Finance and Commercial Market Insights Quarter 2, 2017

Finance and Commercial Market Insights Q2 2017

Overview for Q2 2017

2017 started with an increased demand at the Accountant/Analyst through to Middle Management level, we are expecting demand to remain constant across these levels throughout the second quarter.

The senior end of the marketplace was predictably soft in Q1, opportunities in the market for c-suites and talented financial controllers looking to ‘take the next step’ don’t typically appear regularly until after Easter, our expectation is this market will start to gain momentum shortly.

In both Victoria and Greater Western Sydney our teams are experiencing solid demand in the FMCG sector for interim solutions to assist with transformation and systems projects, this demand is set to increase across Q2.

We are seeing a sharp increase in demand from start-ups and high-growth SME’s that have entered the next stage of their growth cycle where they are no longer able to rely on professional services firms or ‘satellite CFO’s  to manage their finance and commercial functions. These companies are enabling candidates from large corporates a more broad and entrepreneurial career path.

Skills in demand

The skill that every client is looking for is the ability to add value. Clients need finance professionals at every level who understand that the routine aspects of a position description are no more than 50% of a role.  In order to be truly successful candidates need to use their skills to improve business performance, whether that has an efficiency/effectiveness impact, enables better decision making or directly impacts top/bottom line.

Predictions for the rest of the year (and beyond)

Whilst there is still an element of uncertainty in the marketplace, most medium to large businesses have now completed their productivity and cost-out agendas or are winding them down. To improve the bottom line, companies are more than ever needing in-house finance functions to help drive growth and optimise business performance. There is good reason to believe that medium-sized corporations who have yet to bring ‘in-house’ functions that historically have been outsourced such as strategy, corporate planning and performance improvement, will do so over the next 12 months.

Throughout Q1 indications are that companies are getting serious about driving their own agenda, and the role that ‘value add’ finance professionals can play in this. We are excited about partnering with these proactive companies to connect them with talent that can directly impact future success and become leaders of the future. All market signs suggest we have every reason to be positive about the outlook for the rest of 2017.

In New South Wales we are increasingly seeing more businesses move to larger and cheaper office spaces in Parramatta and Greater Western Sydney which is helping to drive churn in these markets.   Good candidates with young families are also moving further West for affordable living. With the new airport at Badgerys Creek also having been announced we are expecting more and more businesses to announce moves to this area.

Advice for Employers

Move quickly, work in partnership with recruiters you trust, focus on hiring candidates who can influence success and overcome role specific challenges, and be decisive in order to secure the best talent that does more than just fill jobs.

Advice for Jobseekers

Learn to present yourself as a solution provider rather than a Financial/Management Accountant, Analyst, Controller or CFO. Focus on your achievements and demonstrated ability to ‘make a difference’. While employed, seek out opportunities to improve processes, add value to stakeholders and challenge the status quo. This will see you succeed in a hiring process and your ongoing career.