If you have been looking for a job in Accounting or Finance, 2018 is the best time for you. Luckily for you, Victoria's strong economy has been demanding more employees in the industry.

Below are new trends we expect to see in 2018 in Accounting and Finance recruitment.

Finance Skills

There is always a shortage in good accountants both within the industry and the profession. Clients are looking for candidates with 3 to 5 years experience in their specific business services. For example, in the audit area, it is difficult to find audit managers and senior auditors.

Now more than ever there is a greater demand for analytical and commercial accountants and companies expect more support across finance and accounting. Companies are looking for more insight into commercial accounting. This means being able to communicate well with non-financial people and managers along with the core skills required of an accountant.

All-Rounder CFO's

In 2018 there's a heavy focus on CFO's with a “do all” skill set rather than just a Finance focus. Companies are looking for people with all-round skills and a greater breadth of experience. This means that candidates will need to be more hands-on with stakeholder skills including strong leadership and communication within the business.

IT Skills

The importance of IT skills for Accountants and Finance Specialists is going to be emphasised in 2018. As companies are upgrading and changing their IT systems, such as switching to cloud-based technology (Xero), a candidate with IT skills to complement their accounting skills is a must.

Most accountants are proficient in Excel however this year they are expected to hold strong skills in data and modelling. A candidate who can work between IT systems can look at big sets of data and have more opportunity to find reports that add value to the business.

Millennials Still Want More

There has been a shift in the hiring process as job seekers are more focused on what else they get besides just the money. This shift comes from a growing number of millennials entering the workforce who expect other benefits offered in the job that provide contentment on levels that just financial security cannot.

Millennials are not as money-driven as older generations and are more concerned with added value, contentment and meaning such as sports club memberships, social and community incentives as well as a feeling of contributing to a bigger business purpose. For this reason, recruiters have had to change the way they talk to candidates in order to secure the job position.

This generation also has a high turnover, only staying in the same job for 2 to 3 years. This isn't due to unhappiness but rather a restless nature of people who are motivated to find more interesting work and who are always looking for the next big thing.  Don't forget, after some experience in the field they want to be more involved in the business rather than sitting in the background producing reports.

Professionals with a strong skill set in IT are in high demand this year meaning the competition is only increasing. Knowing what you need to do to get ahead and following these trends can put you in the category of an ideal candidate and top recruiter.

If you are looking for a career in accounting or finance or work within the industry and want to learn more give me a call on (03) 8606 0344