60 Seconds – How is the CFO/Finance Director Job Market?
With Paul McClatchie head of Senior Appointments
What sectors are busiest?
The quickest expansion has been FinTech. There are a range of new entrants to the market to supplement the strong core that previously existed. Tech companies of all sizes are hiring.
Which are the primary role titles you have been busy placing in?
More Finance Directors and Financial Controllers than CFO’s in recent months although it was the other way around in 2020.
What overall market trends you have noticed?
Accountants who have worked in PCF roles in the past are in demand. There is a clear growth in the FinTech arena with a range of new and existing organisations ramping up their hiring due to demand. Construction and related sectors are growing at an accelerated rate which is very exciting as it is the sign of a growing economy.
Tell us a bit about what is happening with salaries, are they increasing/decreasing? Have company the benefits changed at all since C19? What about offer packages for candidates?
C19 surprisingly has had little impact on salaries and packages. The trend is for senior salaries to continue to rise marginally each year. Irish companies with t/o’s of lower than 50M naturally pay a more modest base salary and package. In general though, base salaries across the board are rising while pension contributions are reducing in industry. With regards to benefits, every company has a unique healthcare contribution policy. This is not standardized and it is hard to put a figure on it, I advise my candidates that each company will have a unique offering. A major difference about offer packages is that in times gone past, bonus percentages were rarely mentioned with job offers, whereas now they are included on the offer letters and considered a part of the offer.
A lot has changed with working circumstances in the past year and a half. How are employers opinions now changing? Are companies being flexible, do they want fulltime office workers/ hybrid/ fully remote workers?
This will be an interesting area to keep an eye on in the coming months. Most of our clients are on the fence about the longer term and haven’t yet crystalised these plans on paper; and in most cases the individuals we place are understanding about this. In a hiring process, I am advising Hiring Managers to explain to the candidate what is working well for the current team and encourage them to find a suitable solution. Most companies are planning on, if not already currently running, a blended model of working with some time in-office and some remote. One major update is that, organisations outside of cities have opened the geographic areas they are hiring from leading to the attraction of a wider range of diverse individuals who work on a hybrid basis.
Any other significant changes which have happened in your market over recent months?
There are more opportunities available in Irish companies for individuals seeking a 3- or 4-day week than there was previously. This can be a great opportunity to bring in a highly skilled professionals who can add significant value in a more cost-effective manner. It can also lead to stronger retention and a more diverse team of professionals.