Finance and accounting hiring intentions decline
The financial services sector, and accounting and financing are lagging behind other professions in terms of hiring intentions due to employers cutting costs as Australia transitions from a commodities-based economy to a knowledge economy.
Recruitment firm, Hudson, released the ‘Hudson Report', which showed only 31 per cent of employers in financial services were looking to increase headcount in the second half of 2016.
Figures illustrated Australia was well under way in transitioning to a knowledge economy, with 42 per cent of the technology sector looking to hire permanently, while 41 per cent of employers in this sector sought to increase headcount this year.
However, only 32 per cent of the financial services/insurance sector had permanent hiring expectations.
Only 21 per cent of employers in the accounting and finance profession were looking to increase headcount in the second half of 2016.
"Many companies are yet to transform their accounting teams into true business intelligence units and, as a result, are unwilling to invest significantly in them," the report said.
"Opportunities exist here for smarter hiring."
The report showed a healthy outlook for professional services (40 per cent permanent hiring expectations), reflecting the way services were steering the economy away from resources and mining.
AUTHOR
Malavika Santhebennur
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
