Financial staff appointments are strategic

Difficult  market conditions: Justin Barber, Director of Elevation Recruitment's professional practice division
Difficult market conditions: Justin Barber, Director of Elevation Recruitment's professional practice division
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Sheffield companies are looking to the future and making strategic appointments of financial staff, rather than consolidating, according to a South Yorkshire recruitment specialist.

Justin Barber, Director of Elevation Recruitment’s professional practice division, says the accountancy profession has had its fair share of problems, but a number of firms are now making appointments to assist their growth and development.

Mr Barber adds that people seeking new jobs are no longer driven by a desire to increase their salary in the short term, but are looking for opportunities that can enhance career prospects and enable them to avoid being trapped by a glass ceiling at their present employer. “Over the past two years, the professional practice market has experienced very difficult market conditions with pricing pressures, lack of client growth and almost nonexistent bank lending, all which has played a part in the downturn,” said Mr Barber.

“The recent improvement in market conditions has now been demonstrated by evidence of firms lifting pay freezes and offering their employees’ pay rises or performance related bonuses, although generally salary increases will certainly remain lower than what was expected prior to the recession.”

The level of pay for newly qualified accountants is up to 15 percent lower at some firms than it was in 2008/2009, as a result of the downturn.