Accountancy Practice Market Report, Autumn 2020

Is life returning to the accountancy jobs market? The people with the inside knowledge can be found in the Harvey John Finance and Accountancy team.

Here are the Autumn market reports for Public Practice and Insolvency…

Where to start?

Let’s start with a positive comment:

There is employment activity in the public practice and insolvency jobs market!

Before we get ahead of ourselves, as expected, it is a subdued market but, encouragingly, there are pockets of activity. For some candidates the market is very active with multiple interviews to attend and job offers to compare. For others, it’s a very frustrating, demotivating time with very little traction in their search. As expected across all sectors, the increase in candidate numbers and those looking for work far outweigh the opportunities available.

In terms of the commercial senior finance market over the past quarter we have seen some movement, but as expected numbers are down, year on year. This remains a highly competitive market with fewer opportunities coupled with a saturated candidate market.

There is more movement at the transactional end of the market due to possibly more fluidity with candidates moving around as well as seeing a number of newly created roles being registered demonstrating a positive outlook from some clients.

Practice is hard to read with some firms holding out on hiring new talent whilst others are in full throttle hire mode. But yes you’ve guessed it, auditors are still in demand!

Overall, we are finding the public practice market relatively buoyant and dare we say it, retaining an element of being candidate driven. If you have current relevant practice experience, more than likely we will be able to facilitate a move for you. Making a move from practice to industry will be tougher in this market due the numbers with industry experience being on the market.

What we all have to remember in this climate is to remain positive. It is not a time to apply to every vacancy that is posted and hope one application sticks as that will most certainly lead to a demoralising situation. Work on your CV, your interview preparation, seize every interview opportunity as best as you can and work with recruiters who are niche in your market.

Where are the jobs? 

Recruitment nationally has taken a steep jump up since this time last year, with the lower level of experience. Administrators and Senior Administrators) maintaining higher demand, and a definite increase in more senior positions (Manager, Senior Manager).

Market trends

The insolvency market, at the beginning of the year, faced the same challenges as many others within the financial sector. Recruitment wise, an initial slowdown took hold during the early months of lockdown, as the logistics of home working occupied the majority of firms. However, the sector, somewhat unsurprisingly, seems to be bracing itself for a steady rise over the next 18 months.

Mobility within the workplace seems set to remain within the sector, with firms looking to carry flexible working into their futures.

Is confidence returning? 

As firms await the end of the government’s financial assistance packages, they are seeking to bolster and strengthen their teams, with experience in a mixed background increasingly popular.

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