2021 MARKET INSIGHTS | ACCOUNTING & FINANCE
2022 MARKET INSIGHTS
Accounting and Finance. Specialist Recruitment
huntercampbell.co.nz
1
Kia ora and welcome to Hunter Campbell’s Market Insights publication. As we reflect on the year that was, we’re profoundly inspired by what we have achieved. Despite the year’s challenges, we continue to build strong networks both in New Zealand and globally. These connections enable us to deliver outstanding outcomes for the people and businesses we work with. Looking to the future, we grow and evolve. We are proud to welcome Hunter Campbell’s Specialist Sales and Marketing Division. Hunter Campbell’s Sales & Marketing division is a strategic addition to our offering. Made possible by our successes, our brand value and our reputation - and driven by our unwavering focus on improvement and growth to best service the needs of the market. As a business, we understand the importance of good chemistry. We create high-level connections through listening and learning, working closely alongside businesses and engaging with the best talent on offer. It’s through these relationships that we recognise the opportunity for a genuine sales and marketing specialist to deliver outstanding recruitment outcomes to the sector. To ensure the success of our new Sales and Marketing division, we’re pleased to announce the appointment of Director, Sindy Ward. Sindy’s appointment is further confirmation of our dedication to bring specialist experience to everything we do. Sindy joins
2
Hunter Campbell with eleven years’ experience building and leading teams of up to twenty employees recruiting across sales, marketing, HR, legal, operations and business support. Sindy is extensively networked in the sector and has strong affiliations with the key industry partners and bodies. Sindy is a devoted mother to three and has a varied background setting her up for her successful recruitment career; including eight years media and acting experience. Crowned Miss India World 2005, Sindy has an energy and drive that we know is going to make a huge impact for Hunter Campbell’s clients. Sindy’s understanding and hands-on experience in the sales, marketing and communications sectors will be complimented by the extensive background of Hunter Campbell Founding Partner, John Nevill. John’s impressive involvement in sales and marketing recruitment includes the establishment of a well-know, leading New Zealand sales and marketing recruitment business set up in the early 1990s. We’re excited for the year ahead. As we watch our Hunter Campbell Sales and Marketing division make its mark in the market, we know the possibilities for what may come next, are endless.
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
Contents. 01.
Economic Update - Brad Olsen, Principal Economist Infometrics
04
02.
Recruitment Trends
06
03.
Debunking Market Myths
08
04.
The New Zealand Labour Market Landscape
10
05.
Tapping into a Global Market Hunter Campbell in the UK
12
06.
A word from Lee Marshall
14
07.
Accounting and Finance Emerging Trends
16
08.
In Demand Roles and Salaries
18
09.
Thanks from us to you
20
10.
Contact Hunter Campbell
22
3
Economic Update. - Brad Olsen, Principal Economist Infometrics New Zealand continues to maintain strong economic foundations, but headwinds are building that will make it harder, and more expensive, to grow over the next year or two. High inflation and an intensely stretched labour market are chief concerns for the economic outlook, with businesses unsure about how to resource current orders with such scarce and costly resources available. Inflation is at a generational 32-year high of 6.9%pa in the March 2022 quarter, the highest since June 1990. Pricing pressures are broad-based, with domestic spending and overseas disruptions both fuelling the fire. Concerns remain that high inflation now influences higher inflation expectations, with the risk of more persistent price increases sticking around over the next couple of years. Government support to low- and middle-income households in Budget 2022 faces the unenviable task of trying to provide a band aid measure until October 2022, without adding too much more pressure to inflation. The Russian invasion of Ukraine has added extreme pressure to already limited resources and high prices, sending commodity prices for energy, food, and industrial inputs skyrocketing. Shipping prices remain high, and transport costs are now rising again after oil prices increased. China’s continued zero-COVID policy has seen substantial lockdowns across the country, with diminished production and further port disruptions.
4
A brain drain has emerged, with young Kiwis aged 20-29 leading the talent outflow. Over the last year, a net 7,000 more people left New Zealand than moved here, and expectations are for that outflow to continue. Infometrics estimates that around 40,000 New Zealanders who usually would have left, didn’t during the 2020 and 2021 years, and are looking to make up for lost time. Inward migration appears limited, with other parts of the globe reopening sooner and locking in talent ahead of New Zealand’s reopening. Immigration New Zealand visa processing timeframes also threaten to remain a key limitation on sourcing overseas talent. Pay increases are coming through as businesses seek to retain and attract staff but are still lower than inflation. Both Treasury and the Reserve Bank have highlighted that current demand levels in the New Zealand construction industry far outstrip the supply of materials and people, which is putting pressure on achieving economic growth
The workforce is severely stretched, with the unemployment rate remaining at a record low of 3.2%. Short-term, there are concerns around worker burnout, with considerable numbers of workers off with COVID-19 or as isolating household contacts, leaving other staff to pick up the slack.
and forcing prices higher. To dampen demand, the
Businesses are reporting the most difficult period on record to find workers, and the highest levels of job poaching since at least the 1970s, as competition for talent remains intense. Job advertisements remain 15% higher than a year ago, with the workforce wanting to increase by at least 1% from its current high level immediately, if there were people available. Yet the workforce is severely limited, with a 0.2% fall in the working age population over the year to March 2022.
rise, with sales volumes sharply lower, and house prices
Reserve Bank is lifting interest rates at pace, with the Official Cash Rate (OCR) rising to 2.0% in May 2022. The pathway ahead shows continued rate rises as the Bank plays catch-up and frontloads increases to limit demand. Housing activity has slowed markedly as interest rates falling over the last five months. There is a swiftly emerging risk of a recession, which now seems inevitable. Attempts to secure a “soft landing”, although admirable, are seldom successful. After frontloading considerable spending over the last two years to support the economy during COVID-19, there’s not a lot left in the tank for the next couple of years ahead.
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
Job advertisements remain 15% higher than a year ago, with the workforce wanting to increase by at least 1% from its current high level immediately, if there were people available
5
Recruitment Trends.
To attract and retain the best talent in the market, businesses must tailor their offering to suit employee expectations. This is true now, more than ever. So, what does the best talent expect from their employer? SALARY REMAINS KING FOR THE BEST TALENT. Recent research into candidate-drivers tell us that salary, work/life balance, career development and the organisation itself are the most important factors. Often when we’re speaking with candidates, they talk about culture, working from home and work/life balance as being their primary drivers, which align with this research. However, candidates are often reluctant to admit how important salary is. In this current market, financial gain is indeed an important factor - if not the most important. When people talk about non-financial considerations, they’re generally meaning ‘on-top’ of an increase in salary. It is our experience in these current market conditions that there is no willingness to look at a salary reduction, even if the other drivers are impressive.
6
ENTER MASLOW’S HIERARCHY OF NEEDS. The consistent message we are hearing from our candidates is how important a sense of belonging and sense of purpose is. Aside from salary, these are two of the most critical factors that lead to employee retention or attrition. Belonging and purpose is a fundamental human need, featuring in Abraham Maslow’s hierarchy of needs - which according to the American Psychologist, underpins all human motivation. It is related to connection, and in business can be linked directly to culture, leadership and community. Paradoxically, remote working adversely impacts connection and belonging - despite the option of working from home remaining a candidate expectation. For employers, fostering a workplace culture and creating a sense of belonging is challenging to replicate when much of your workforce is remote. We will watch with interest to see if candidates’ expectations will shift to either prioritise other drivers over culture and sense of belonging, or whether eventually the shine will come off remote working when sense of belonging suffers through lack of connection. Maslow’s hierarchy of needs can be applied to other areas of employee engagement. At a very basic level, your salary makes food and shelter possible – which is why it remains a primary motivating factor for most candidates. It can be an interesting and valuable exercise to analyse your offering as an employer against Maslow’s hierarchy to see how your attraction, engagement and retention strategies measure up against the basic drivers for human motivation.
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
Salary remains king for the best talent. 7
Debunking Market Myths.
There’s no doubt that COVID-19 has had farreaching impacts on every aspect of New Zealand’s economy. Our Labour market is no exception. We see sensational headlines every day, many with conflicting messages.
year on year, in February 2022 ad volumes were up 40% and applications down 46%. With more and more baby boomers set to exit the labour market, and with the border re-opening enabling talented New Zealanders to move off-shore, the candidate shortage is having a profound impact on recruitment. Employers are seeing a dramatic reduction in the number of applications to online advertising and are recognising the crucial importance of networks, databases and the search process in their hiring approach.
THE GREAT MIGRATION OR THE BRAIN DRAIN The reconnection of the globe is putting further pressure on our talent short market. We expect to see the recommencement of international movement hit New Zealand’s talent market in the second half of 2022.
‘Candidate Shortage,’ ‘The Great Resignation’, ‘Great Migration’ and ‘Brain Drain’. So, what is actually playing out in the market and what can you expect to see for the remainder of 2022?
New Zealanders could already be getting ready to leave the
Broadly speaking, it’s taking longer to hire because there are
Of course, the opening of the borders conversely means that
working age population) in New Zealand who have not been able to travel for two years. Infometrics forecasts 40,000 country. In addition to this many more will soon head overseas for OEs, or be lured to Australia by higher salaries. Will New Zealand be a successful ‘net importer’ of talent?
significantly fewer candidates to choose from and those who
overseas talent – both relocators and returnees, can now come
are receptive to a conversation are looking for more money than
to New Zealand. However, with the visa application process
ever before. Employers are having to shift their expectations, and
facing the biggest backlog in New Zealand history, the inflow of
retaining the best talent is becoming a top priority for businesses.
talent could be significantly slower than the outflow.
CANDIDATE SHORTAGE
8
There are 750,000 people in the 25-35 age bracket (20% of the
It’s also worth reflecting on our pull factors as a location. We need to work on ensuring we are offering better conditions than other countries / regions near us, like Australia and Asia. This
2021 was the year for the job hunter and this has not changed
means facilitating an easy pathway for senior professionals who
in 2022. During 2021 job listing numbers increased by 51%
may have families and their situations to consider.
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
At Government-level, we believe there are things that can be
operations and procurement and sales and marketing - the
implemented to slow the talent drain. Ease of visa application,
sentiment is still that employers will need to have a well defined
longevity of visas issued, ease of access to visas, incentives, time taken to convert to a permanent residency, the tax issues we face compared to Asia on our doorstep, cost of living, and rental access to name a few.
UPWARD PRESSURE ON SALARIES From retail, hospitality, farm workers and picker-packers, right through to the professional services market – everyone is calling out for workers. At Hunter Campbell, we are seeing a lot of businesses we work with attracting graduates with sign-on bonuses, offering a retention bonus for returning parental leave or long-service workers, providing incentives (even in non-sales roles) and offering significant pay rises above CPI. Pre-pandemic, people were moving for flat salaries or slight increases. Today, we’re regularly seeing 20-25% shifts in salaries for in-demand areas. The question is, how long can this go on? Such upward salary pressure will have a drawn-down effect at some point, as productivity outputs will have to rise along with the cost increases to business - and that’s not sustainable. We’re already an expensive country to do business in, and if you add in 20% increases in labour costs, large multinationals will start looking at the cost of hiring in New Zealand relative to other countries.
strategy around their EVP and an ability to meet or in fact exceed market rates to attract the best talent throughout 2022.
THE GREAT RESIGNATION The Great Resignation refers to a pandemic-driven market shift experienced in the USA and Europe which has seen a change in priorities and a drive to strike a more harmonious work/life balance. Though predicted to take hold in New Zealand, the actual impacts have been much less drastic. Recent reports state “the New Zealand workforce is generally satisfied with their work lives”. However, this needs to be tempered with this same workforce believing they have “solid job opportunities in the market”. You can infer from this that movement in the market is not driven from dissatisfaction in their current role, but the lure of greater opportunities available in the market. It’s not too different from a peak or trough in any economic cycle. We’re in a boom market because confidence returned with a huge spike after two difficult years globally. People came up for air looking for jobs after many lockdowns and market uncertainty. We’re seeing that as confidence has returned, people are prepared to look for jobs and the appetite for change has increased. There is a higher certainty they’ll find a job not
In turn, this will have a flow on effect on hiring processes in
only providing career advancement, but perhaps a significant
the wider sense, how much we manufacture vs. import, how
pay rise. This causes more elasticity in the market. This will
much flexibility a company can really offer while holding people
remain a factor until the borders open and visa protocols are
accountable for outcomes, and so on.
in place for new talent entering the market.
In the markets Hunter Campbell operate in; middle market to top
The Great Resignation won’t last, as the salary increases that
end qualified professionals in accounting & finance supply chain,
it brings are not sustainable long-term.
9
The New Zealand Labour Market Landscape. Effect of these factors on the Labour Market.
Employees seriously considering their current remuneration and using market pressures to maximize their employment.
Business Impacts.
Wages have risen by 7.6%. Minimum wage is now 74% of NZ’s median wage.
Business pressure to increase wages in an already stretched environment
02.
Continued wage growth as cost-of-living increases allow employees to apply pressure for market wide pay increases.
Business is optimistic that border openings will alleviate some of the strain. Visa applications processes risk this.
Employers prioritising retaining staff
01.
10
Big pay rises are concentrated to specialised roles in talent short markets where the balance of power sits with the employee.
03. Job advertising is less effective, networks and databases are crucial to finding talent.
04.
Govt. Initiatives
Unemployment Record low at 3.2%
Global ‘great resignation’ trends starting to impact the NZ market.
“In the current market employers are having to change their expectations and recruitment processes.”
Increase between 4.8% - 5.4%
Inflation
Supply Chain Disruptions
Visa Processing Delays
At a three decade high at 5.9%
Impacting consumer goods availability and costs.
Hampering immigration, backlog of resident applications is largest in NZ’s history.
Change in expectations. Less willing to travel to work, flexibility & WFH options are the norm.
Employers are using counter offers to try and retain staff. Multiple offers are common place in the market.
05.
Household Living Costs
Increase minimum wage, additional sick leave and stat holidays.
More roles than candidates – in 2021 job listing numbers increased by 51% vs. 2020.
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
Macro factors impacting the labour market.
Candidates are not moving for the same money, but for increases at a minimum of 5% but up to 50%.
Employers are having to incorporate WFH and flexible working into their proposition.
06. There are 750,000 people in the 20-30 age bracket who may be considering their OEs as borders open.
07.
08. Expect less applications and shortlisted candidates, processes need to move fast and best offers need to be put forward upfront. 11
Tapping into a global market. Hunter Campbell heads to the UK. Matching true talent with the right team and culture requires proactive agility. By responding quickly and seizing opportunities, we put you and your business ahead of the game. That’s why this year, Hunter Campbell will again be heading over to London to host a series of events to connect with the best and the brightest people looking to return, or relocate to New Zealand. We’re anticipating we’ll have face-to-face time with over 200 New Zealanders across ten-days.
12
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
In the UK, Hunter Campbell enjoys a solid reputation as the preferred New Zealand recruitment agency of choice. That’s evidenced in our unrivaled returnee-talent pool. On this trip, we’ll aim to further reinforce this reputation, ensuring the businesses we work with have access to true talent – whether they’re based at home, or abroad. Our partnership with CAANZ and INFINZ gives us access to a wide network and we look forward to hosting events in partnership with these respected industry bodies. Following our last recruitment drive in London, we supported over thirty candidates in their journeys to employment in New Zealand. When you’re connecting people with opportunities on the opposite side of the globe, good chemistry is vital. We combine specialist expertise, deep understanding, strong relationships and hands-on experience to make magic happen. The work we do is meaningful and rewarding.
Inspiring the future of business performance. Hunter Campbell are invested in the future of the Accounting and Finance sector, facilitating two programmes focussed on developing Accounting and Finance talent.
FUTURE CFO
FUTURE FINANCE LEADERS
The Future CFO programme provides mentoring, networking and development to participants who are CA or CPA qualified with a minimum of two years commercial experience. The programme aims to support participants to further develop their expertise, contribute at a strategic level, and enable organisational succession.
The Future Finance Leaders programme is specifically designed with CA/CPA Qualified accountants who have up to 7 years PQE in mind. It provides mentoring, networking, and development to participants with the aim of supporting them to develop their skills, leadership credentials, and enable organisational succession.
If you, or one of your team would like to take part in a programme please email leem@huntercampbell.co.nz for details.
13
A word from Managing Partner Lee Marshall “I am exceedingly grateful to our exceptional team for their hard graft, and the lasting relationships we’ve built.” 14
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
The blend of unique market conditions throughout 2021/2022 produced one of the most challenging recruitment markets that I have seen in my career. Unemployment is at an all-time low
We consult and collaborate with our clients. We work
and moving lower, long term border
tirelessly to understand their business, and by sharing
closures are adversely impacting the candidate market, and the ongoing
our expertise we’re able to provide valuable insight and advice around attracting the best talent through tailored benefit and pay packages, professional
effects of the pandemic are impacting
development and flexible working initiatives.
how, when and where we can operate.
It’s my opinion that challenging market conditions will
Despite this, Hunter Campbell thrives.
persist for the next 12 months. We begin the new year
It has been the biggest year in our history. We’ve rebranded, moved to stunning new offices, partnered with more incredible businesses and placed more candidates than ever before. In the face of challenging market conditions, we’ve worked harder than ever before. We’ve not wavered from our mission to create good chemistry by matching the best talent with the right teams, and we’ve done this through innovation, agility and collaboration.
stronger, even more energized and delighted to be welcoming a Specialist Sales and Marketing Division to our offering.
“At Hunter Campbell, the future is bright.” Whether you’re reading this as a business looking to connect with the best talent, or a leader looking
From nurturing emerging talent through our Future
for your next opportunity - we’re honoured that you
CFO programme, to our investment in London events
choose to be a part of our journey.
which has created an un-rivalled pipeline of relocators and returnee talent – we strive to deliver excellence to
Lee Marshall
match the demand in the market.
Managing Partner
15
Accounting and Finance emerging trends. FIRST MOVERS MARKET
THE RISE OF THE SME CFO
Accounting and Finance has been one of the hardest hit sectors of the pandemic-driven talent shortage in New Zealand.
Small to medium-sized businesses are the backbone of New Zealand’s post-pandemic economy. These organisations are high-growth, often export focused, private equity-backed and in their post-capital raise phase. And, taking control of their finances, is a new breed of CFO.
The number of Chartered Accountants has hit critical levels and a number of large Chartered Accountancy firms are taking extreme measures to attract and retain top talent. From retention bonuses and salary increases outside of regular reviews, to approving long periods of leave and sabbaticals. Corporates are also working hard to stay competitive in this market. Pay increases, promotions, professional development and additional leave are all on the table. For first movers who would normally become qualified and head overseas, the border closures have meant a change in approach. Instead of leaving, they were able to demand higher salaries from their employer who had no other option but to agree because of the lack of global talent. This has created a false, and unsustainable economy with the dramatic upward pressure on salaries. There has been a leap in demand of Chartered Accounts globally, and now with the option of travel back on the cards as the borders begin to open, we will see a wave of Chartered Accountants head overseas to take up attractive global positions. This will put further pressure on the market here – both in terms of talent shortage, and salaries.
16
Often a candidate’s first introduction to CFO level, these roles are sometimes called a General Manager Finance, Finance Director or Head of Finance. Their mandate is for growth, and the challenges and opportunities in these roles are interesting and diverse. Where the role significantly differs from a traditional CFO role with a larger company is the hand’s-on exposure to operational and commercial aspects of the business. These roles are about far more than the numbers. It’s a holistic finance role where good chemistry with the CEO, and well-developed soft skills are a must – a SME CFO needs to be able to take a business on a journey. The experience and skills gained in these roles cannot be under-estimated. Not only are we seeing SME CFOs well-positioned for tier-one CFO opportunities, but career paths leading to CEO positions are clearly being forged.
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
Accounting and Finance has been one of the hardest hit sectors of the pandemic-driven talent shortage in New Zealand. 17
In-demand roles and salaries.
Accounts Payable
Accounts Receivable
SALARY GUIDE / TRENDS
Assistant Accountant
Payroll
SALARY GUIDE / TRENDS
SALARY GUIDE / TRENDS
SALARY GUIDE / TRENDS
AP Administrator
$52,000 – $60,000
AR Administrator/Clerk
$60,000
Payroll Administrator
$60,000 – $65,000
Graduate Accountant
$50,000 – $55,000
Senior AP
$60,000 – $65,000
AR Officer
$65,000
Payroll Officer (sole charge)
$70,000 – $80,000
Junior Assistant Accountant
$55,000 – $65,000
AP Manager
$65,000 – $100,000
Credit Control
$55,000 – $80,000
Senior Payroll
$80,000 – $100,000
Assistant Accountant
$65,000 – $75,000
AR Manager
$75,000 – $110,000
Payroll Manager
$100,000 – $140,000
Historically, businesses have looked for Accounts Payable candidates to have a skill set that includes high attention
The market currently has a low supply of immediately available Assistant Accountant contractors and a medium
More of our clients are starting to use
Technology is significantly impact-
automation software – this Accounts
ing the way forward in the Payroll
Receivable (A/R) automation software
space. Spreadsheets are on the out
modernizes the accounts receivable
and we expect to see manual payroll
processes with the help of Artificial
become a thing of the past within a
Intelligence (AI) and Robotic Process
few years. Upgrades to cloud-based
Automation (RPA) to reduce repetitive
payroll systems are in play all over the
and time-consuming tasks. As we
market, the key benefit to this is it al-
move into the future and technology
lows employees to directly input data
With the current skill shortage and rise
becomes more sophisticated, skills
We are increasingly seeing ‘flexibility’
which payroll staff can then work with,
in salaries, companies are looking more
around attention to detail and data
as a priority for candidates in this
resulting in less queries and better
into hiring graduates with a degree
entry speeds will be less imperative in
space, with candidates negotiating
cyber security. The introduction of AI
in accounting. The benefits for the
comparison with being able to work
and requesting ‘flexibility’, such as
will likely simplify tasks further, saving
employer are a lower salary and the
with systems.
time and budgets and therefore,
ability to develop them to grow in the
resulting in a reduction in the need for
business, resulting in filing harder to fill
payroll staff.
senior roles.
to detail and fast data entry speed with accuracy. As technology continues to evolve in this area, we have seen a large shift in mindset to adapt required skills to these new technologies. We are seeing a continuation of sophisticated scanning systems now being implemented into businesses, which has resulted in increased productivity and efficiency.
work from home days, even before looking at the salary/hourly rate offered for the position.
Candidates in this area are looking for the flexibility to work from home. A good proportion of our clients are
Currently, Hunter Campbell is seeing
embedding this into their policies and
a moderate to high demand for payroll
appreciate it is appealing to prospec-
professionals with a low supply. Senior
tive employees.
payrollers tend to move into systems/ project-based roles as the pay is more lucrative, which is having an effect on salaries as candidates are looking for a minimum pay rise of $10,000 to move. Financial wellbeing is to be integrated more closely with payroll which will see Payroll and HR playing a more strongly aligned role.
18
supply of permanent AA’s. The best talent are passive candidates who are permanently employed, those who are applying are looking to move into a role where they are supported with CAANZ as well as after more money/more exposure.
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
Financial & Management Finance Accounting Manager SALARY GUIDE / TRENDS Management Accountant
Commercial Manager
SALARY GUIDE / TRENDS
Financial Controller
SALARY GUIDE / TRENDS
SALARY GUIDE / TRENDS
Junior
$90,000
Junior
$120,000 – $135,000
Junior
$120,000 – $140,000
Junior
$120,000 – $140,000
Intermediate
$90,000 – $100,000
Intermediate
$135,000 – $150,000
Intermediate
$140,000 – $160,000
Intermediate
$140,000 – $160,000
Senior
$100,000 – $120,000
Senior
$150,000 – $165,000
Senior
$160,000 – $200,000
Senior
$160,000 – $200,000
SALARY GUIDE / TRENDS Financial Accountant Junior
Intermediate
Senior
$80,000
$90,000 – $100,000 $100,000 – $120,000
Throughout 2014-2020, there was an even split of commercial focused and financial roles. Come 2021, the market had doubled in its need for Financial Accountants. Due to the impacts of Covid, there was a significant drive for technical accountants and less of an appetite for commercial candidates, with a number of redundancies happening within this space too. From 2020-2021, we noticed an increase of around 60% for new technical roles in comparison to the previous 6-7 years.
Being an essential service for a finance
In the past 12 months we have seen
team, Covid impacts have only been
Commercial Manager roles emerge
positive with the demand for Finance
within a wider variety of industries. Some
Managers. Over the last couple of years,
notable ones being; FMCG, Healthcare,
Hunter Campbell has seen twice as
Supply Chain, Manufacturing, Retail.
many Finance Manager/Financial Re-
Businesses of all sizes have been
porting Manager hires than Commercial/
recruiting these roles, in SME’s there
FP&A hires. We expect these numbers to
tends to be one Commercial Manager/
remain relatively high for these hires as
Commercial Finance Manager who looks
people often need to move businesses
across the whole business. In larger cor-
to gain the next step as the opportunity
porates there tends to be multiple CFM’s
for internal progression gets slimmer the
looking after specific business units or
higher you get up the Finance team.
areas of a business.
more commercial accounting roles come
performance, and future growth potential. Businesses are now more confident although there was a slight drop in these
be more common again this year.
in turn have been dictating a more even split of MA/FA in their roles.
Intermediate
$140,000 – $160,000
Senior
$160,000 – $200,000
in succeeding and less risk-averse, so
some early signs in 2022 that they will
has been a market led by candidates. They
$120,000 – $140,000
es craving insight and foresight into their
pandemic, the market is returning to a
to the borders being shut for two years, it
Junior
back to market. This is due to business-
we are (hopefully) nearing the end of the
commercial roles. In addition, with
SALARY GUIDE / TRENDS
Covid, we are now seeing more and
Now the market confidence is back and
New Zealand being a skill short market due
FP&A Manager
After the decline of these roles through
roles from 2020 to 2021 we have seen
fairly equal split between financial and
Covid has had a positive impact on Financial Controller roles as they are an essential service for any Finance team. Demand for true Group Financial Controllers is high as the majority of CAs will often step into the commercial side of the business before reaching this level. Availability of roles is relatively low given businesses would only have one Group Financial Controller.
Following Covid we saw a significant push for more technical accounting roles, with FP&A and Commercial roles declining. However, this trend is changing and we are currently seeing more and more commercial accounting roles come back to market. This change in market drivers is likely due to businesses craving insight into their performance, and future growth potential. These types of roles are expected to become increasingly popular/more prominent, as they are in larger markets like the UK, US & Australia, over the near future.
19
Thanks from us to you.
At Hunter Campbell we’re inspired by what we do. We’re energised and empowered by the connections we make, and the lives we impact. 20
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
While this market insights document contains its fair
consultation, expert advice and valuable
share of figures, statistics and forecasts, it is people
insight to help you and your business navigate
who form the heart of our business - our clients, our
these complexities.
candidates, and our outstanding team of specialists.
We thank you for choosing Hunter Campbell
We all face an uncertain year ahead. A stretched
as your specialist search and recruitment partner.
labour market, high inflation and continued disruption
Our team are here to help, and we welcome you
to the global supply chain will make for challenging
to pick up the phone for a chat, whether about the
conditions. Hunter Campbell is steadfast in our
current market, specific recruitment needs or defining
commitment to work with you to deliver best practice
a team structure. Together we are stronger. 21
Lee Marshall
Managing Partner
Jason Hinton Manager, Contract
Daniel Turner
Manager, Financial Services
leem@huntercampbell.co.nz
jasonh@huntercampbell.co.nz
danielt@huntercampbell.co.nz
021 774 388
027 555 0921
021 193 0369
Chris Cooper
Regina Manaf
Katie Kelly
chrisc@huntercampbell.co.nz
reginam@huntercampbell.co.nz
katiek@huntercampbell.co.nz
021 197 4491
021 220 8786
021 418 585
Manager, Accounting Permanent
Consultant, Accounting Support
Consultant, Accounting Support
We are the drivers of good chemistry, your specialist Accounting and Finance Search and Recruitment Partners. 22
2022 MARKET INSIGHTS | ACCOUNTING AND FINANCE
Sam Pritchard
Kieran Leese
Luke Spratt
samp@huntercampbell.co.nz
kieranl@huntercampbell.co.nz
lukes@huntercampbell.co.nz
021 224 7093
021 228 6634
021 225 5056
Dan Barker
Josie Clarke
Morgan Schuler
Senior Consultant, Accounting and Finance
Associate Consultant, Accounting and Finance
Consultant, Financial Services
Consultant, Accounting and Finance
Senior Consultant, Contract Accounting and Finance
Associate Consultant, Accounting and Finance
danb@huntercampbell.co.nz
josiec@huntercampbell.co.nz
morgans@huntercampbell.co.nz
021 590 494
027 773 4733
027 579 2286
We are Hunter Campbell. 23
Specialist search and recruitment partners. 24
Specialist Recruitment
huntercampbell.co.nz
