It’s safe to say that 2023 has seen a mix of ups and downs within the world of recruitment, from a challenging hiring crisis that lingers on to forward-thinking firms rising to the challenge by giving their pay and perks packages a lease of new life. From our position as experts in recruiting accountants into practice, we’ve seen how this fast-changing and at times unpredictable hiring landscape has evolved over the year. So, how is 2024 predicted to shape up in the world of recruitment? Explore our thoughts below and start preparing now to ensure you come out on top in 2024.
All hail AI
Whether you’re embracing artificial intelligence (AI) within your day-to-day job or if you’re resisting the rise in tech for as long as possible, there’s no denying the impact AI has had on accounting, and it doesn’t look like this is going to stop in 2024. The development of technology will only continue and forward-thinking firms will be embracing modern ways of working to ensure they’re at the forefront of the sector. As such, it’s likely that technological skills will be an even higher priority for hiring managers when searching for first-class candidates as we go into next year.
Technology is helping accountants across the board, from data management automation to content creation tools, and accountants who are keeping a keen ear towards new developments are sure to stand out from the rest. If you can identify a new tool or process that will reduce labour and boost efficiency, you’ll show your potential employer that you can add real, immediate value to their firm.
Casting the net wider
Gone are the days when a firm would find the perfect candidate within a commutable distance from their office. As a result of the ongoing skills shortage and the rise in flexible working, firms are looking at new ways to find top talent. This is likely to shift into next year as the skills gap continues to grow and more hiring managers adapt to new hiring methods. This is a great opportunity for career-driven candidates who are looking to work with top firms that were perhaps previously geographically out of reach.
Hybrid is here to stay
Despite some companies still being opposed to hybrid working options, flexibility within the workplace is set to continue throughout next year. In fact, companies that initially brought their employees back into the office are now embracing hybrid approaches, with 80% of bosses reported to regret their initial return-to-office decisions. Not only does hybrid working allow firms to cast the recruitment net wider, it offers a wealth of benefits for both employers and employees. This is great news if you’re a talented accountant looking for a varied role with the benefit of an improved work / life balance.
Diversity, equity, and inclusion
Embracing equity is about recognising the diverse perspectives and approaches brought to the workplace by different genders, ethnicities, and backgrounds, as well as recognising the varying needs and priorities and understanding how to offer the right support for everyone. We all have a part to play, whether we can change policies, challenge stereotypes, or call out bias. Through collective activism, we can create an inclusive world. And this is set to be an even bigger focus for firms in 2024, as forward-thinking companies evolve their company values to ensure inclusivity for everyone.
The accounting industry is known for traditionally lacking diversity, so it’s great to see firms making positive steps to improving the policies in place that will open the door to more candidates. This is also great news for progressive professionals that want to work with a firm that champions equity in the workplace. Here at Public Practice Recruitment Ltd, we only work with inclusive firms and it’s important to us to place candidates within teams where morals and values align.
Salary transparency
You’ll typically see a salary guide on a job advert and sometimes it can seem quite broad. This is particularly common within accounting as skillsets between comparative candidates for the same role will vary significantly. However, some companies continue to recruit without disclosing a salary bracket, but this is predicted to change over the coming 12 months as candidates push for greater transparency. It could be argued that a firm would consider the role’s salary on a case by case basis, where the candidates qualifications, experience, and skills are evaluated before a salary is suggested. However, this often leads to disappointment.
If you’re an accountant looking for a new job, you’ll likely know what salary you want to secure, based on your current pay and market research, and it will be frustrating to find out that the hiring firm can’t meet these expectations only after a lengthy application and interview process. In our opinion, this is a promising prediction for 2024, allowing candidates to apply to jobs based on suitability and potentially avoiding wasted time for everyone.
Are you an accountant looking for a new job in practice? We work closely with candidates from Semi Senior all the way up to Partner level, and we’re here to make sure your CV is seen by the right people. Rather than wait till the hiring rush in the new year, the run up to Christmas is actually a great opportunity to secure a new role whilst others slow their efforts, and we’re here to help.
‘The PPR team isn’t slowing the pace as we approach Christmas and neither should you! There are firms up and down the country in need of talented accountants, just like you, and whilst others push their job search into the new year this is your chance to secure the right role for you. A big theme we’ve seen during 2023 is a rise in acquisitions amongst firms and it’s likely this will continue in 2024. Firms are grouping together and as these companies grow, the market is likely to see a shift where firms start to have more control over employment terms. So, now is the time to find a new role in practice, while it is still a candidate driven market!’ – Garry Howling, Managing Director
Whether you’re ready to start applying or if you’d benefit from some expert advice on next steps for your practice career, contact our team today.
