Friday 3rd July, 2015

According to Robert Half’s latest Professional Hiring Index, senior finance executives from businesses operating in the North plan to increase staff levels significantly over the next six months.

More than two in five (43%) senior finance executives across the North predict that they will create new jobs in the second half of 2015 (up 15% from this time last year), while nearly half are planning to hire for vacant roles.

The continued rise in the UK hiring forecast indicates that post-recession confidence has now stabilised and steady growth is on the agenda. As a result of this growth, there is stronger competition for accounting and finance professionals and the vast majority of CFOs in the region (90%) say that it is challenging to find skilled finance professionals today.

Reasons for the skills shortage according to CFOs are a lack of niche, technical experts (cited by 50%), general demand outweighing supply (33%) and lowered intake of trainee accountants and/or slowed hiring during recession resulted in lack of candidates with the right skills (10%).

The growth agenda is increasing headcount for the following three reasons: two thirds (65%) said they would hire to provide resources for new projects and initiatives, 59% pointed to domestic business growth or expansion, while 29% cited upgrading financial systems.  

Higher confidence among workers in the North is a top driver behind the stronger employment market, according to 40% of CFO’s, while economic climate (38%) and higher confidence among employers (33%) were also cited as helping to build momentum.

Ed O’Connell, Executive Services Director, UK North, Robert Half said, "Northern businesses are optimistic about growth and are hiring to support growth plans. The demand for permanent and interim professionals in accountancy and finance will only continue to build over the next 12 months."

“Businesses in the North are seeking specialised talent with a strong track record of delivering value, which in turn is further extending the skills shortage. As we head into the second half of the year, companies who are looking to hire should do so quickly as accounting and finance professionals on the market today are often receiving multiple offers.”