The monthly IHS Markit/REC Report on Jobs put accounting and financial staff at the top of the list of most sought after employees, up from fifth place in September last year, and displacing engineering specialists. Recruiters gave vacancies in this area a reading of 67.3 compared with 56.3 twelve month ago.

The survey of recruiters suggests audit, accounts, finance, paraplanners, payroll, risk and treasury are the key permanent staff skills reported in short supply, while audit, accounts, credit control, finance, payroll, risk and treasury are the key temporary staff skills reported in short supply.

Kevin Green, REC’s chief executive, said: ‘Candidate availability has been falling for the past four years and the record high UK employment rate plus a slowdown in the number of EU nationals coming to work here is exacerbating the situation, potentially leaving roles unfilled.

‘Across the UK permanent placements are slowing, but London is faring worse with placements declining for the first time in eleven months and the financial sector in particular struggling to recruit for roles such as audit, payroll and risk.’

Separately, recruitment specialist Robert Half has released its 2018 Salary Guide which shows that on average salaries increases in finance are set to fall below the national average (of 1.40%) to 1.22% in 2018. In comparison, technology will outpace other professions - as starting salaries see a 1.9% increase, with junior developers and senior business analysts set to see as much as a 4.5% salary increase. 

However, the guide suggests newly-qualified fund accountants, CFOs and finance controllers are in line for the biggest increases in starting salaries within finance and accounting roles, with rises of around 4%, as the competitive market for high-performing talent within technology as well as accounting and finance, drives salaries higher.

Financial controllers and risk associates who can combine technical skills with commercial awareness and business acumen are sought after as firms focus on improving the overall productivity of the finance function. There is also growing demand for CFOs who can transform finance and introduce greater automation.

Robert Half says that on the whole, starting salaries within finance and accounting will increase over the next 12 months and those professionals with specialist skills or industry-specific experience are likely to benefit from the greatest increase.

Phil Sheridan, senior managing director at Robert Half UK, South America and the Middle East, said: ‘One of the biggest challenges plaguing all UK businesses is the shortage of specialist skills. In an effort to win the war for top talent, organisations are willing to pay a price for those with the right skills to support their business goals.’

Robert Half 2018 Salary Guide is here.

Report by Pat Sweet