Job-hoppers out of luck in financial services

Job-hopping comes with a price in the financial services industry, according to new research released by accounting recruitment specialist company Lloyd Morgan.

It said that one in five accounting and auditing employers were rejecting candidates because of job-hopping employment records — and this was despite the fact the oversupply of skilled professionals was actually contracting.

The research is contained in the Lloyd Morgan Skills Index compiled by KPMG Econtech, which is regarded as a key measure of underlying demand and supply for accountants and auditors in Australia.

What the index has found is that the employment market has moved from a position of significant oversupply of workers to a more balanced level.

However the index analysis suggests that with economic conditions continuing to improve, the availability of accounting and auditing skills will become scarcer.

Commenting on the index, Lloyd Morgan national manager Will Gordon said employers had a preference for candidates with at least three years experience in a single job — despite an increase in demand for accounting and auditing professionals such as credit controllers, payroll staff and those who were recently qualified.

“Employers are less likely to hire a candidate with unstable employment histories and are now demanding higher levels of commitment and job stability,” he said.

Gordon said this was particularly true for those in the 25 to 35 year age group, with a number of employers requiring a minimum of three years working with the one employer.