Insights

Q4 2022: Finance Recruitment Market Update - Switzerland

Q4 2022: Finance Recruitment Market Update - Switzerland

As we begin the final quarter of 2022, one thing is for certain: the rate of change and challenge has not decreased in the last three months, but the Finance recruitment market remains extremely strong, with high levels of competition for candidates.

Candidate market

The unemployment rate in Switzerland remains low, at 2% in August 2022 (source: State Secretariat for Economic Affairs). This is a sign of a positive and stable economy, but also a factor in why some Finance roles are proving difficult to fill, as most people who were displaced during the pandemic have secured positions.

Highlighting a key shortage – Accountant and Controller level

Many companies have reported greater difficulties when recruiting for roles such as Accountant or Controller. One of the key reasons for the candidate shortage at these specific levels has been the move to remote shared service centres, which has reduced the flow of people entering the Finance & Accountancy profession in Switzerland.

The impacts on recruitment are:

For recruiters:

  • Traditional recruitment methods are not delivering success
  • Individuals who began their careers in 2020 have only ever known hybrid working, so this is a key factor in their decision-making
  • Employer brand and a relevant benefits package is extremely important
  • Recruitment processes are often not matched to the desired audience
  • Roles requiring languages in addition to English are significantly more difficult to fill  

For job-seekers:

  • High demand means greater choice of opportunities
  • Rising salaries
  • Changing job can be achieved quickly
  • Benefits and working conditions may be open to negotiation
  • Counter offers are being offered more regularly by employers

Counter offers made to candidates to retain staff in this competitive market include: higher salaries, enhanced hybrid working arrangement or even fully remote working.

At EMEA Recruitment, we share market insights with our clients before developing tailored recruitment campaigns that generate interest from the desired audience and lead to successful appointments.

In the current climate, an increasing number of clients are choosing to work with us on a retained basis, to ensure they are at the forefront of the battle for talent.

If you require help to recruit, please get in touch and we will gladly share market information. Please reach out to Mark Robinson: [email protected].

If you are considering your own career path, there is no better time to speak to an expert and ensure that you have access to the right opportunities.

Hybrid working – how does it impact recruitment and onboarding?

Experienced Finance professionals have reported finding it harder to integrate into a new company, primarily because of the lack of time spent physically in the same location as their colleagues and peers. Many people at this level are happy to spend more time in the office, particularly during their learning curve.

Individuals who began their careers during COVID have only ever experienced hybrid working (initially more heavily home-based due to lockdowns), so are used to spending less time in the workplace.

When we are working with a business, we make sure that we fully understand the hybrid working requirements of both client and candidate from the outset, to ensure a smooth recruitment process with clear understanding on both sides, and work with both parties to achieve the right outcome.

Once employment commences, we maintain contact with both parties to help with the onboarding process and maximise the chances of a successful appointment.

Future impacts of hybrid working:

  • Are hybrid policies consistent across existing and new employees?
  • Is it as easy to identify good performance and potential for internal progression?
  • Does hybrid working lead to less engagement and feeling of belonging at a company?
  • Will average tenure in companies decrease if people are less bought in to their employer?

We will be running a series of LinkedIn polls to gain further insight into some of these topics. We hope that you will participate and enjoy reading the results in our next newsletter.

Summary

Having access to current market information, whether you are hiring or job seeking, is more important than ever before.

If you would like discuss your own career situtation or hiring into your team, we would be happy to speak with you: [email protected]   

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Are you Investing in a Diverse Workforce?

Are you Investing in a Diverse Workforce?

With DE&I on the agenda for both employers and employees, companies around the world are focusing on developing their diverse recruiting strategies, therefore, good practice of hiring candidates under a process that is bias free is paramount.

Diverse recruitment should be aimed on finding the best possible candidate, regardless of a person’s background, and with equal opportunity given. Having diverse teams can contribute to newer and more varied ideas, resulting in companies being more innovative, creative and, overall, achieving better results.

It's also important to note that diversity in the workplace is not solely focused on business results and performance, but equally on building teams from qualified candidates, irrespective of their age, gender, background, race, religion or sexual orientation - this is long overdue and a step towards true equality in the workplace.

Diverse recruitment has many tangible benefits for performance and productivity, such as a broader range of skillsets, increased language and cultural awareness, and a more varied candidate pool.  

“Research from McKinsey & Company shows that the most diverse companies are also some of the most profitable: those in the top quartile for gender diversity on their executive teams were 21% more likely to experience above-average profitability than companies in the fourth quartile. As far as cultural diversity goes, companies in the top quartile were 33% more likely to have higher profitability than their less diverse counterparts.”
https://www.moonworkers.co.uk/blog/5-reasons-why-a-diverse-workforce-is-beneficial?gclid=Cj0KCQjwjvaYBhDlARIsAO8PkE31_jm8-HoPOUQGnEg7sHGlB8KR652Gys0JsIYi8l5k3aim2cxfaQYaAqc8EALw_wcB

When recruiting with a diverse strategy, it’s crucial to measure the metrics of your hiring process. Understanding what your company is aiming to achieve in its recruitment and appealing to a diverse demographic is an effective way to encourage a wide range of applications.

So, how can you encourage such applications?

Tips on diverse recruitment

  • Audit your previous vacancies and make the necessary changes that will appear to a wider, more diverse audience - make sure the language used isn’t masculine, feminine or aimed towards a certain qualification level, seek to be more inclusive in the wording so as the vacancy can appeal to candidates with different backgrounds
  • Source candidates from different platforms - LinkedIn is one of the best tools to use for sourcing, but do not rely on the same channel to find your diverse candidates, as simply using the same platform, time and time again, can result in a similar talent pool and potentially lack in diversity
  • Ensure there are equal opportunities at screening - are the applications you receive anonymous? Are your pre-screening methods blind? Does your ATS system have the technology to flag or filter specific skills and experience? All the above will help you to remain free from bias throughout the recruitment selection process
  • Boost your employer branding - displaying your employer brand that naturally values its people and opinions from all backgrounds can be appealing to diverse candidates
  • Review your policies – company policies that appeal to a wide range of people demonstrate that diversity is valued and embraced as part of the company culture

Diversity recruitment is based on talent and merit, encompassed with ensuring measures are in place to reduce bias when selecting the right candidate. To ensure you have a strong diverse recruitment strategy, do take the above into consideration. 

We have noted a significant increase in payroll vacancies, particularly within the manufacturing and company software development industry over the past three months. These larger, multi-national companies have found such roles more difficult to recruit for, thus turning to external support.

If you require recruitment support for your difficult HR roles, contact our international Associate Director, Katie Insley, on [email protected] or +31 20 241 73 66, who can discuss with you the services she has provided to previous clients and how she can support you with your recruitment needs.

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Attracting and Retaining Talent for Growth and Sustainability

Attracting and Retaining Talent for Growth and Sustainability

What recruitment process should you look at implementing to ensure you are attracting and retaining the right candidates to help grow and sustain your business?

This question could not be more topical than it is today.

Candidates are seeking quality of life from their employment, no longer accepting the working conditions pre-2020; the “great resignation” is not a myth, but a fast-growing worldwide reality that is being fuelled by the choice available on the open market.

The continuous job vacancy growth over the past six years for the Netherlands market has been recorded across all sectors. 

"The number of new vacancies subsequently rose by 400,000 to 1.4 million in 2021, reaching the highest level ever recorded. The increase was visible in all occupational classes. This is evident from new labour market figures which have been released by Statistics Netherlands (CBS)." Source: https://www.cbs.nl/en-gb/news/2022/23/more-new-vacancies-in-2021-for-all-occupations

Candidates in the Dutch market know they are in a strong position to demand a great work-life balance, choosing organisations demonstrating strong ethics and morals, inclusive directives, and clear corporate policies.

Many Netherlands based organisations offer attractive packages with education stipends and reduced hours to ensure they attract the best candidates on the market.

It is imperative for organisations to address these fundamentals, not only to attract the right level candidates, but to develop and retain your workforce to ensure growth and future success.

Do you consider your workforce your strongest asset?

Once you have addressed your internal structure to promote your organisation, you should also consider reviewing your hiring processes. Is it robust, efficient, or even fit for purpose?

Efficiency is key. Long recruitment/interview processes with multiple testing and difficult panel scenarios can hold a negative impact on your next generation workforce. It’s important to keep momentum of the interview process to ensure a successful outcome.

We hear from many candidates who have entered a difficult recruitment process and cited they have felt “stressed”, “under pressure”, “unable to deliver” and “de-valued”.

Competitors with quick, fluid decision-making processes are often the most successful in attracting and identifying the right level talent.

This hiring process is not just about an organisation considering the suitability of a candidate, but also the candidate considering the suitability of the organisation.

First impressions

Deliver an opportunity that is going to be well received; first impressions really do count:

  1. Write a job description that accurately reflects your hiring needs. Make it realistic and competitive, not only within the external market, but also with your internal structure.
  2. Highlight and promote your organisation’s internal policies.
  3. Define a robust recruitment process, which covers the process from application/interview to offer within a succinct timeframe.
  4. Provide clear feedback to all engaged with the process, even those you don’t wish to offer; negative feedback can impact the reputation of your organisation for future hiring.
  5. Make the hiring process enjoyable for all parties.

Growing your reputation in the market will enhance your credibility and attractiveness to invite and retain the future generation workforce you are seeking.

For more support and guidance in streamlining your hiring process, EMEA Recruitment can provide advice on delivering a robust process. If you are interested in finding out more or have any further questions please reach out to David Harper.

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Q2 2022: Netherlands HR Recruitment Market Insights

Q2 2022: Netherlands HR Recruitment Market Insights

As we enter Q2, we have continued to see a buoyant recruitment market across Human Resources and significant turnover within HR teams. As businesses continue to grapple with this challenge, attention has turned to retention strategies and how businesses can keep their talent engaged.

We ran a poll in January asking our network what the most important factor was when looking to retain top talent, with the following options: improved reward package, visible career path, leadership style and culture, and company sustainability agenda.

There was a strong leaning towards leadership style and culture, with many commenting that, if this fails, a business will not be able to achieve the other factors, and that leaders need to listen, hear and act upon the changing needs and desires of their workforce.

There is the feeling that autocratic leaders will lose out to inclusive leaders that show their humility, as well as high levels of emotional intelligence, which has been a critical skill as they’ve been asked to lead virtual and often highly stressed teams over the last couple of years.

Others commented that a focus on work/life balance and wellbeing remained a top trend, and that ensuring interventions were put in place to prevent burnout were essential.

Latest Events

Last quarter, Katie Insley, Associate Director for HR recruitment in the Netherlands, hosted a virtual Q&A session with Bianca Eder, Global Head of TA for Upfield, and Koos Wurzer, Global Head of Employer Brading for Danone.

They shared their thoughts on how the world of Talent Acquisition has evolved with the development of technology and AI. Katie agrees that, while new technologies can streamline processes and hopefully contribute to a positive candidate experience, they can’t, at this stage, substitute the human touch that is still such an important part of the recruitment process.

They discussed the importance of a strong employer brand and Koos shared some great tips on how this can be tackled, especially in an international, multi-cultural environment.

They also discussed that businesses are now having to, more than ever, sell themselves and what they can offer the candidate if they were to join. Hybrid and flexible working arrangements remain high on the candidate wish list, as well as competitive packages and wellbeing initiatives.

We’re always keen to hear from our network about topics you’d like to be covered in future events, so please do reach out if you have suggestions and ideas to share.

If you’d like to see the full session, you can follow this link: https://youtu.be/R9lw3u06ywA

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Exclusivity in a Competitive Dutch Job Market

Exclusivity in a Competitive Dutch Job Market

How can working with us exclusively introduce you to the best talent in a candidate-led market?

Over recent months, the Netherlands has seen an increase in hiring and, particularly at certain levels of experience, a decrease in applications to advertised roles.

Consequently, we have moved into a candidate-led market, a market in which candidates are very often in multiple processes at once. Clients can decide to use multiple agencies, thinking they are reaching a wider range of candidates but, in reality, candidates can be contacted by multiple agencies about the same opportunity.

From a company’s point of view, this blurs their value proposition and, from a recruiter’s point of view, can lead to working with speed, rather than in a consultative way. As a candidate, you don’t buy into the proposed role as much and very often there can be less clarity in the process.

With candidates consistently asking recruiters if roles are exclusive, it is clear that using multiple agencies can not only make your value proposition unclear, but also can slow down your hiring process.

With exclusivity (working with only one agency on your vacancy/vacancies), there is a focus on the role, the client proposition and the client brand. This allows candidates to buy into the business and the role, thereby enhancing the candidate’s journey. It can help to ensure you don’t miss out on the best talent for your team.

As part of the Exclusive approach at EMEA Recruitment, we ensure you are being introduced to the best talent in the market, as we:

  • Proactively seek out passive candidates
  • Carry out thorough career consultations with candidates
  • Offer the option of video shortlisting
  • Work with you to define timeframes and deadlines
  • Offer a single point of contact
  • Bring a consistent brand image to the market
  • Always ensure high service levels for candidates (both successful and unsuccessful)

This achieves an excellent success rate and overall positive applicant experience. To find out more about our Exclusive and Retained approaches, please contact Hannah Mallia: [email protected] 

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Q2 2022: Finance Recruitment Market in Switzerland Update

Q2 2022: Finance Recruitment Market in Switzerland Update

Looking back at the Finance recruitment market in Switzerland in Q1 2022, it is apparent that what looked like it would be a straightforward period of continued recovery took a number of unexpected twists, with the sudden and swift rise in COVID-19 cases, coupled with the unfolding situation in Ukraine. 

From a Finance & Accountancy recruitment perspective, the first three months of 2022 continued in a similar fashion to Q4 2021, with high volumes of advertised vacancies in the visible Finance recruitment market - approximately 30% higher than we witnessed in the same quarter of 2021.

Competition for candidates remains fierce, with some candidates securing multiple job offers. These candidates have found themselves in the privileged position of choosing the best option in terms of career development, long-term potential and improved financial package.

Many employers found recruitment difficult, due to a shortage of desired candidates and greater competition for them, and had to adapt their recruitment processes to increase the chances of appointing, often by speeding up the process or by combining - or even removing - some stages.

Hybrid working remains an important factor in Finance & Accountancy recruitment, particularly as the recent rise in positive COVID cases in Switzerland has returned focus to this issue.

The next quarter

Predictions are difficult in the current climate and, although many companies are working hard to support staff in regions affected by recent global events, we have not seen any evidence of a slowdown in recruitment or business planning in Switzerland.

There has been evidence of some companies returning to greater home working on a voluntary basis, but hopefully this is just a short-term impact.

We would like to hear from you

The team is planning to run a LinkedIn Live discussion in May, where a number of HR and Finance professionals from key companies in Switzerland join us to discuss recruitment and the challenges it faces, such as candidate shortages, salary pressures, skills gaps and recruitment difficulties.

Whether you are job seeking or planning recruitment, please send your questions to John Byrne and we will factor them into the discussion: [email protected] 

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