What do international employers look for in Millennial Accountants?

Our Managing Director, Abigail Stevens, has just returned from a business trip spanning across the globe, finding out what some of the biggest international employers are looking for in Millennial accountants.  

With so many studies carried out on Millennials in the workplace it becomes easy to get lost in the information and miss out on a crucial point- what their bosses want! KPMG’s recent survey of business students in 23 countries revealed that 80% anticipated working  in 3-6 countries during their career. As Managing Director of an international recruitment agency, I thought I’d assist this generation of expectant travelers by sharing my knowledge of the key issues that stand out for international employers.

 

I have just got back from a 7 week business trip that has spanned across three continents with meetings in London, Dubai, Australia, New Zealand and Hong Kong. In each of these destinations I’ve been able to discuss the international job market with some of the biggest global accountancy, financial services and industry and commerce organisations. A number of those I met were accountants that we have assisted over the years who have now become Partners, Senior Management and Directors in their organisations, their stories feature regularly on this blog. 

So what were the key features that stood out for international employers looking at the millennial job market?

 

They don’t just want number crunchers

They want applicants that look for solutions and that are able to see beyond numbers to work out how to address the potential risks and increase the commercial opportunities.

 

Desirable experience

 

 In addition to external audit, data analytics and cyber security experience are becoming quite valuable. Experience in forensic accounting, risk, IT audit and internal audit are also popular with employers.

 

The ability to build rapport

The accounting industry is becoming more and more service driven, the ability to build rapport with clients is now seen as an essential skill. This is also reflected in internal accounting roles where interaction with other areas of the business is important.

 

Chartered Accountant Qualifications

Qualifications from one of the reciprocal Chartered Accountancy bodies in Scotland, Ireland, South Africa, Canada, England & Wales or Australia & New Zealand remain the most highly sought after.

             Current state of the Global Market

London

The market has become quite saturated with accountants with fiercely increased competition.

Australia & New Zealand

Markets in Australia and New Zealand are starting to open up again after being hit late on by the global recession. Firms are still unsurprisingly cautious, but there was a lot of positive signs and there are big improvements expected this year.

Hong Kong

Hong Kong is seeking more accountants with a technical background or Mandarin speakers due to its close ties with China. 

Dubai

Dubai currently has a real push on hiring European accountants to diversify their workforce. 

So what to do with this information?

It would be wise to find out what your options are and explore the current international opportunities available to you. It’s only then that you can make an informed choice on your future. Our services are free for accountants to use and enable you to get ahead of the curve by kick-starting your international career.

Abigail Stevens has been in the recruitment industry for twenty years. She founded Think Global Recruitment sixteen years ago which has since become one of the longest running international accountancy recruitment companies.

To find out more information phone: +44 (0) 131 260 5850 or email mail@thinkgr.com

 

 

Great increase in demand for global accountants! - says specialist recruitment director

 

Think Global Recruitment’s Managing Director, Abigail Stevens, has successfully assisted accountants to secure international careers for 20 years.  Having set up Think Global Recruitment almost 16 years ago, she analyses the current state of the global job market.

Movement in any job market, but especially the accountancy sector, is always a good gauge on how the economy is doing.  The great news is that we have definitely seen a large increase in the need to hire in 2015, not quite to the extent of pre worldwide recession 2007, but certainly the best we have seen since then. As 2016 gets underway, it’s worth noticing just how international professional accountants are this year. We have witnessed unprecedented numbers of candidates enter the UK from a wide-range of countries across the world. 

What’s happening in the UK Job Market?
 

"They have realised there are just not enough recently qualified accountants and junior managers"

As firms come out of the recession feeling stronger and ready for growth, they have realised there are just not enough recently qualified accountants and junior managers available on the local market to support the increased demand on the sector.  In the last few months we have assisted the Top 6 CA firms to hire accountants from Ireland, South Africa, Zimbabwe, Ghana, Latvia, Czech Republic, Canada, Cyprus, Tanzania, Ukrainian, Romania, Lithuania, Brazil, Argentina, Mauritius, the Philippines and Malaysia over the last year.

Think Global Recruitment has assisted firms in the UK to fill around 200 vacancies in the last 12 months with professionally qualified accountants from locations as far away as The Philippines and as close to home as Ireland.  These accountants have filled a much needed skills gap and enabled our clients to prosper.  The UK market has certainly kept us busy for the last couple of years.

 

 

The table above shows a broad-based rise in demand in the UK for permanent staff in December, accountancy & finance jobs are rated third. (Source: Markit report)

 

What about outside the UK?
 

Well there has certainly been movement there.  We have assisted accountants from Britain and other countries across the globe to secure permanent jobs in locations such as Australia, New Zealand, Bermuda, The Caribbean, Germany, France, Switzerland, Asia and the Middle East.  It certainly feels like the world has opened up again to accountants seeking global experience.

There are however, still some locations that have not opened up again, post-recession, to bringing accountants in yet.   America, whilst being one of the highest on people’s lists, still remains the hardest to get into.   There has been a huge decrease in the number of visas available for skilled migrants and its lottery type system leads to very low odds and difficult terms in getting one. Canada has also increased its restrictions on entry making the process more complicated. Australia, New Zealand and Middle East have been recruiting, but the numbers are lower in comparison with the pre-recession years.

Future predictions? 
 

"There will be a worldwide shortage of qualified accountants for the next two or three years"
 

Well if the 2000/2001 dip in the economy is anything to learn from, there will be a worldwide shortage of qualified accountants for the next two or three years.  This will result in a considerable increase in movement in this sector across all the global hotspots. So if you're an international accountant you won't be out of work anytime soon!