Quarterly Market Update
Quarterly Market Update October - December 2016 plus Insights into 2017
At Moir Group we look forward to partnering with you and we are very much here to support you in managing your career.
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Market Overview
At Moir Group we are very positive about the employment outlook for 2017. After a strong 2016 at all levels in the accounting/finance area, we see this continuing throughout this year. There is good momentum with organisations expanding as well as others going through significant restructures. Both environments offer great opportunities for commercially focused finance people. We see opportunities across many sectors, particularly within infrastructure and services, notably education and health, as well as in small to mid-sized businesses that are well led, nimble and seizing new opportunities quickly and efficiently. It is very important to be able to identify where the challenges are in a business and then identify solutions. All CEO's and senior executives are really looking for this skill.
We look forward to partnering with you this year. We are very keen to ensure that this partnership is an ongoing relationship as opposed to a transaction at a certain time. We hope to see you at some of our events this year or alternatively please feel free to use the services of our Learning function. Myself and the whole team are also very happy to act as a sounding board for any employment related matters at any time. I am always very happy to hear from and speak with anyone directly. I can be contacted on 02 9262 4836 or email stephenmoir@moirgroup.com.au.
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Market Overview
$200k+ CFO's, Finance Directors, Head of Finance & Financial Controllers
- Momentum generated towards the end of Quarter 3 continued into Quarter 4, with hiring at the senior end of the market remaining consistent so we didn’t see any slowdown as we approached the end of the year
- The senior candidate market remains very competitive, hiring managers continue to focus on candidates’ ability to partner with the wider business and innovation
- Sectors where we saw demand in Quarter 4 were Retail, Technology and Infrastructure
- Networking continues to be the most successful route to securing a new position for candidates and will continue to be so in 2017
- The outlook for 2017 remains positive with the NSW and Victorian economies continuing to perform strongly
Market Overview
$120k -170k Mid-Level Accountants
- The fourth quarter of 2016, saw a high demand for accountants with strong statutory experience, making their second or third move into a Finance Manager or Financial Controller role at the $150-170k level
- The demand has been strong for Finance Managers that can be hands on and can work across the whole finance function, strong technical Accountants stepping into a Senior Financial Accountant or junior Finance Manager at $120-150k and Tax specialist candidates from Big 4 that had made one or two moves in a commerce environment
- Exposure has been diverse across several industries including Retail, Online, Services, Media, Property, Family Office and Telecommunications. This has ranged from large ASX listed to SME’s
- We also saw several clients seeking Finance Business Partners (FBP) in the $120-140k range. These ‘all-rounder’ roles encompass a broad range of duties of management reporting, budgeting, forecasting and commercial analysis aimed at supporting specific business units and functions. E.g. sales and marketing, supply chain or a revenue stream
- Companies are increasingly seeking an expectation for accountants to be ‘business partners’ and influence their stakeholders through commercial analysis and using diplomatic, collaborative influencing skills. We see this trend continuing in 2017 as traditional accounting and reporting roles are offshored and companies seek to drive profitability through smarter commercial decisions
Market Overview
$50k -120k Part Qualified/Newly Qualified plus Operational Accounting Staff
- Quarter 4 was a busy end to what had already been a very fast-moving recruitment market at the junior to newly qualified level of the market
- The focus for vacancies was towards management accounting and commercial analysis roles – with a high proportion of vacancies being newly created, to support projects or increased workload
- At the other end of the spectrum there was demand for fresh Graduates, with a strong academic record and who could demonstrate their strengths and career aims confidently and succinctly
- Individuals with Big 4 training, their CA qualification in place and a broad industry exposure will always be in high demand and will often have their pick of the best companies/roles available
- In this competitive market, it is all about the value-add you can bring to a role – including stakeholder management skills, business partnering and analysis. Having a strong technical background and the relevant qualification is essential, but often not enough on its own
- Early signs for 2017 look promising across this level of the market. January has been slower moving (which was expected post New Year break), but we are anticipating a much busier February/March with companies starting to identify extra work load and capacity to add new resources
- Initial recruitment drives this year have already been focused on finding the ‘ideal team and cultural fit’ – sometimes even more important than ticking all the boxes of the job spec is finding someone who aligns to the values of the business and who will be committed and loyal
Market Overview
Networking continues to be the most successful route to securing a new position for candidates and will continue to be so in 2017
Contract
- The Moir Group interim team have found the last quarter of 2016 to have been one of our busiest. We have partnered with a broad range of clients across a diverse range of sectors including Education, Property, Infrastructure/Construction, FMCG and Services industries in both Sydney and Melbourne
- Process reviews around collections and AP has also been strong where the candidates need to be hands on in these transactional roles and have the capacity to step up to a more strategic level and help organisations map and then improve processes
- Leading on from this, there has been increased activity in the Business Analyst space, organisations have sought candidates that can understand finance, IT and processes and liaise across the business
- We have also seen clients bring transactional roles back internally after outsourcing offshore.
- The trend for ‘temp to permanent’ roles has continued where clients have wanted a quick fill for immediate needs but also a ‘try before you buy’ approach to ensure optimal cultural fit
- 2017 has started strong with already a demand in January and February for financial accountants, Accounts Payable and shared service specialists, Payroll project experts and Business Analyst with strong business partnering skills. The interim team is expecting another strong year in NSW interim market as infrastructure continues and some of our large corporate clients are moving shared service teams back on shore
- Other capitals, especially Brisbane and Melbourne are also showing signs of modest growth in the contracting and interim area into early 2017
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NGS (Not for Profit, Government and Services)
- Our newest division specialising in the not for profit, government and services sector has had a very successful inaugural year – we have many contractors working in those spaces now and have leveraged off our existing relationships in these sectors, as well as identifying new opportunities. The range of roles has been mixed, generally from part qualified roles through to CFO
- We have found many of these organisations to be undergoing large finance transformation projects, and as such have been placing Project Managers, Business Analysts and Finance Analysts with specific project experience. These roles have tended to start as 3 month contracts however most of them have been extended, with some offered fixed term and permanent contracts throughout the year
- In 2017 we expect to see growth in Education and Health, with continued transformation projects. Having the capacity to focus on these areas has been particularly rewarding for us, as we partner our candidates’ values and cultural fit those of with our clients’. We look forward to continued success in 2017
Contract
Contract
Contract
Banking and Finance
- High quality candidates seeking salary packages under $140k are receiving multiple offers across different industries, and it is still a strong buyer’s market at the $140k - $200k level where there is a large supply of strong candidates returning from overseas or who are immediately available and willing to take significant pay cuts up to 20% to re-enter the market
- The trend of candidates looking to leave the financial services sector continues, seeking broader roles and opportunities to work in smaller finance teams where they feel they can genuinely contribute and a make a difference
- Leadership is still the key driver for most candidates deciding whether to stay or leave an organisation, this has resulted in various senior opportunities arising as companies look to acquire strong people leaders who can build a high performing culture
- The traditional quieter period between Christmas and Australia Day is no more, during the last 2 years we have experienced strong job volumes for contract and permanent staff
- Demand will continue to increase from clients in the SME market space, there is a growing trend to find candidates with ASX reporting experience
- Demand is expected to continue in hiring part time employees as this is a talent rich market
- Non-financial services companies will continue offering good opportunities to candidates wishing to change sectors, especially in the finance, planning and analysis space, and education, not for profit, property and the telecommunications sectors have also been popular destinations
- Candidates need to remember what separates them from the pack, soft skills involving engagement of non-finance stakeholders will continue to be in demand and the ability to provide financial insights that will better the performance of a company
- When deciding which companies to join it is important to look at what stage they are in the business cycle, if they are experiencing strong revenue growth = people are an investment, they will offer great opportunities and progression is easier. If revenue is in decline or flat = people are a cost
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Banking and Finance
Banking and Finance
Banking and Finance
Banking and Finance
Our candidate events continue to be very popular. Ensure you keep an eye on our website and the upcoming events page, as all our candidate events for 2017 will be listed here
Moir Learning
- Moir Learning had a very busy 2016, with our one on one coaching sessions proving to be very popular, especially the resume, cover letter and LinkedIn sessions. We also offer interview coaching, which includes role playing and behavioural based interview questions. Every session is tailored to each person and includes information handouts that you can take away with you after the coaching session also
- In November 2016 we introduced our quarterly CFO Networking group coffee mornings, which proved to be very popular with lots of great discussions between the group. These events are by invitation only and will not appear on our events page. Please speak with our Executive recruitment team if you are interested in attending one in 2017
- Our candidate events continue to be very popular. Ensure you keep an eye on our website and the upcoming events page, as all our candidate events for 2017 will be listed here
- If you would like to book a coaching session then please contact our Head of Learning, Angela Farmeary on 02 9262 4836 or email angelafarmeary@moirgroup.com.au. Angela can assist you with your resume and cover letter, LinkedIn profile reviews, interview preparation as well as how to successfully network and with overall career planning and advice
Please use the left or right arrows for our more detailed market reports.
Moir Learning
Moir Learning
Moir Learning
Moir Learning
Community Involvement
- We have continued our partnership with St Vincent de Paul and the Ozanam Learning Centre and our presentations on topics including “Increase your chances in securing a job interview” and “How to write a successful resume” continue to be very popular. Throughout 2016 we facilitated 10 resume and interview skills workshops for the Vinnie’s clients
- Moir Group also continues to partner with Lou’s Place, which is the only daytime refuge for women in Sydney. It is a unique, community-based refuge for women in crisis, homeless, feeling isolated or in need of support. This has involved working onsite with their clients conducting resume and interview skills workshops
- For full details on our various community projects you can check out our website www.moirgroup.com.au and click on the “community involvement” tab
Please use the left or right arrows for our more detailed market reports.
Community Involvement
Community Involvement
Community Involvement
Community Involvement
To be alerted when we advertise a new job please set up a "job alert" by visiting us at our website www.moirgroup.com.au.
If you have any questions or would like to refer a friend to us, please call Moir Group on (02) 9262 4836.
We are always keen to hear your feedback on our business and service and we are always very happy to provide career advice. If you would like to contact us please do so on 02 9262 4836 or email me directly at stephenmoir@moirgroup.com.au or follow me on twitter @Stephen_Moir.
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