Accounting and Finance: Industry Changes that will Impact Recruitment Decisions
The accounting and finance landscape in New Zealand is undergoing significant changes, driven by various trends that are reshaping the industry. These trends are expected to have a substantial impact on recruitment decisions in the coming year. From the increasing integration of technology to the growing emphasis on data analytics and sustainability, the evolving demands of the industry are redefining the skill sets and attributes sought after in potential candidates. As such, it is crucial for both job seekers and employers to understand and adapt to these trends to ensure successful recruitment and career development in the accounting and finance sector.
- Technology Proficiency: The increasing integration of technology in accounting processes implies a growing demand for professionals with strong technological skills. 2024 will see an increasing demand for candidates who are proficient in using advanced accounting software (such as cloud software), data analytics tools, and are prepared to upskill their technical understanding.
- Data Analytics and Business Intelligence Skills: With the emphasis on data-driven decision-making, accounting professionals who possess skills in data analytics and business intelligence may be in high demand. This trend is likely to continue as organisations seek insights from financial data to inform strategic decision-making.
- Sustainability and ESG Expertise: As sustainability and Environmental, Social, and Governance (ESG) reporting gain importance globally, recruiters may look for candidates with expertise in these areas. Accountants who understand sustainable practices and can navigate ESG reporting frameworks may be sought after.
- Soft Skills and Business Acumen: While technical skills remain crucial, there's a growing recognition of the importance of soft skills. Businesses will continue to value candidates who not only excel in accounting principles but also possess strong communication, collaboration, and problem-solving skills.
- Adaptability and Continuous Learning: The accounting landscape is evolving rapidly, and candidates who demonstrate adaptability and a commitment to continuous learning will be prioritised. Professionals who stay updated on industry trends and seek to acquire new skills will be attractive to employers.
- Cultural Diversity and Inclusion: Companies are increasingly recognizing the value of diverse and inclusive workplaces. Candidates who bring diverse perspectives and experiences to the table, fostering a more inclusive and innovative work environment will be highly marketable to a number of businesses.
- Networking and Professional Engagement: Active participation in professional networks and industry events may be seen as a positive attribute. Candidates who engage with the accounting community, attend relevant seminars, and contribute to discussions will be viewed favourably in the market.
In conclusion, the accounting and finance industry in New Zealand is witnessing a transformation influenced by several key trends. The increasing reliance on technology, the growing importance of data analytics and sustainability, and the emphasis on soft skills and continuous learning are reshaping the recruitment landscape. As a result, professionals seeking opportunities in this sector should focus on developing a diverse skill set that encompasses both technical proficiency and soft skills, while also staying abreast of industry trends. Employers, on the other hand, should recognise the value of candidates who demonstrate adaptability, cultural diversity, and a commitment to continuous learning. By understanding and responding to these trends, both job seekers and employers can navigate the evolving accounting and finance landscape in New Zealand effectively.