How NZ Stacks Up: Results of the Global Monitor
6 September 2011
How NZ Stacks Up: Results of the Global Financial Employment Monitor
The accounting and finance employment market in many parts of the world may be in a state of transition, a new study suggests.
The Robert Half Global Financial Employment Monitor found that 83 per cent of New Zealand hiring managers believe it is challenging for their company to find skilled financial professionals in today’s market. This compares to 67 per cent globally.
Robert Half’s research also found that skill shortages are not being reported across the board but rather for specific skill sets.
In New Zealand, accountancy professionals appear to be in highest demand, with more than a third (41%) of employers indicating that accounting positions are the most difficult to fill, compared to just 22 per cent of employers globally. By comparison, 11 per cent of employers globally indicated that audit is the most difficult functional area to fill, whereas only 2 per cent of New Zealand employers have this problem.
The monitor was developed by Robert Half International and is based on surveys conducted globally by independent research firms. The study focuses on hiring difficulties and retention concerns and includes responses from more than 6,000 finance and accounting managers across 19 countries.
It also found almost two thirds (62%) of New Zealand managers are concerned about losing top-performing financial professionals to other job opportunities over the next 12 months. This compares to 56 per cent globally.
Robert Half general manager, Megan Alexander, says; “Many New Zealand businesses are becoming increasingly concerned about their ability to build and retain the accounting and finance teams they need to support the demands of their business.”
“In particular, we are seeing a shortage of candidates in roles paying up to $100k, rather than in more senior roles. Companies should ensure they have staff retention and attraction in the forefront of their minds, particularly at junior and intermediate levels, so they are able to respond quickly when growth opportunities arise,” advises Alexander.