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4 Accountancy Recruitment Trends To Watch Out For In 2024
09 Nov, 20231-2 minutes
In this blog, you will learn:
- 4 accountancy recruitment trends to watch out for in 2024.
- Examples of diversity and inclusion initiatives when recruiting.
- Accountancy and finance recruitment services available to your business.
The world of recruitment is constantly evolving with the times and it can be difficult to keep up to date with recruitment trends and changes in the accountancy and finance industry. However, anticipating accountancy recruitment trends for 2024 is crucial for employers looking to recruit new staff.
A survey by EY found that a third of global employees are planning to change jobs in the next 12 months, and that the challenging economic conditions are not acting as much of a deterrent.
In order for employers to access wider talent and gain a competitive edge in attracting top candidates, it’s more important than ever to stay ahead of the curve and embrace the latest accountancy recruitment trends.
From the integration of artificial intelligence to the increasing importance of diversity and inclusion, this blog explores the top recruitment trends for accountancy practices to watch out for in 2024.
4 accountancy recruitment trends to watch out for in 2024
As the sector evolves, several key trends are expected to shape the accountancy recruitment landscape in 2024. It is not specific to any particular job role or level of profession, Tax Managers, Payroll Managers, Financial Advisors, all are part of this wave.
Here are some accountancy recruitment trends for employers to watch out for in 2024:
- Create a personal development plan with employees.
- Embrace advancements in technology and Artificial Intelligence.
- Offer hybrid work models.
- Offer diversity and inclusion initiatives.
Create a personal development plan with employees
In order for your accountancy practice to thrive, it is important for individual employees to also be able to progress and develop. Accountancy professionals are actively seeking progression opportunities and organisations that offer development plans will continue to flourish in 2024.
In order to recruit the best talent for your accountancy practice, it is important to demonstrate to potential employees that you value their skills and offer opportunities for career development.
As organisations look to bring new talent on board, it is important to consider candidates' potential business acumen and communication skills as well as their past experience.
Research from HR magazine found that only 15% of employees have regular career growth conversations and just 13% of employees said they have a clear career growth path. This demonstrates that there is a demand for employers to consider employee growth and development.
Therefore it is significant to be able to adopt the personal development trend for each individual employee. In the recruitment process, mention the value of such a plan and how it is important to create one for each employee.
This level of individual and specific planning, would demonstrate to potential employees that your accountancy practice recognises and encourages improvement, growth and success.
It could also increase employee retention for those already within the practice who are looking to upskill and progress. Building an internal talent pipeline allows companies to remain competitive against other practices and retain top performing members of staff.
Embrace advancements in technology and Artificial Intelligence (AI)
Technology has been increasing and progressing in all industries for many years and will no doubt continue to reshape and prevail into the future. Technology already plays a pivotal role in the accountancy sector and it is a trend that’s expected to continue through to 2024.
Technology is key to adding value, but according to ACCA, for some the pace of change is overwhelming, with 63% indicating that they would like more training in technology from their employer.
In order to stay relevant, practices need to adopt a culture of innovation and staff must be trained in how to use new technologies and tools. It’s not always clear to potential employees which practices are ahead of the curve, therefore it is important for employers to lead the way and set themselves apart. As a company, be vocal about your adoption of the latest technologies to help attract and retain staff.
Throughout the recruitment process, it’s important to seek out candidates with experience and knowledge of the latest emerging technologies to assist in driving the future of the business.
Offer hybrid work models
Since the Covid-19 pandemic, working from home or hybrid working models has become a common practice for all workplaces. The adoption of hybrid work models continues to be a trend as more jobseekers expect flexibility in work arrangements and the ability or option to work remotely.
Data from Economic Graph shows that 45% of roles advertised on LinkedIn are hybrid to accommodate the needs of the employee landscape. By incorporating this trend into your recruitment strategy, you can increase your chances of hiring the best talent.
According to the Chartered Institute of Personnel and Development, 12% of employees changed their careers due to a lack of flexible working options. Offering a hybrid work model to potential employees is a great way to beat the competition and gain access to the best talent regardless of their location.
According to ACCA, 83% of people would like to work remotely at least one day per week in the future. Therefore, it is important to consider embracing this trend to appeal to a wider talent pool and show that you value your employees' needs.
Diversity and inclusion initiatives
Employers are placing greater emphasis on diversity and inclusion in their recruitment strategy as it is critically important to recognise the need for equality and diversity in the accountancy and finance sector.
A survey by Skills, Retention and Attraction confirmed that 57% of UK businesses regard diversity, equity, and inclusion (DEI) as a strategic priority when recruiting new staff. This trend involves hiring diversely to disregard unconscious bias and make employees from a range of backgrounds feel equally welcome.
Diversity and inclusion is an area of growing focus for all and many companies are looking to boost the diversity of their workforces. Offering a more inclusive workforce is a trend that isn’t only beneficial, but demonstrates that the company is aware of the barriers that some people still face and are actively trying to offer equal opportunities.
A diversity-led recruitment strategy could open up a wider candidate market to enable the best talent from all backgrounds to feel encouraged to work for your accountancy practice.
Inclusive initiatives provide equal opportunities and could improve the productivity and profitability of the company.
Examples of diversity and inclusion initiatives when recruiting
Examples of diversity and inclusion initiatives when recruiting include:
- Write/advertise inclusive job descriptions and be mindful of inclusive language.
- State your intention to hire diverse candidates in job descriptions.
- Widen your candidate search to include diverse groups and pools of talent.
- Set overall goals for representation in your recruitment strategy.
- Demonstrate a company culture that is inclusive.
- Appoint a diverse interview panel.
Accountancy jobs
Searching for your dream accountancy job? Check out all the latest opportunities available with us now! Alternatively, simply upload your CV and we will contact you when a relevant job opportunity becomes available!
If 2024 is the year for a new challenge, why not check out 24 job search tips for 2024 or 9 creative job search tips to help you on your way!
Accountancy recruitment services
Recruiting in 2024? Check out how to write a job advert that actually works in 2024.
Need some assistance with your recruitment strategy? Discover all the recruitment services available or reach out to our Management Consultant, Lauren Bailey, who can discuss your options in more detail.
You can also check out how recruitment agencies give you a competitive edge in the fight to recruit the best talent in 2024.
Meet Lauren Bailey
Who is Spencer Clarke Group?
Since 2017, we have gone above and beyond to reshape and innovate the recruitment industry. From the way we match candidates and clients, to the culture in our office, we are passionate about defying expectations and challenging convention.
We understand how important it is to find candidates a job that has the ability to boost their salary and mental health, better their standard of living and encourage a healthy work life balance.
As we continue to evolve and influence, we aim for a brighter future for all. From individuals seeking a change in career to enterprises looking to expand and develop, we are passionate about effecting positivity and change.
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