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​New Zealand’s labour market is constantly evolving as economic factors, business needs and talent supply influence the demand for certain skill sets and candidates. In the Finance sector, specifically, the market is growing steadily, with data from Stats NZ revealing that there were around 65,500 filled jobs in the March quarter of 2022, up from 56,600 in March 2019. So where are we seeing movement in Finance right now, and what trends are currently shaping the industry? Below, Beyond Recruitment’s Accounting, Finance & Financial Services team from across the country break down their key observations to help you stay well-informed and competitive, whether you are looking for a role or want to grow your team. The Evolving Demands in the Finance Job Market The Finance market has changed a lot over the last 5-10 years, with new technologies and the shifting business landscape leading to the demand for different skills and role types. Automation has taken over much of the transactional processes, and many tasks that would have taken a full day to complete now happen at the push of a button. Consequently, a different set of skills is now required for Finance roles, regardless of level. Key attributes employers are looking for in Finance candidates: Soft skills over teachable technical skills Tech-savvy – Experience with reporting tools like Power BI and large FMIS systems (e.g. Oracle, TechOne) Excellent communication skills and the ability to easily translate financial jargon to accommodate stakeholders Innovation and the ability to automate transactional processesThe good news is that technology hasn’t replaced specific jobs, rather it has changed the responsibilities and duties of roles by alleviating the administrative burden and making reporting more accurate. For example, rather than spending time scanning invoices, Accountants have taken a more advisory-based role, allowing them to serve as a business partner rather than just a BAU transactional processer. For those who need to upskill in order to adapt to the changes in the Finance profession, a number of options are available, including CA qualifications, technology training on tools such as Power BI and leadership courses. Key Trends Shaping the Public and Private Finance Sectors Public vs. Private While there are some similarities between the public and private Finance sectors in New Zealand, there are some distinctions that shape the roles within each space. The skills and experience gained from both sectors are transferable, however, the goals of both industries are different, with the public sector, particularly in Wellington, focusing more on spending and specific political agendas, and the private sector focusing on reducing expenses and increasing productivity, revenue and net profit. Auckland differs from Wellington in that the speed to market in the private sector far surpasses the public sector. This means that candidates are being lost to other roles, as the process is lengthy in the public sector, and the salary banding is often too low for market conditions. Meanwhile, public sector employers in the regions are still demanding exact qualifications for roles and are not prepared to look at transferable skills. As a result, the roles are staying vacant, and the pressure is put on the current team to deliver more and more in terms of responsibilities.​Relocation and hybrid working Across the private sector, organisations are looking at how they can be creative with the limited talent pool at their disposal. Many clients are becoming more location agnostic, securing resource from other regions and the main cities with the opportunity to work remotely, especially across contract roles. The trend of candidates relocating to the regions also continues as interest rate hikes and rising housing costs bite, and many regional organisations are looking to the main centres to secure candidates who are willing to relocate for stable roles. When it comes to hybrid working, Wellington employers across both the commercial and government sectors are very flexible on working from home arrangements. In Auckland, however, there is some disconnect, with candidates sometimes asking for more working from home more days than an employer is wanting to provide. Nevertheless, hybrid working is now widely accepted by both candidates and employers for the majority of roles, and finding the right balance between remote and the office comes down to the unique circumstances of the role and negotiation. Find Out More If you’d like to discuss any of the above trends in more detail or find out how we can support you with your hiring or Finance job searching needs, please reach out to our nationwide team of Accounting, Finance & Financial Services recruitment specialists today. ​

Having recruited Payroll professionals for the past four years, I have seen first-hand what a key role they play for an organisation. Payroll is critical function - for those that are seeking more information about this interesting career, read on…. ​From a recruitment perspective, we are currently experiencing an extreme shortage of entry-level Payroll staff – those who earn between $50,000 and $70,000 per annum. This is happening for several reasons, including: Those thinking about employment direction don’t really understand the Payroll career and all it brings Employers are reluctant to take on candidates with little or no experience, but this is slowly changing as transferrable skills and attributes-based hiring becomes more common Employers are often reluctant to hire job seekers from other countries, assuming that they don’t have an understanding of local New Zealand legislative requirementsAnd it’s not just junior candidates who are hard to find. We are also seeing a shortage of quality Payroll candidates at the management level. There are a few reasons for this. From my experience, staff shortages mean senior payroll specialists often spend longer in hands-on roles out of necessity as well as the fact that payroll work lends itself to contracting – so those that are senior/experienced may move into more gig-based work. So what can we do to entice more people into the profession of Payroll? Misconceptions of What Payroll IsPayroll is one of those functions that can be taken for granted – it just “happens” in the background. Therefore there is a often a lack of understanding of the specialist skills, attention to detail, numeric skills and interpersonal qualities that great payroll team members usually have. There have unfortunately been some fairly high profile payroll-centric stories in the media over the last few years – I am concerned this may influence those who are considering a move into payroll. In reality 99% of the payroll work being done is incredibly high-quality with hundreds of thousands of kiwi workers getting amazing, accurate payroll outcomes. It would be great to see Payroll have specific qualifications and industry benchmarks, like, for example, Chartered Accountants. This would provide a regulatory body for Payroll, with regular training and updates to keep processes consistent across the market. It would also help during times of legislative change as Payrollers would have one centralised source to learn from. Finally, it would provide some sort of tiering system to benchmark Payroll roles because job titles are often company-specific and not market relevant. What Can Be Done?In order to overcome some of the talent-shortage challenges facing Payroll professionals and their employers we’d love to see:Employers should be open to looking at candidate applications with international experience or those with less Payroll experience when hiring. Instead, they should look for enthusiasm, transferable skills and the capability to learn on the job with the right support and training.Education providers should open courses to international candidates entering the New Zealand market – providing them with updates in local legislative requirements. This could also be useful for entry-level employees.Industry leaders should develop and distribute a best-practice framework that operates across all businesses to standardise and support people working in Payroll jobs.Working With Beyond RecruitmentHere at Beyond Recruitment, we have a team dedicated to the Accounting, Finance & Financial Services sector. We are passionate about matching professionals working in areas like Payroll with employers who are supportive and value their contribution to the business.Get in touch with one of our team members today to talk more about shifts and trends in the Payroll market, and how we can work together to find your new job or team member.

​With the job market on a strong rebound after the latest COVID-19 lockdowns and vaccination drive, the basic consideration in job hunting – the salary or hourly rate of a role – has re-emerged again as a top concern for candidates. Salaries and rates across a range of industries and jobs have significantly increased since 2020, as companies adjust to increased competition for talent. Although some employers are adapting well to changing expectations from candidates, others might need more guidance to understand what the playing field currently looks like. So, why is competitive pay important? I'll dig into some of the reasons below, and what you can do to ensure you're not missing out on the best candidates in a tight market. ​Savvy Employers Are Changing Their Approach to Pay In recent months, we've noticed a definite shift in employers' attitudes towards salaries for new hires. Clients have conveyed to us their understanding that a competitive salary will be more attractive to candidates and will increase the likelihood of a job offer being accepted. With this change in approach, I see more job offers coming in with a higher salary or hourly rate than the amount we submitted the candidate at. And the payoff is immediate – candidates have expressed their surprise and happiness when offered a higher figure and have quickly accepted the job. Even a $5,000 bump in pay can make a new hire feel extremely valued. You could liken these higher pay offers to a sign-on bonus. Designed to entice candidates, sign-on bonuses are lump-sum amounts, or a series of smaller amounts paid to a new hire over the course of a year. These bonuses are becoming more prevalent as talent shortages get worse in New Zealand and overseas. In the UK, for example, bus drivers are being offered as much as £4,000 to accept a role, whilst bonuses as high as $10,000 are reported in Australia. Employers' renewed willingness to exceed salary expectations is a refreshing change compared to recent years, when offers were frequently coming in lower than what candidates were expecting. This led to a number of candidates declining job offers, with many stating they had received a higher offer elsewhere. Top Talent Isn't Afraid to Walk Away Over Salary Whilst clients are now recognising the importance of leading with their best salary offer, some offers are still coming in below the salary the candidate is expecting. Unsurprisingly, going too low has a huge impact on the outcome – these offers are typically not accepted by the candidate. In these situations, candidates have expressed to me their disappointment and the feeling that their skills and experience aren't being fairly evaluated. Offering too low a salary can also make recruitment more expensive overall. Taking more time to fill a position adds operational impacts on the business, whilst hiring someone at a lower rate can create a temptation for them to leave the role as soon as a better-paying opportunity comes up. And, you risk creating negative word-of-mouth about your employer brand, which could make it harder to attract people in the future. Conversely, the companies offering above the expected salary are adding more sparkle to their value proposition, as candidates who have been offered more will tell their friends and family. In short, the pay you offer can affect your company's image – for better or worse. Arm Yourself with Data Market research is essential in this fast-evolving environment, as companies that understand current pay trends will be in a better position to negotiate the right figure with a candidate. We recently reported salary expectations bumping up by as much as $15,000-$20,000 for the same role compared to two years ago, so there is a high risk that some employers' offers are nowhere near the same vicinity as candidates' expectations. If your organisation appears to be lagging on salary expectations, having the right data equips you for making the business case to your executive team for increasing remuneration for a particular role. Talking to a recruiter about salary trends can help you get up to speed on current pay data and allow you to benchmark accurately. For an in-depth look at current pay rates, competitive salary examples and the factors currently attracting candidates to jobs in New Zealand, check out our Beyond Recruitment Economic & Labour Report 2021-22. The Takeaways ​A competitive pay offer is one of the key candidate attraction strategies available to employers. Companies that are willing to adapt to current market conditions will get the talent they need quickly, so be prepared to offer a bit more during this time. And in this talent-short market, speed is crucial if you wish to avoid losing a candidate to a competitor. Preparing your business with up-to-date salary data will help you move quickly on a job offer when you've found an excellent candidate. If you need specific advice on making a competitive salary offer or securing the best talent in the market, our team of Technology, Transformation and Digital recruitment specialists can help your business achieve its goals. Get in touch with me to find out more. ​

​Team UpdatesAs this year draws to a close, we have a few exciting updates for our Beyond Recruitment Wellington HR Dream team! ​Meet Yassmin ​First off, we’re thrilled to welcome Yassmin Lomeli, who’s recently joined us as our Resourcing Associate. ​Yassmin is originally from Mexico, where she previously worked as a clinical psychologist. An avid traveller, she has lived in Tanzania, Italy, Bermuda, the USA, and is now looking forward to calling New Zealand home. After the tumultuous events of the COVID-19 pandemic, Yassmin pursued a postgraduate degree in Psychology to keep learning and developing herself. In her free time, she volunteers with YouthLine, a charity organisation that supports young people throughout Aotearoa. Yassmin is super excited and proud to be part of Beyond Recruitment, an organisation committed and dedicated to working to benefit New Zealand and its people. Glad to have you onboard, Yassmin! ​Congratulations, Lily ​We’d also like to congratulate Lily, who has recently been promoted to Client Manager. ​Lily is the specialist recruiter in all HR Administration, Coordination, and entry-level Advisor positions, across the permanent and fixed-term markets. In her time, she’s built a strong pool of candidates across these areas. Lily has successfully helped several fantastic up and coming superstars this year and looks forward to recruiting the top talent our clients need to take their organisation further. ​Moving Forward ​Overall, we’re still experiencing an incredibly tight candidate market and we are continuing to draw from our well-established networks to source great talent. Our success through 2021 has increased demand for our services, which has resulted in the continued growth of our team. ​We anticipate 2022 to kick off quickly as many of our clients will, unfortunately, be leading into the new year with vacancies in their team. If you are struggling to attract the talent you need right now, we can help! Our expert team have developed targeted strategies to assist you with sourcing the top talent you need to lift your organisation’s brand in the market and are happy to help you find the people your business needs during this time.- HR Dream Team Wellington Julie Le Prou (julie.leprou@beyond.co.nz) Louise Pierce (louise.pierce@beyond.co.nz) Lily Pearson (lily.pearson@beyond.co.nz) Yassmin Lomeli (Yassmin.lomeli@beyond.co.nz)