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Author: Andrew Setchell

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2025 Mid-Year Hiring Review, by Andrew Setchell, CEO

Tower Bridge Sunset
Tower Bridge Sunset

In my January update, I shared some expectations for 2025:

  • Stabilising interest rates: With rates projected to hold steady around 4-5%, we anticipated a more stable environment that could support increased business investment and hiring.
  • Strong Q4 2024 performance: Our momentum at the end of 2024 gave us a positive foundation entering the new year.
  • Job market dynamics: Following the major employment shifts in 2022, we expected 2025 to bring renewed movement as individuals reached the three-year mark in their current roles - typically a trigger for career reassessment and change.

These trends have largely held true so far in 2025.

Our performance in the first half of the year reflects cautious optimism, even amidst new challenges - particularly the re-emergence of tariffs, which we’ve not had to navigate significantly in the UK for many years.

Just as we begin to feel a sense of normality and stability, another external event emerges to test business resilience. These disruptions slow down decision-making, force strategy adjustments and often hinder growth.

But, there’s always a “but”…

The improvements we’re seeing are not universal. Success remains concentrated in certain sectors or business types. Organisations with a long-term view and solid investment strategies are maintaining a positive outlook.

Meanwhile, those operating on shorter-term models or carrying higher debt are feeling the strain more acutely.

The Candidate Factor

Historically, when the number of available roles drops, the talent pool grows. That pattern has shifted. Today’s candidates are more cautious - often opting to stay put rather than even entertain new opportunities. This hesitancy might be a response to uncertainty, or perhaps a sign of shifting career priorities.

It raises the question: are some professionals sacrificing ambition for comfort?

The encouraging news is that while shortlists may be shorter, the quality of candidates remains high. Our commitment to excellence in every placement hasn’t changed - and won’t.

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Accounting & finance inflation-rate salary increases: are they as impressive as the headlines suggest?

Office
Office

If you’ve read the news lately, it’s a great time to work in finance and accounting, with salaries on the up across the board and hiring firms willing to pay above market rates to secure the talent they so desperately want. 

PwC recently announced headline-grabbing salary increases of between 7-9%, the “most significant” pay rise to staff in 10 years, in acknowledgement of the rise in living costs and the competitive recruitment market. EY and KPMG have also announced pay rises this year for their staff, although not quite on the same scale as PwC. 

But despite the big pay rises being announced, what’s the reality of the situation for those working and hiring in the accountancy sector? 

Is this actually a pay rise for accountants? 

Although a salary hike of 8% sounds great and something many industries can only dream of, with inflation tipped to go through 10%, then already it’s no longer a pay increase. While the pay hikes are said to be a response to rising inflation, in reality there are other factors driving these increases. 

The truth is, accountants’ salaries were well overdue an increase anyway. Finance salaries didn’t really move between 2014-2020. There was low inflation, low interest rates, and a good supply of talent for firms to choose from. But with the economic impacts of Brexit, plus the knock-on effects of the pandemic – including the lack of Aus/NZ/SA talent we’d usually see supplementing the local candidate pool – we’re now seeing a big supply gap in candidates.

It’s simply economics: as the supply of available talent has gone down and demand from hiring firms has risen, prices have started to rise. All companies (both in practice and industry) are now recognising that accountants’ salaries need to rise: firstly in order to keep hold of existing talent, and secondly, to be competitive in order to attract new hires. 

No longer the same push factors for candidates looking to move jobs

In addition to the lack of overseas talent, the local talent pool is not experiencing the same push factors they once were to move jobs, further restricting the volume of available talent.  

Lack of career development, poor relationships with management, poor bonuses or success at a firm, and poor working patterns have in the past all been key reasons to ‘push’ candidates to look for a new job. But the pandemic has meant many firms have adopted ways of working now which suit their employees better. By design or by fault, employers have got smarter in the pandemic. They have got better at looking after their people. And for those candidates who might previously have moved jobs due to office politics or a poor manager – those issues have become more tolerable if you’re in the office less and are mostly dealing with colleagues on Zoom calls. 

Generally, people have got more comfortable – and if you’re comfortable, then why move? You need to be motivated in order to move jobs.  That means firms need to focus on their ‘pull’ factors – mainly being an attractive option to candidates. Expectations of candidates are increasing when it comes to salaries, and many expect flexible working as standard. They are listening to recruiters and paying attention to what’s happening in the market. They are more switched on. 

The reality is that general inflation hasn’t pushed up salaries: it’s the lack of talent. Many clients are not even questioning salaries as they once were and are volunteering bigger increases. As a result, salaries are on the up, particularly at the sub £100k part of the market. Hiring firms are simply aware they need to pay more to hire the people they want. 

Realities for moving jobs and hiring in the current market

For clients looking to hire, there are a few things to keep in mind: 

• You can still find the quality of candidate you want, but your shortlist will be shorter. This is especially true at the sub £100k levels. Upwards of £100k, there is probably still a good supply of people looking to move. Requirements at this level tend to be more specific as seniority increases anyway. 

• Ensure your recruitment processes are efficient and timely. Don’t hang around to get hires signed off and keep interviews fast and thorough. Too many interviews or delays in offers means companies are missing out on candidates. 

• Make the role as attractive as possible. Consider all of your ‘pull’ factors before you start to hire. This will make it much easier in enticing candidates to apply. 

• Have patience. There is no quick fix in this current climate, it all just takes time. 

For candidates, we have this advice: 

• There are some great opportunities out there right now, so it’s a perfect time to challenge yourself and get out of the comfort zone you might have fallen into. The ones moving jobs are the ones seeing their careers move forward, across financial services, C&I and practice. Moving jobs is certainly the faster route to career progression. 

Change is coming

There are some economic headwinds coming with the potential of recession being spoken of (mainly driven by inflation). A tighter economy could mean a restriction in the supply of jobs, and a general increase in the number of people looking for new roles. Hopefully we’ll see a rebalance in terms of the supply and demand in the market. In the meantime, in such a talent short market, it remains to be seen if there will be more headline grabbing salary increases for accountants, but it’s more likely than not.

Get In Touch

To get help with your recruitment process or job search, please do get in touch with Andrew Setchell today on +44 7495 483425, email andrewsetchell@srmrecruitment.com or connect with him on LinkedIn.

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The top five things people want from work right now

It’s safe to say we are still facing questions about the future of work and what people really want from their employer as the world of work changes. Even before Covid-19, there were clear trends taking us toward more remote working, more flexible working, more mobile workers and more dispersed workforces. 

Now, as we factor in candidate shortages, rises in hiring and record growth of starting pay* we take a look at the latest research and what our candidates are telling us they want from work right now so that you can hire and retain your best finance and tax professionals

1. Flexible work that’s about individual choice

We’re hearing from our finance and tax candidates that some sort of flexibility is fast becoming an accepted norm. It’s also becoming clear that many organisations are adapting their approach here to attract and retain the best.

The first question candidates used to ask us when being approached about a new role was “What’s the package?” Now it’s “what’s the working pattern for this role?”. 

In order to reach the widest pool of candidates, we recommend adding your flexible working policy on the job specification so that your job doesn’t get discounted. Clients with no flexibility to offer will find it harder to recruit but it’s by no means impossible.

2. Part of a co-created vibrant physical & digital culture 

After people’s basic needs are met, for example, money to pay the bills, benefits to ensure their health is taken care of, mentoring for career development, people want a great work community and culture. 

Before covid, 82% of leaders believed that “culture is a potential competitive advantage”, whereas only 19% believed they have the “right culture”. **

When we factor in the impact of flexible working, where we may not be experiencing the office environment so much, creating a sense of belonging and opportunities for informal collaboration via your digital infrastructure are becoming increasingly important. People want to connect with their colleagues no matter where they are and they want to have a say in how things are done. 

This is a key challenge to address when we think about the future and planning talent attraction and hiring strategy, especially in areas like digital onboarding and creating online community groups to help people get their feet under the table.

3. Feel like they belong to an open community

Generational changes are also driving the desire for greater openness. We have five generations in the workforce now from iGen/GenZ, Millennials/Gen Y, Gen x all the way through to Baby Boomers and Traditionalists. 

We see our clients embracing this through their office infrastructure and through their wider culture in order to attract and retain their best finance professionals. 

Julian Randles, CFO at Czarnikow, made these changes in response to their people’s needs:

“Let’s make the office an exciting, vibrant place to come in and let’s make it fit for purpose for the post COVID environment.” We’ll have desks of course but it will be more of a hot desk type environment. The majority of the office will now be set aside for meeting space, for audio visual type areas so that people can come in, have meetings, get on video conferences and so forth in order to collaborate with others around the globe.”

The good news is there is real evidence to support the benefits of becoming a more open and transparent organisation, from lower absenteeism to higher revenue. In fact 41% lower absenteeism, according to Gallup’s state of the American Workforce and 765 times higher revenue according to Dan Coyle’s Culture Code.

4. Have a voice and a say in the company

Candidates we speak to are generally looking for open company cultures and we definitely see many organisations growing past the idea of a strict hierarchy. People want to feel connected to their work community and when this connection isn’t there we see people start their job search. 

People want to communicate in more modern, flexible ways that allow them to have a say. They also want to be recognised for their contribution. If you can create the opportunity for continuous feedback within your finance or tax team and across the organisation we believe you’ll stand the best chance to retain your talent. 

5. Authentic, real leaders that they can connect with 

As strict hierarchies in organisations become a thing of the past, people are looking for a different kind of leadership style. Modern leaders listen and create inclusive cultures. They are also helping to break down functional hierarchies. 

Our finance and tax candidates are telling us they want to have an influence on the running of the business and be true business partners so if you can help to break down those barriers so that finance is at the forefront of the business you will stand the best chance of retaining your best people.

*KPMG Rec Report November 2021

**Deloitte Global Human Capital Trends

Get In Touch

To get help with your recruitment process or job search, please do get in touch with Andrew Setchell today on +44 7495 483425, email andrewsetchell@srmrecruitment-com.stackstaging.com or connect with him on LinkedIn.

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The top ten reasons why you should work for SRM Recruitment

Richard Boyd
Richard Boyd, Director at SRM Recruitment, wanted to join an experienced recruitment team

Do you love recruitment but dislike the recruitment industry? We felt the same. That’s why we started SRM Recruitment. We felt the recruitment industry was increasingly focusing on process rather than consultancy.

At SRM you’ll have time for what really counts: your clients and candidates. If you love recruitment, rather than hands-on training of unqualified personnel, this is the business for you.

Because we don’t have KPIs, you’ll be the sort of person who thrives on taking ownership and opportunity.

It’s a grown-up business and we trust our consultants to recruit.

We also trust you to work in the way that suits you best.

It’s a real commitment to flexibility rather than a token paper policy.

“Joining an experienced team at SRM was key, especially working with a close-knit group of people who I knew viewed recruitment similarly to me – from a values, respect and way of working point of view.”

Richard Boyd, Director at SRM Recruitment

We are an established business with repeat clients and a strong foundation. That means we offer one of the best commission structures in the industry.

Transparency in the way we reward our consultants is critical. Each consultant can easily calculate what they will receive, there are no surprises.

In a team-based commission structure, you rarely get rewarded for YOUR success.

Clients say to us that they like our honesty and transparency, they trust us. They appreciate the advice we give, not solely our ability to deliver. Candidates say we are interested in them as people.

It’s a straightforward approach.

Get In Touch

If you’re looking to get back to real recruitment then we’d love to talk.

Connect with our co-founder and CEO Andrew Setchell on LinkedIn, call on +44 7495 483425 or drop him an email at andrewsetchell@srmrecruitment-com.stackstaging.com.

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How hybrid work can help you reach more diverse talent pools

Two people of different ethnicities working, representing a diverse talent pool.

A government-backed study for Zurich Insurance suggests that senior women are 20% more likely to apply for senior roles if they offer flexible working hours. It found there had been a lack of applications from women for senior roles, many of which had not been available on a flexible basis. Female employees reported this had made them less likely to apply. 

The volume of job searches using the “Remote” filter on LinkedIn has also increased 60% since the beginning of March, and the share of Remote Job Applications has increased nearly 2.5 times globally from March. 

Adopt a flexible working approach to attract and retain the best talent

We’re also hearing from our finance and tax candidates that some sort of flexibility is fast becoming an accepted norm. It’s also becoming clear that many firms are adapting their approach here to attract and retain the best.

In fact, the first question candidates used to ask us when being approached about a new role was “What’s the package?” Now it’s “what’s the working pattern for this role?”. In order to reach the widest pool of candidates, we recommend adding your flexible working policy on the job specification so that your job doesn’t get discounted. Clients with no flexibility to offer will find it harder to recruit but it’s by no means impossible.

The Great Resignation

In the UK, a HR company’s survey found that 38 percent of respondents were planning to quit within the next year. Meanwhile, a Microsoft survey of 30,000 people around the world noted that 46 percent of people have recently thought about a “major pivot” in their career.

It’s being referred to as The Great Resignation and people are essentially looking for more control of their lives. We still want to earn money though! So, if you can offer job seekers the opportunity to work in a way that’s most productive for them, you’ll retain your best people.

The research also shows that black-identified women are overly represented in this group preferring not to go back into the office. According to Monica Torres writing in the Huffington Post, more black professionals want flexible work policies than their white, Asian and Latin American colleagues.

Why is this? The research points to microaggressions, discrimination and racism, making home a much safer place.

“Ask yourself if your working patterns and salaries are competitive as we’re about to see a new wave of resignations and proactive headhunting of your best finance talent. “

Andrew Setchell, CEO, SRM Recruitment

Improve your digital community to widen your talent pool

Regional and international talent pools are also becoming more readily available to firms – if you have good digital onboarding and a vibrant digital community to welcome people into your infrastructure, there’s no reason why you can’t recruit from further afield.

At SRM, we’ve recently conducted job searches for clients in New York, Milan, the Netherlands, Portugal and Paris. Recruiting across borders is becoming much more commonplace as is managing team members remotely.

For FDs, CFOs and senior tax practitioners our key piece of advice is to think about your talent management now. Ask yourself if your working patterns and your salaries are competitive as we’re about to see a new wave of resignations and proactive headhunting of your best finance talent. 

Get In Touch

To get help with your recruitment process or job search, please do get in touch with Andrew Setchell today on +44 7495 483425, email andrewsetchell@srmrecruitment-com.stackstaging.com or connect with me on LinkedIn.

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What COVID-19 has taught businesses like Czarnikow about the future of work

Image to represent what people want for the future of work

As many more of us return to the office, we take a look at how Julian Randles, the CFO of Czarnikow, is changing their office environment to meet their people’s needs post-pandemic.

Julian has 30 years’ experience as a finance professional and is currently CFO at Czarnikow.

Czarnikow has managed complex sourcing, financing and logistics in the sugar industry for over 150 years. Czarnikow has been around for 150 years and has seen world wars and four pandemics in that time, including the Spanish flu of 1918. 

LinkedIn photo of Julian Randles, CFO of Czarnikow
Julian Randles, CFO, Czarnikow

We talked to Julian about how Czarnikow is working differently.

“Ironically, just before COVID came around we’d just expanded our office to almost the maximum number of desks that we could. It’s an open-plan office in Central London.

I think we’ve got about 110 desks in London and 250 people worldwide.

The old setup was very much everybody had their own desk. There was a certain amount of distance between those desks and it worked very well. Obviously, the experience that we’ve had through COVID has somewhat changed our view.

Will we all embrace hybrid working?

I do think we’re heading for a more ‘hybrid’ way of working. We feel that there has been a change, although it’s hard to say if it’s a permanent change for the whole industry. None of us really know how things will settle down post-COVID. But there’s definitely a need to take into account people’s preferences in respect to how they would like to work, and the efficiency of that work going forward.

Having said that we still believe there’s a huge role for the office. It’s a crucial place for collaboration and that kind of osmosis effect that happens when people come together. So we’ve taken the opportunity to redevelop the office even though we’d just added some desks.

Our thought process was: “Let’s make the office an exciting, vibrant place to come in and let’s make it fit for purpose for the post COVID environment.” We’ll have desks of course but it will be more of a hot desk-type environment. The majority of the office will now be set aside for meeting space, for audiovisual type areas so that people can come in, have meetings, get on video conferences and so forth in order to collaborate with others around the globe.

“Let’s make the office an exciting, vibrant place to come in and let’s make it fit for purpose for the post COVID environment.”

Maintaining a collaborative and social environment for the next generation of employees

Generational differences come into this too. I think it’s easier for those with 15/20 years’ experience to do that role 100% at home but bringing through the next generation and on- boarding is a challenge as they gain a lot more from interaction and learning from the team.

I think we’ve taken on approximately 10 people since the beginning of the pandemic. At first, it was a case of ‘rabbits in headlights’ and how do we deal with the situation where we can’t actually bring people into an office and introduce ourselves. But actually, everybody has onboarded and worked from home in a seamless manner.

I think the problem is the interface on a video screen is not quite the same as being physically there. It’s those coffee bar chats you miss. That’s the biggest thing that we’re hoping to engender by having people back in our remodelled office. But other than that, I think the process has still been very successful.”

If you’d like to read more about how other companies are navigating the future of work and what job seekers want from work, please download our latest Future of Work Whitepaper.

Get In Touch

To get help with your recruitment process or job search, please do get in touch with Andrew Setchell today on +44 7495 483425, email andrewsetchell@srmrecruitment-com.stackstaging.com or connect with me on LinkedIn.

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How to find the best accountants, finance and tax professionals in today’s job market

Hiring manager conducting an interview with an accountant, finance or tax professional.

As UK job vacancies surged past one million in a new record, the KPMG and REC, UK Permanent Placements Index* signalled a rapid and accelerated rise in permanent staff appointments across the UK. Furthermore, the rate of growth was the steepest seen since data collection began nearly 24 years ago.

So how is this affecting the accounting, finance and tax jobs market? We talked to CEO and Co-founder of SRM Recruitment, Andrew Setchell, about how you can secure the best accounting, finance and tax talent for your team amidst growing demand for candidates. 

1. Be realistic 

The good news is that it’s definitely possible to find and hire good people right now but hiring managers need to acknowledge that their shortlist will be a lot shorter. Rather than five to six people to consider, be prepared for three to four and sometimes there may be just one to take to a final interview. That is the reality.

2. Be ready to pay more for your chosen finance candidates

Most finance and tax professionals were treated well during the pandemic and it’s not as easy to get them to consider a move, there are fewer push factors. As a result, supply has reduced, with demand rising and we are seeing salaries going up.

When candidates used to say “I’m looking for an uplift of 10%” there would be a conversation and a negotiation. Now hiring managers are saying “It’s fine, I understand”. Attitudes are changing and we’d advise you to be prepared to widen your salary range, rather than risk delays waiting for sign-off on budgets further down the line.

3. Your flexible work approach must go on the job specification 

The first question candidates used to ask when being approached about a new role was “What’s the package?”. Now it’s “What’s the working pattern for this role?”. To get the widest pool of candidates, you should specify your flexible working policy on the job specification.

Clients with no flexibility to offer will find it harder to recruit but it’s by no means impossible. Whilst the debate is still ongoing regarding where the home/office balance will finally settle, we can tell you that finance professionals definitely want some sort of flexibility. 

As an example, HSBC’s work from home Friday policy would have been unheard of a couple of years ago but these sorts of policies are becoming the norm. Some will go back to the office full time but it will be at least two years before we see a bigger shift.

Five days in the office is very much considered “traditional” but if that is the way your company runs, it’s not necessarily a problem. Just be aware that your shortlist will be a bit shorter. We’re here to help clients negotiate this job market and find the right people for your business. 

“Attitudes are changing and we’d advise you to be prepared to widen your salary range, rather than risk delays waiting for sign off on budgets further down the line.”

Andrew Setchell, CEO, SRM Recruitment

4. Speed up the interview process to secure accounting, finance and tax professionals

The interview process needs to be quick in this market. Once you’ve got CVs you need to get the hiring process finished within two weeks. We agree – it’s tempting to “just see someone else.” But after 30 years in finance recruitment, we can tell you there are no ‘magic unicorn’ candidates out there. What we do see time and again is businesses missing out on outstanding people who would have quickly transformed their finance or tax team.

5. Use an experienced finance and tax recruiter with a proper network

In candidate-driven markets, real recruitment comes into play. You need to talk to someone who has the connections to find the people who aren’t necessarily looking. Not only that, your recruiter needs the skills to clearly promote how your role fits with the candidate’s career. That comes from experience. Everyone at SRM really knows their market. 

6. Consider try before you buy

If your permanent hiring process is dragging, you should consider using a PAYE temp. This gives you the best chance to assess fit with your team. We have an established book of contract professionals ready and “on the bench” if you’re wanting greater flexibility.  

7. Be prepared for candidates turning down your role 

This is becoming more common in the accounting, finance and tax jobs market at the moment. Personally though, we’ve seen very few candidates turn down roles because their current company has counter offered a higher salary. An experienced recruiter knows how to vet their candidates properly and there should be no surprises. 

In short, move your hiring process along, be clear about your flexible working policy and be ready to broaden your salary range.

*The KPMG and REC, UK Report on Jobs is compiled by IHS Markit from responses to questionnaires sent to a panel of around 400 UK recruitment and employment consultancies.

Get In Touch

To discuss your hiring strategy or to get more insights on the recruitment market in your industry please give me, Andrew Setchell, a call on +44 7495 483425, email andrewsetchell@srmrecruitment-com.stackstaging.com or connect with me on LinkedIn.

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Hiring managers lose out as demand for accountants grows steeply

Andrew Setchell on the shift in the accountancy and finance jobs market post covid and how you can beat the competition for the best candidates.

The number of people placed into permanent jobs in London and the South East climbed at a considerable rate in April. We’ve seen that at SRM and that’s backed up by the Recruitment & Employment Federation’s (REC’s) latest Jobs Report in association with KPMG.

The accountancy jobs market is improving at the fastest rates we’ve ever seen and hiring managers just aren’t aware that they’ll struggle to fill roles if they don’t act now.

Let me give you an example of what happened last week when a well known UK listed property company tried to hire a management accountant. I hasten to add, we didn’t manage this recruitment process for them!

The company shortlisted five people and brought three back for a second interview. Two candidates were offered the role but neither accepted. With a £10k salary uplift on offer you’d have thought this was a great move for the two shortlisted candidates. The salary was around £55k and the shortlisted candidates were newly qualified accountants on about £45k.

The first candidate had the offer matched by their current employer and stayed put. From a recruiter perspective, that’s poor practice, one for not checking the candidate’s underlying motivation for leaving and second for not having the conversation about what they’d do if their FD matched the new salary.

The other candidate had three offers to choose from. That’s harder to counter but it shows there’s been a huge shift in the accountancy and finance jobs market. What seems to have happened during Covid is that many hiring managers have forgotten about people’s worth and are getting complacent.

Andrew Setchell, CEO at SRM Recruitment

The REC Jobs Report shows that the pace of hiring has accelerated significantly since March 2021 and is the joint quickest rise in 23 years of data collection.

Andrew Setchell, CEO, and
Co-founder, SRM Recruitment

So what can you do to ensure you don’t get caught out by the shift in the accountancy and finance jobs market?

1. Be aware you’re just one of the offers the candidate is considering

The first step is to be aware that you’re just one of three offers your favourite candidate is considering – most likely they’ll have six roles to choose from. The assumption is you’re the only one hiring. Whilst that was the case 12 months ago, it’s certainly not now.

2. Make sure you review salaries

It’s now imperative to do regular salary reviews and be up to speed on market conditions. Workforce planning and updating your employee offer is essential.

3. Expedite your accountancy and finance hiring process

Good people are getting multiple offers so candidates are getting pickier. Give yourself the best chance by expediting the process. Reduce your shortlist so you get to the finish line faster. Remember, you only need one person for the role so a strong shortlist of three will give you the best chance to hire.

4. Sell the non-financial benefits to motivate ambitious candidates

Be very clear about why you want to hire your chosen candidate and what they bring to the business. Tell them explicitly how they will develop their commercial experience, for example, that their value will rise and they will improve their CV by x per cent.

5. Use a quality, boutique recruiter

An experienced recruiter partnering directly with you will give you the best chance in this market, saving time and money. It’s worth being aware that the large recruitment firms all made large-scale redundancies during the pandemic and are now hiring recent graduates to make up for the shortfall.

At SRM we’ve actually deepened our bench strength during Covid. You will work directly with a talented recruiter with at least 10 years of specialist experience in finance and accountancy.

If more people are open to moving won’t there be more candidates to choose from?

In short, no. As more jobs come to market it’s worth bearing in mind that the supply of candidates actually hasn’t changed from 6-12 months ago. We saw an example of this recently at NBCUniversal. The candidates who lost their jobs during Covid already found new jobs between September 2020 – Jan 2021 and the rest have been looked after and retained.

Pressure on finance teams has been growing for some time

Bench strength has been missing from finance teams going right back to the financial crisis in 2008 – the pandemic has only added to the pressure. Businesses have realised you need good people to do cash flow and complete accurate forecasting. If that’s happened in your business you’re not alone – it’s happening elsewhere.

The highest demand is at the £45-70k level and organisations will struggle to fill roles. There’s a war for talent on the horizon so we are advising our clients not to wait to hire strong finance and accounting candidates.

Get In Touch

If you need help to hire finance and accounting professionals or simply want hiring advice, get in touch with me, Andrew Setchell today on +44 7495 483425, email andrewsetchell@srmrecruitment-com.stackstaging.com or connect with me on LinkedIn.

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Why you need to hire accountants now

Andrew Setchell, co-founder of SRM, discusses the finance and accounting recruitment market post lockdown, why smart companies aren’t waiting to hire accountants and what you need to know when hiring.

Despite an almost 60% drop in vacancies in the three months to June 2020, advertised jobs have actually increased month on month during the summer. 

People are still getting jobs. Companies are still hiring. Of course, some sectors are still deeply affected but others are thriving. Businesses are adapting and quickly.

Talent focused organisations thrive 

The economic outlook for the UK appears alarming. But companies that buy into that gloom, rather than look for the opportunity will not survive. We saw that in the last two recessions in living memory. Companies who focused on their talent pipeline bounced back.

I’ve been recruiting for 24 years now and believe this recession will be deep but quick. Much more like 1992, where we saw a strong come back in 1994-1999 and less like 2008/9. During the financial crisis, bankers had less money to lend, but now cash isn’t the issue. 

Businesses need talented accountants and finance professionals more than ever

Without finance and accounting professionals, companies can’t forecast where the business will get to. It’s sheltered finance functions from the worst of the Covid fallout but there are still dangers ahead. Don’t stop making the business case for a strong finance function and the critical decision making information you require to positively impact the business. 

You’ll lose good people

Most finance teams are lean already and if you’ve had a resignation during Covid, or recruitment has been on hold, candidates are telling us that the impact and mental stress on them and their teams is considerable. Analyse the impact of not hiring.

I’ve spoken to two hiring managers this week who genuinely had no idea resignations were coming. It’s a growing issue with a dispersed workforce and one to be aware of. 

Good accountants and finance professionals don’t stay on the market long 

The perception is that it’s a hiring managers market. Yes, the volume of candidates has increased but highly skilled candidates are still in short supply. Some hiring managers are delaying decisions in the belief that there are plenty of good people but they will miss out as many organisations are upskilling now to take them through the next business cycle. 

We are seeing 300+ applications per vacancy and the challenge for hiring managers is sifting through that volume to find the right candidates. A word of warning, the proportion of applicable candidates for a role hasn’t risen in line with the growth in numbers, so beware.

Because you can still hire effectively

Hiring is happening and you can effectively hire people remotely. Candidates are often being hired without physically meeting anyone in the organisation and are settling well into their roles. And we’re adapting as we venture out of lockdown, for example, our clients and candidates have conducted interviews while walking in parks or socially distanced at outdoor cafes. 

What you need to know as a hiring manager and candidate

Packages, flexible working and the human element

Most candidates now want more flexible working – it’s the norm. Yet many people are missing the human interaction of the office, particularly the younger newly qualified accountants we’re talking to. So don’t forget that you’ll need to sell your digital and office work environment when hiring and think carefully about building community.

Packages aren’t changing. Not for good quality candidates. The price point is the same as February. 

Where to look if you’re a candidate – thriving sectors 

Tech companies from big to small are doing well. Gaming, gambling, media, e-commerce and some retail businesses from ebooks to biking are doing well. Pharma, biotech and construction companies are also hiring, despite the current trend away from offices. Many parts of financial services continue to thrive too. 

Leisure, hospitality and retail are obviously suffering and recruitment isn’t necessarily a priority. Having said that, I spoke to a major restaurant chain this week who are looking for a second in command for their finance team. So there are opportunities.

Advice for finance candidates looking for a job post covid-19 lockdown 

Remember that you are good and stay confident – talented people are always in demand. Look to one of the sectors above and target your search carefully. Don’t just apply for every role you see, your reputation is important.

Get in touch

If you’re looking to hire the very best talent in finance and accounting please do get in touch with me today. Or connect with me on LinkedIn. At SRM, we are real recruiters who actively headhunt the best talent, rather than rely on the same set of candidates from a database.

Andrew Setchell, CEO at SRM Recruitment
Andrew Setchell

Andrew Setchell is CEO of SRM Recruitment. He began his recruitment career in 1996 having previously spent 4 years with PWC as an Accountant. He has an extensive background sourcing for a multitude of businesses, partnerships and organisations across the finance and accounting market place.

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Why work for SRM?

Andrew Setchell, CEO at SRM Recruitment
Andrew Setchell, CEO at SRM Recruitment
Andrew Setchell

Andrew Setchell, co-founder of SRM Recruitment shares his thoughts on why the firm is the ideal place for a recruiter to grow their career. Learn about the culture at SRM, our commission structure and 10 reasons to come and work for us.

Why work for SRM, if you’re a potential recruitment consultant? 

We started SRM as we felt the recruitment industry was increasingly focusing on process rather than consultancy. Our belief has always been to listen and collaborate with our clients; building trust so they have confidence in our delivery.

It’s a very straightforward approach but one that has enabled us to attract an experienced and ambitious team of recruitment professionals who believe in doing things the right way.

Clear commission structure

Transparency in the way we reward our consultants is critical. At SRM we operate a very clear commission structure and it’s one of the best in the industry. Each consultant can easily calculate what they will receive, there are no surprises. In a team-based commission structure, you rarely get rewarded for your success.

Real flexibility

There’s a strong team ethic though and we listen and learn from each other. We take work seriously and we’re professional in all we say and do but life comes first and we shape the working day to suit us. Everyone needs balance and you’ll find yours here. 

Celebrating success is important and we usually do that through team lunches rather than nights out – driven by what they desire to do. For example, we recently experienced Maos, the exclusive restaurant opened by Nuno Mendes, the Michelin starred Chef, and for our five year anniversary we celebrated in style enjoying a lovely afternoon sailing down the Thames on the tea barge.

Liz Hawkins, Principal Consultant

Run your own business

We expect everyone to operate their own part of the business and each SRM consultant is really motivated by that. Once consultants are given real freedom, they feel they have a stake in the business and their achievements become more rewarding.

Get back to real recruitment

We hire experienced consultants and support them day to day to build lasting relationships with clients and candidates. There are no outside distractions, everyone continues to learn from the team around them. Management at SRM is about mentoring, suggesting and leading, not hands-on training of unqualified personnel. You have time for what really counts: your clients and candidates. 

Why work at SRM now, when the market is in flux?

We are an established business with repeat clients and a strong foundation. Clients say to me that they like our honesty and transparency, they trust us. They appreciate the advice we give, not solely our ability to deliver and that’s why we’ve been successful. 

We focus on finance & accountancy and tax recruitment – all are doing well, including interim and temp. There’s huge scope for continued growth and expansion, both in our core teams, new disciplines and geographies. We want to hear from consultants who believe they deserve a broader market to succeed in, fewer operators, more clients.

We have discovered challenges such as Brexit don’t duly concern us; we are nimble and flexible, we work internationally, able to change tack and adapt quickly with continuous growth and success.

David Kingston, Business Director, Finance at SRM Recruitment
David Kingston, Business Director

Who does well at SRM?

Capable recruiters do well as they gain access to a much bigger market than they are used to, and it’s their own to develop. Those who bring positivity and want to be part of the SRM community will also enjoy working here. If you want to be rewarded for your efforts whilst working in a warm team atmosphere, this is the right place for you.

We are looking for consultants who are ready to take on individual responsibility as we don’t focus on KPIs, it’s more about achieving the broad objectives for your part of the business. 

What are your aims for the business? 

To keep building on our strong foundations. There really is scope to more than double our market and income over the next couple of years as we expand our core businesses and open offices in new regions.

Andrew Setchell, CEO, SRM Recruitment

Why work for SRM Recruitment: 10 reasons

  1. Transparent, individual commission 
  2. Work in the office, fully remote or a hybrid mix
  3. Individual responsibility focus, not KPI driven
  4. Work with highly experienced recruiters
  5. Relaxed, grown up environment 
  6. Established, growing boutique brand 
  7. Face-time with the leadership team 
  8. Have a say in the direction of the business
  9. Your future is in your hands
  10. Access to all the recruitment tools you want

Read our work for us section to find out more about careers in recruitment with SRM Recruitment.  

Download our permanent commission calculator 

Download our temp/contract commission calculator 

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