# Financial Recruitment Trends to Look Out for in 2020
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2020-03-04
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: 2020/21 Finance Recruitment Trends: Rising Salaries, New
Meta Description: Stay ahead with Howett Thorpe's latest insights on finance recruitment trends for 2020. Discover salary lifts, new business recruitment tactics, talent gap
URL: https://financedigest.com/financial-recruitment-trends-to-look-out-for-in-2020html

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_By **Howett Thorpe,** a finance recruitment specialist based in Surrey._

Staying up to date with the latest financial recruitment trends and leveraging new technologies is crucial — both for job searching and the hiring process.

The finance and [accounting sector](https://www.financedigest.com/demand-from-retail-food-and-beverages-sector-to-account-for-over-70-of-refrigerated-display-cases-sales-study.html "Demand from Retail Food and Beverages Sector to Account for over 70% of Refrigerated Display Cases Sales: Study") has been going through some significant changes lately. So, let’s take a closer look at some of the key [finance trends](https://www.financedigest.com/top-fintech-trends-for-2021-enabling-smart-and-secure-finance.html "Top Fintech Trends for 2021 Enabling Smart and Secure Finance") we can expect to affect the recruitment industry over the coming year…

1. **Rising salaries**

A lack of [pay](https://www.financedigest.com/uk-finance-regulators-should-pay-heed-to-energy-security-policy-says-sunak.html "UK finance regulators should pay heed to energy security policy, says Sunak") rises has been a familiar theme for many accountants and financial controllers in recent years. Salaries can vary greatly depending on candidates’ qualifications. However, we’re now seeing many candidates receive multiple offers where [top talent](https://www.financedigest.com/techie-turn-offs-top-7-things-that-put-talent-off-applying-for-tech-roles.html "Techie turn-offs: Top 7 things that put talent off applying for tech roles") has been at a premium, which in turn pushes the salaries bandings up.

Through 2020, we can also expect a lift in salaries for accounting and [finance roles](https://www.financedigest.com/whose-role-is-it-anyway-why-finance-underpins-data-led-digital-transformation.html "Whose role is it anyway? Why finance underpins data-led digital transformation") across a variety of markets. This is largely [due to sustainable levels of growth](https://www.financedigest.com/robot-operating-system-market-is-witnessing-a-sustainable-growth-due-to-increase-in-demand-scrutinized-in-the-new-analysis.html "Robot Operating System Market is witnessing a Sustainable Growth Due to Increase in Demand Scrutinized in the New Analysis") and heightened employer confidence. For further details on salary trends within commerce and industry across the South East, download our [2020/21 Salary Survey](https://howett-thorpe.co.uk/finance/salary-survey/).

2. **Updating new** [business recruitment strategies](https://www.financedigest.com/albumin-market-in-depth-analysis-business-strategies-and-growth-rate.html "Albumin Market In-depth Analysis, Business Strategies, and Growth Rate")

In the past, newly established businesses have been slow to hire their [heads of finance and financial controllers — preventing them from reaching their growth](https://www.financedigest.com/global-growth-headed-down-as-inflation-surge-to-endure.html "Global growth headed down as inflation surge to endure") goals. However, these [types of companies](https://www.financedigest.com/immunology-drug-market-growth-by-top-companies-trends-by-types-and-application-forecast-analysis-to-2030.html "Immunology Drug Market Growth by Top Companies, Trends by Types and Application, Forecast Analysis to 2030") are now starting to realise the value of hiring strong accounting and finance professionals early on in the venture.

By taking a [proactive approach to their recruitment strategy](https://www.financedigest.com/closing-the-door-before-the-horse-bolts-developing-a-proactive-network-detection-and-response-ndr-strategy.html "Closing the door before the horse bolts: Developing a proactive network detection and response (NDR) strategy "), founders can hope to build a strong financial backbone. This tactic will help them to meet their [revenue targets and stay on top of technical accounting challenges](https://www.financedigest.com/mldw-technology-market-size-share-top-leading-companies-consumption-drivers-trends-forces-analysis-revenue-challenges-and-global-forecast-2028.html "MLDW Technology Market: Size, Share, Top Leading Companies, Consumption, Drivers, Trends, Forces Analysis, Revenue, Challenges And Global Forecast 2028").

3. [**Bridging the talent gap**](https://www.financedigest.com/fiat-republic-the-specialist-baas-platform-that-bridges-the-gap-between-web3-and-traditional-banks-announces-it-has-become-an-electronic-money-institution-emi-in-the-uk.html "Fiat Republic, the specialist BaaS platform that bridges the gap between web3 and traditional banks, announces it has become an Electronic Money Institution (EMI) in the UK.")

Competition is rife for skilled accounting and finance professionals. However, [despite high demand](https://www.financedigest.com/oil-rises-on-strong-crude-demand-despite-china-fears.html "Oil rises on strong crude demand, despite China fears"), many companies are struggling to fill vacant roles due to growing skills shortages and a lack of suitable applicants.

[Advances in technology are changing the requirements of finance](https://www.financedigest.com/how-advanced-self-service-technologies-are-changing-the-face-of-finance.html "How Advanced Self-Service Technologies are Changing the Face of Finance") and accounting jobs. Now, candidates need to be able to do more than just crunch numbers. They [need diverse business](https://www.financedigest.com/3-reasons-your-business-needs-customer-reviews.html "3 reasons your business needs customer reviews") and technology experience, as well as a range of soft skills.

To [address these skills shortages](https://www.financedigest.com/exclusive-danone-ramps-up-u-s-baby-formula-shipments-to-address-shortage.html "Exclusive-Danone ramps up U.S. baby formula shipments to address shortage"), organisations will need to rethink their recruitment process to tap into new talent pools filled with strong, technically skilled candidates.

4. **Attracting millennials**

Attracting younger members to the workforce has been a salient [challenge for the financial recruitment industry](https://www.financedigest.com/keeping-ahead-of-network-challenges-in-the-finance-industry.html "Keeping ahead of network challenges in the finance industry"). Some [companies have been fearful of hiring millennials because of lack](https://www.financedigest.com/companies-climate-disclosures-still-lacking-task-force.html "Companies’ climate disclosures still lacking -task force") of experience and a supposed entitlement syndrome.

In many markets, millennials are already demonstrating that what they might lack in experience, they more than make up for in soft skills, enthusiasm and a willingness to learn. To help plug the talent gap in the finance and accounting sector, [businesses need](https://www.financedigest.com/do-small-businesses-need-branding.html "Do small businesses need branding?") to be diving into this extensive talent pool of future leaders.

5. **[Harnessing the power](https://www.financedigest.com/harnessing-the-power-of-super-deduction-for-business-growth.html "Harnessing the power of super-deduction for business growth") of AI**

Understandably, there has been some concern that a rise in [artificial intelligence](https://www.financedigest.com/types-of-artificial-intelligence.html "artificial intelligence") might threaten the security of accounting and finance jobs. However, rather than replacing these roles, AI will likely make them more interesting by [improving functions and processes](https://www.financedigest.com/keep-your-head-in-the-cloud-improving-the-order-to-cash-process.html "Keep your head in the cloud: improving the order-to-cash process").

By taking a lot of the tedious and repetitive tasks out of the [finance sector](https://www.financedigest.com/is-automation-key-to-esg-success-in-the-banking-and-finance-sector.html "Is automation key to ESG success in the banking and finance sector?"), artificial intelligence will allow finance and accounting professionals to spend less time on day-to-day admin tasks and more time on high-value work instead.

When it comes to recruitment, candidates will need to demonstrate a good understanding of and a willingness to adapt to these [technological developments](https://www.financedigest.com/nano-one-awarded-10-million-from-sustainable-development-technology-canada.html "Nano One Awarded million from Sustainable Development Technology Canada").

6. **Increasing demand for auditors**

Thanks to ever-changing laws and regulatory requirements, the accounting and finance sector is starting to see an increased demand for audit roles.

Historically, this function has been the policing agent of the company. Nowadays, audit [roles are starting to become much more involved in making strategic and valuable](https://www.financedigest.com/now-is-the-time-for-finance-leaders-to-take-on-a-more-strategic-and-valuable-role.html "Now is the time for finance leaders to take on a more strategic and valuable role") decisions about the direction of the company. Internal audit now also plays a part in helping [businesses to integrate AI into their systems and automate processes](https://www.financedigest.com/what-businesses-can-achieve-with-microsofts-full-suite-of-process-automation-tools.html "What businesses can achieve with Microsoft’s full suite of process automation tools").

As such, these types of roles are starting to [emerge as a fantastic value-add for companies across all markets](https://www.financedigest.com/cup-holder-market-emerging-industries-challenges-and-threats-faced-by-key-vendors-and-global-business-outlook-till-2031.html "Cup Holder Market Emerging industries, Challenges and Threats Faced by Key Vendors and Global Business Outlook till 2031"). This is a real [shift in thinking from the days](https://www.financedigest.com/dollar-set-for-biggest-two-day-fall-since-2009-as-rate-outlook-shifts.html "Dollar set for biggest two-day fall since 2009 as rate outlook shifts") when they were seen strictly as agents of governance.


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