in salaries of around 5% is expected in 2011. However there will be far greater pressure on salaries throughout 2011 as the market continues to improve.
- Diversity across the work force will continue as ASX puts pressure on the banks to increase the number of female executives. Expect to see more flexible working arrangements offered to employees as the banks battle to retain top talent.
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