Accounting and finance roles are varied, but some positions are harder to fill than others due to a combination of specialised skills required, strict regulatory environments, or highly competitive market conditions. Financial Analyst, Accountant, and Risk Manager are among the most difficult roles in accounting and finance that HR departments often struggle to fill vacancies for.
Candidates for these positions need a combination of financial knowledge, analytical skills, and strategic vision. Risk managers, for example, must be able to identify potential risks and opportunities, which often requires a deep knowledge of regulatory frameworks and market conditions.
These roles have nuanced requirements, making it difficult to find qualified candidates. This creates a bottleneck for the recruitment pipeline. The inability to fill critical roles even has real world impacts on financial statements, for example. For your accounting needs, consider Tewkesbury Accountants like https://www.randall-payne.co.uk/services/accountancy/tewkesbury-accountants
Factors contributing to difficulty
Specific Skill Requirements
Expertise is a key factor in accounting and financial service success. Many accounting and financial services roles require technical proficiency, certifications in the industry, and an understanding of financial and legal principles. High entry barriers can reduce the pool of qualified candidates and make it difficult to find someone who meets all of the requirements.
Market Competition
The top talent in corporate finance and accounting recruiting is highly sought after, as leading firms compete for the few selected candidates. This competition can result in bidding wars, fierce retention strategies and ultimately make it hard for smaller or less-established organisations to attract prospective job seekers.
The Regulatory Landscape is Changing
Corporate accounting and financial services are heavily regulated and for good reason. In the aftermath of 2008’s financial crisis, regulations have increased in many areas. This includes risk management and compliance. Even seasoned finance professionals can be left behind by the fast-paced regulatory environment. Only those who are willing to keep up with the changes will succeed.
Finance Recruitment: Lacking or difficult tools/technology
Finance recruiters in the accounting and financial service industry have historically faced a dual challenge: outdated hiring practices, and antiquated technologies. It is not only difficult for them to find qualified candidates, but it also makes the recruitment process less appealing to job seekers. Modern finance recruiters need modern tools in order to be successful in an increasingly digitally driven economy.
