Hiring intentions restrained across financial services
Demand for finance and accounting professionals in the financial services industry is expected to remain subdued over the first quarter of 2013, according to the 'Robert Half Financial Employment Report'.
The results are based on a survey of 300 Australian chief financial officers and finance directors across business services, construction, information and technology, manufacturing and logistics, mining, and retail and telecommunications.
While 42 per cent of finance executives in the mining industry planned to add new staff, only 27 per cent in financial services plan to expand headcount over the quarter, the report stated.
Financial services companies are also more likely to reduce positions compared with other industries (11 per cent versus 5 per cent across other sectors).
In addition, Robert Half found that only 13 per cent of respondents in financial services are 'very confident' in their own company's growth prospects compared to 67 per cent in the mining sector.
In spite of this, the survey found that skills shortages persist in finance and accounting across every industry, with 86 per cent of executives stating that it has been difficult to find suitably skilled professionals.
The most desired job candidates are in the areas of financial/management accounting (11 per cent), accounts payable/receivable (11 per cent), accountancy (10 per cent), tax and treasury (10 per cent) and business/financial analysis (8 per cent), the survey revealed.
According to David Jones, managing director of Robert Half in Asia Pacific, the job market for finance and accounting specialists has continued to stabilise between mining and non-mining states, increasing pressure on employers to rethink their retention and hiring strategies as "professionals will feel more confident making a move in a stable market".
"While the majority of Australia's senior finance professionals feel confident about their company's economic prospects, we still see evidence of the two-speed economy, with particular strength in the mining industry and weaknesses in financial services," Jones said.
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