Trends in finance and how they will assist with recruitment and retention!

As a result of companies having to restructure during the dreaded ‘downturn’, there has been an emergence of trends across the finance industry.  All firms are acutely aware of the high risks of failing in risk management. As new technology emerges, risk management strategies are being implemented across the business and they are being driven in conjunction with the finance team.

Accounting systems have moved into the cloud. New systems have evolved rapidly and they have become an essential part of business for many firms as they allow the use of cloud based software to be used from any device over the internet. This allows firms to be flexible with working hours and the option for staff to occasionally work from home. These types of perks are huge benefits to assist with attracting quality candidates. 

Accounting is practically running 24/7 as a result of automation. This automation is allowing companies to reduce transactional costs. 

Cloud based systems also assist with reducing business costs as firms can share their bookkeeping with their accountant over the cloud which increases efficiencies, saves time and money.   Accountants are able to work in real time with their clients. This collaboration across accountancy software is on the increase and those practices who take up the software find themselves in a competitive position against the more traditional firms.

We are also seeing an upward trend in the requirement for data analysts and although analysing data has always been a requirement in management decision making, companies are now seeking qualified and experienced analysts to ensure correct information is at their fingertips.

With increased automation, technology is the selling point for attracting people to your company. Think digital. Embrace cloud technology, embrace the idea of flexible hours and flexible working location, liaise in real time with clients and your company will be highly attractive to the new generation of accountants and financial professionals.

Technology is racing at speed through the industry! As it continues its trend there will be a host of changes and innovations – the finance manager will need to be ready, embrace the changes, embrace the technological innovations and keep on top of the competition which will allow you to attract the top talent!

Maria Weafer
Recruitment Team Lead
Accountancy & Finance Specialist  

Looking for a candidate in the Finance sector or looking for a position? Maria Weafer has a wealth of knowledge in this area, contact her today on 01 969 5427 or email mweafer@celticcareers.com