The accounting and finance industries are likely to see a surge in recruitment this year, according to recent figures.
More than 50% or managers responsible for hiring permanent workers reported plans to increase staff, according to the 2025 Salary Guide from Robert Half. The figures come from a survey of 500 hiring managers and 1,000 employees in the UK.
Around 52% of the hiring managers questioned said they planned to expand their finance workforce in 2025. Steve Sully, Robert Half’s regional director, said this was encouraging news, displaying more optimism within the industry.
Challenges to Growth
Mr Sully accepts there are challenges to growth for Cheltenham accountants and other finance businesses, however, as the cost of employing workers is growing. Yet Robert Half data suggests that 40% of hiring managers are still planning to bring in workers on project terms, with skills such as automation, business intelligence tools and data analytics particularly on their radars.
On the other side of the employment coin, 24% of workers within the 45% of employees in finance and accounting are expecting pay rises in 2025, and a fifth said they would be willing to resign if salary expectations weren’t met.
This will have to be managed by businesses facing an increase in National Insurance Contributions and other economic constraints. Finance leaders are responding by implementing a range of new strategies to retain and attract talent. The Robert Half study found that 19% of businesses are expanding benefits packages to incorporate agreed bonuses, and 19% are offering flexible benefits. 15% are offering dental insurance as a perk.
In the Hands of the Employee
Mr Sully said that candidates looking for jobs in the finance sector with companies such as https://www.randall-payne.co.uk/services/accountancy/cheltenham-accountants/ have a lot of negotiation power, and so good retention and attraction strategies have never been more important. These must reflect the requirement for more encompassing benefits packages.
In the meantime, hiring managers, owners and leaders will face an ongoing battle to meet workforce expectations whilst still managing budgetary constraints in a tough economic climate.