With industry change driving demand for talent across the accountancy and finance industry in Ireland, employers are finding themselves continuously in need of the right professionals to help them meet their business objectives. Indeed, the vast majority (92%) of Irish employers overall have experienced skills shortages in the last year, according to the Hays Ireland Salary & Recruiting Trends 2020 report.
This demand is particularly acute in key areas, and looks set to continue into 2020. Within accountancy and finance specifically, the continued implementation of automated systems and changes wrought by Brexit should ensure demand remains consistent across the profession. Within the public sector in particular, salaries have been driven up by skills shortages on a national level, particularly within accounts support and credit control. Greater competition among organisations, meanwhile, has been exacerbated by the introduction of more multinationals to the market, and has contributed to employers increasing accountancy and finance salaries by an average of 1.8% over the last 12 months, with even bigger rises for professionals working in areas where skills are deemed the most valuable.
The good news for employees, therefore, is that if you work in an area where candidates are in particularly short supply, you’ll be lucky enough to enjoy double digit pay increases and a greater abundance of opportunities. In light of this, we’ve had a closer look at what’s in store for 2020 and which accountancy and finance roles have seen the biggest salary increases, putting them on the ‘most wanted’ list.
Top 10 most in-demand roles for 2020 in accountancy and finance:
1. AP Specialists
2. Ledger Clerks
3. Payroll Clerks/Assistants
4. Unqualified Accountants
5. General Accounts Clerks/Assistants
6. Tax Accountants
7. AR Supervisor/Managers
8. Part-qualified Accountants
10. Experienced Supervisors
If your role is not on this list, it would be worth using the New Year to re-examine your skills and think about where you want to take your career. Although starting again from the beginning might not be an option, you could explore where your profession is heading and whether a sideways move or upskilling opportunity might be possible.
Are you being paid the right salary?
Whether you are planning to move on or remain in your current role, it is vital to know whether you could earn more in line with regional and national averages and your own skillsets and experience.
Once you have this knowledge to hand, you can make the case for a pay increase, or build on those existing skills that are most in demand and would command the highest salary.
What are the skills in demand?
With automation becoming ever more prolific in the world of work and within the accountancy and finance sector specifically, there is an increasing need amongst Irish employers for operations skills (38%) and leadership skills (32%). Demand is high for managers who can combine awareness of how technology can streamline processes with the softer skills of people management, allowing them to guide and galvanize their workforce into achieving business objectives.
Those who can combine both technical and softer skills will be best placed to secure a competitive salary, and become indispensable in the year ahead.
Find out how salaries and recruiting trends are changing across the accountancy and finance function by requesting your copy of the Hays Ireland Salary & Recruiting Trends 2020 guide.
About this author
With over 20 years’ experience in the recruitment industry, Maureen believes a strong relationship is at the heart of recruitment. This approach allows her to create innovative recruitment solutions reflecting her clients’ desire to grow their teams, while also working closely with individuals looking to take the next step in their careers. Maureen began her Hays career in our Senior Finance division and is now the Director of Operations for our offices in Cork, Limerick and Galway, managing our finance, construction & property, financial services, operations & administration support and IT functions. Maureen also takes the lead for Hays Ireland Diversity & Inclusion initiatives creating and implementing diverse recruitment strategies that effectively support the representation of more diverse staff profiles both within Hays Ireland and in the organisations with whom we work.