Kiwi firms planning to hire accounting and finance

Kiwi firms planning to hire accounting and finance staff


In the latest sign that the worst of the downturn may be over, almost half of Kiwi companies are planning to hire additional finance and accounting staff over the next six months. That’s according to a new survey by global recruiters Robert Half International.

The Robert Half 2010/2011 Finance & Accounting Salary Survey, which surveyed professionals in Australia, Japan, Hong Kong and Singapore as well as New Zealand, found that 47% of respondents with staff management responsibilities plan to add employees. Those surveyed said demand will be strongest for middle management roles, rather than more junior or senior personnel. Thirty-nine percent of those surveyed said they did not plan to recruit more staff and 14% did not know.

“We’re seeing a pick-up in newly created roles in finance and accounting in a wide variety of companies, which is great news for the industry and wider economy,” said Megan Alexander, General Manager of Robert Half New Zealand. “That’s spurring a greater number of candidates to get out there and look for fresh opportunities. And candidates who are successful are managing, in some cases, to negotiate more money and better conditions.

“The very best candidates are starting to get multiple offers. They’re also more open to taking calls from head hunters, signalling they’re not so fearful of losing their current position.”

During the first quarter of 2010, many New Zealand companies were in a wait-and-see mode, unsure whether the worst of the economic downturn was over. Alexander said there are tangible signs that increased hiring of good finance, accounting and technology personnel is happening and will continue.

The bulk of the hiring will be at middle management (31%), with a smaller portion getting taken on at senior levels (14%), according to the Robert Half Salary Survey. Although there will also be smaller levels of employees added at entry (9%) and management / executive levels (5%)*.

“Companies are looking for finance, technology and accounting staff in hands-on roles,” said Alexander. “As businesses start to grow again, more processing is required as the number of transactions climb. People are needed to do that processing, so these professionals tend to get taken on first. For businesses, there is the added benefit that these staff tend to be cheaper to employ in the short-term.”

Still, 39% of the New Zealand respondents surveyed said they were not planning to hire at all over the next six months, the highest in the region by a wide margin. The Asia-Pacific average for those not planning to hire was 29%, specifically 27% in Australia, 30% in Japan and just 22% and 23% in Hong Kong and Singapore respectively.

Official interest rates rose earlier this month in New Zealand for the first time since 2007 as the economy recovered from its worst recession in three decades.

Higher rates, which will boost borrowing costs for companies grappling with increased fuel and electricity costs, may be one factor that helps business owners to decide to keep wages bills low for the time being. So when companies are making the decision to take on more people, they will do so in areas firms are sure will increase sales and productivity, said Alexander.

A Robert Half Workplace Survey from earlier in the year found that respondents plan to recruit staff for the positions of Accounts Payable Clerks, followed by Payroll Clerks, then Assistant Accountants.

Companies were also looking to fill finance and accountancy vacancies in the following areas:
• Accounts Receivable Clerks
• Middle and back office operations
• Finance Managers and
• Management Accountants

The Robert Half 2010/2011 Salary Survey questioned 2,599 finance, accounting, HR and executive-level managers from five countries, including 585 from New Zealand. It was conducted by an independent research company and was taken in March and April this year.

To order a copy of the Robert Half 2010/2011 Salary Survey, click here:
http://www.roberthalf.co.nz/salary-guides?cid=salaryguides:various:ReleasePR

* Respondents could select more than one answer

ENDS

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