Q1 has seen a rise in hiring practices of both permanent and contract roles in the North West. Similarly to Q4, there has been a continued demand for Fully Qualified Big 4 Accountants, looking for their first move in to Industry. On the other end of the scale, we have noticed a rise in Senior Finance vacancies which is a positive sign than many Financial Services firms are placing more importance on ensuring their departments are properly resourced can be fully managed by an experienced member of staff, especially with the new regulations kicking in later this year.
Last quarter, we saw a sizable increase of candidates actively looking for new opportunities. This rise has come about after the end of the financial year 2017/2018, when the majority of organisations paid their employees their annual bonuses and individuals have decided to find that next challenging step in their career.
As the new GDPR legislation deadline approaches on the 25th of May, clients and candidates are looking to ensure they are appropriately placed. Now that personal and private data restrictions are becoming more regulated, this quarter has shown a slight increase in candidates looking for GDPR contracting roles with clients making additional hires to ensure that they are compliant by the deadline.
As predicted at the end of Q4, there has been a steady increase in candidates looking to re-locate to the North for the right opportunity. This is partly motivated by the fact that many companies are moving their Back Office, Operations, Compliance and Finance teams from the South to the North in an attempt to save money and also to ensure opportunities remain within the United Kingdom, supporting the national economy.
Wealth and Asset Management
Since January, Regional North’s Wealth and Asset Management desk has noticed a huge shortage of candidates with previous Financial Planning experience. As a result, many companies have started to consider candidates that are still in training, that do not have Financial Planning qualifications but that have the right attitude and the willingness to learn.
Operations and Compliance
The operations team has seen an increased need to fill back office roles as many companies are looking to grow and expand their already well established teams. Many clients have had to start thinking about a succession plan due to internal mobility; In general, there is no preference for specific qualifications, just previous and relevant experience working in an operations department.
In Q2, we are expecting to see a continued increase in general hiring practices for the North. The demand for Newly Qualified ACA Qualified Accountants to move in to Industry is likely to continue to increase.
Regional North would also like to introduce David Doherty and Christopher Neal to the team. David comes from a Business Change and IT recruitment background (seven years strong into Financial Services) and is now heading our Project & Change, IT, Compliance and Risk desks. Christopher started off his career in sales, working on the sunny beaches of Ibiza and then moved onto Educational and generalist recruitment for three years. He is now working alongside Josh on our Operations desk.