4 in 10 Accountancy and Finance professionals in Asia open to new career opportunities
Singapore, 5 June 2024 - Hays, the global leader in workforce solutions and specialist recruitment investigated the latest trends driving accountancy and finance professionals today.
The 2024 Hays Asia Salary Guide which surveyed 8,525 skilled professionals and 3,089 employers throughout Asia revealed that 35% of accountancy and finance professionals were seeking a change of organisation while remaining within the same role or industry. 31% of respondents sought a promotion or a change of role within their current company, while 43% were open to new opportunities.
John Borneman, Regional Director at Hays Singapore, commented: “According to the research, employees in Singapore cited a lack of career progression and a desire to seek new challenges as their primary motivator when seeking opportunities elsewhere. Notably, salary packages were not the chief reason employees gave this year.
Candidates looking to take a leap are putting increased value on work-life balance and flexible work options as return to the office mandates become more prevalent. Furthermore, salary expectations have tempered slightly and become more aligned to employers expectations compared to previous years.”
- Managing data today is a crucial skill. As the need for accurate analysis grows more pertinent, more candidates are expected to be familiar with Enterprise Resource Planning (ERP) software.
- Workplace transformations brought about by the introduction of new technology will require talented change managers to ensure smooth transitions as businesses look to move away from legacy processes.
2024's Most In-Demand Accountancy and Finance Roles in Singapore
The integration of data analytics tools and the emphasis on getting systems operational during the COVID-19 pandemic have played crucial roles in helping businesses develop processes with improved visibility of their profit and loss (P∓L) from a regional or market perspective. With access to better data, informed business decision-making has become achievable through the efforts of business partners who can effectively dissect the data for internal stakeholders.
There is a noticeable uptick in the need for finance analysts within firms, particularly those that segment the market across the Asia-Pacific (APAC) region. In these firms, each analyst is tasked with overseeing key revenue and expense drivers within their respective markets. Subsequently, their findings are aggregated to provide an overview of the APAC region, while simultaneously enabling the identification of unique market challenges and opportunities within each segment.
Since the pandemic, there has been a pressing need for firms to enhance their efficiency, prompting many to turn to online processes and adopt more efficient systems. From a procedural standpoint, larger multinational corporations (MNCs) often grapple with legacy processes spread across disparate systems that lack integration. Finance transformation leads are crucial towards leading these changes, ensuring a smooth transition.
2024's Most In-Demand Accountancy and Finance Function in Singapore
The growing necessity for such candidates is fuelled by the increasing number of companies seeking their expertise. This surge in demand has created a palpable need for individuals proficient in finance analytics, with organisations recognising the value they bring to the table. Consequently, there is now heightened competition among firms to secure these highly sought-after candidates, driving recruitment efforts across the industry.
More details regarding accountancy and finance trends and associated in-demand jobs in Singapore can be found in The Inside Story of Accountancy & Finance 2024. Download your copy here.
Hays Malaysia Marketing Team
T: +603 7890 6234
E: Marketing@hays.com.sg
About Hays Singapore
Hays Specialist Recruitment Pte Ltd, Singapore ("Hays Singapore") is one of Singapore's leading recruitment companies in recruiting qualified, professional, and skilled people across a wide range of industries and professions.
Hays has been in Singapore for over a decade and boasts a track record of success and growth. We operate across the private and public sector, dealing in permanent and contract positions, and workforce solutions such as recruitment process outsourcing (RPO) in the following specialisms: Accountancy ∓ Finance, Banking ∓ Financial Services, Engineering, Human Resources, Legal, Life Sciences, Marketing ∓ Digital, Office Professionals, Procurement, Supply Chain, Sales and Technology. We continue to strengthen our position in Asia with the world-leading ISO 9001:2015 certification in all our operational markets including Singapore, China, Hong Kong SAR, Japan, Malaysia, and Thailand.
About Hays
Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK, Germany and Australia and one of the market leaders in Continental Europe, Latin America and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2023, the Group employed over 12,300 staff operating from 249 offices in 33 countries. For the year ended 30 June 2023:
– the Group reported net fees of £1,294.6 million and operating profit of £197.0 million;
– the Group placed around 76,800 candidates into permanent jobs and around 245,000 people into temporary roles;
– 15% of Group net fees were generated in Australia & New Zealand, 30% in Germany, 21% in United Kingdom & Ireland and 34% in Rest of World (RoW);
– the temporary placement business represented 57% of net fees and the permanent placement business represented 43% of net fees;
– Technology is the Group’s largest division, with 26% of net fees, while Accountancy & Finance (15%) and Engineering (10%), are the next largest
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK and the USA