Q2 2021: Finance Market Update in Switzerland

By EMEA Recruitment
28 April, 2021
Q2 2021: Finance Market Update in Switzerland

Ahead of Q2 2021, we provide an update on the Finance market in Switzerland…

The first quarter of 2021 offered some promising signs of recovery within the Finance market in Switzerland, notably through the volume of opportunities available, but also evidence of higher levels of confidence amongst senior leaders.

During the second half of 2020, the word missing from recruitment conversations was “plans”, as the overriding feature was a short-term mentality, due so much uncertainty regarding COVID-19.

The positive news about vaccine efficacy, despite short-term concerns about the speed of the vaccination programme, is instilling hope of a more normal life this year and, therefore, greater focus on business plans and development. This is likely to result in an increase in opportunities within the Finance market, as projects start/recommence and recruitment freezes are removed.

Despite the expectation of easier recruitment in a market that has experienced major change and an economic downturn, the reality is that many companies that have advertised vacancies have failed to recruit and have had to re-advertise their roles. There are numerous reasons, but some of the feedback we have gained from clients and candidates includes:

  • High volume of applications is putting pressure on Talent/HR teams
  • Negative employer brand experience is a consequence of the lack of feedback
  • Individuals in permanent roles are still cautious about moving jobs, but are starting to slowly return to the market
  • Applications to direct advertisements are often not relevant/less targeted than previously
  • The lack of salary information on advertisements, when combined with significant variation in salaries with similar job titles, is making targeted applications difficult

As we move towards a more normal employment market, it is likely that we will see a battle for talent, as the number of opportunities increase, which may result in pressure on salaries and growth in the number of employers providing counter offers to retain their valued employees.

To discuss any recruitment issues you may be having, get in touch and we will look to help you in any way we can – our Director of Finance in Switzerland, John Bower, is available at: [email protected] 

More insights

Q4 2023 HR Recruitment Market Update

Q4 2023 HR Recruitment Market Update

As we head into the final quarter of the year, Katie Insley, Associate Director, sheds light on the HR recruitment market and its future...

HR conversations continue to focus on the future of the function, how HR technology will shape this from a service and process perspective, and how artificial intelligence will be further adopted and integrated. 

Advancements in HR technology and AI have the potential to make many of the tasks undertaken by people today redundant but, at the same time, have the potential to create new roles more suited to a data-driven and digital world. 

Over the last quarter, we’ve continued to see an increase in roles around HRIS Optimisation, HR Data Consultancy, People Analytics and Talent Analytics, all which require a technical mindset, a customer focus, and the ability to engage with stakeholders and be a great storyteller.

The continuing evolution of HR technology can however create a level of anxiety in the workforce and businesses need to take action. It is important for organisations to understand how these changes may impact the current workforce and their levels of engagement. Employees may be concerned about the security of their role but, if a company starts to act now, the changes can be seen as an opportunity, as opposed to a concern.

If a business is able to identify how HR technology and AI will change the roles and talent required in their organisation, they will have enough time to understand the skills gaps. They’ll be able to put measures in place to retrain the current workforce, therefore retaining employees, increasing employee loyalty and engagement, creating more effective succession plans, and ensuring the business has the skills needed to be successful in the ever-evolving modern world.

Many of our Executive Interviews explore this topic, as it’s clearly on the minds of HR leaders. It was also a topic of conversation at our recent CHRO dinner. This was such a great opportunity to bring together a group of HR executives to discuss pertinent issues in the HR space, sharing experiences and challenges. If you’re interested in being involved in future HR leadership events, do reach out: [email protected] 

Read more >
The Key to Success in Today's Recruitment Market

The Key to Success in Today's Recruitment Market

Thomas Powell, Recruitment Consultant, takes a look at the Finance and Accountancy recruitment market in the Netherlands and shares the key to success...

In today’s recruitment market, demand for talent is heavily restricted and continues to be candidate driven across the junior to senior level.  

To be at the top of the competition, it is crucial for you, as the hiring manager, to offer the candidate the right opportunity with clear plans of progression - not a sidestep where they are doing the same role for more reward.

We are noticing that the biggest motivation to move in today’s market falls to the following:

  • Lack of responsibility in their current role - in turn, looking to move to take on more responsibility and have each day be a new challenge where they learn and add value to a company
  • Looking for progression, wanting the step up - candidates in the mid to senior market are constantly looking for the step up in their career and will rarely make the sidestep for additional compensation

How can you do this when recruiting into your team?

First, what profile are you looking for? If you have a strong desire for a particular level of experience in local reporting, you know this is non-negotiable for your business.

However, think about why someone who does this role already would move to your company to do the same role. Think of ways this person can progress and move up in the company.

To retain the best talent in your company, this is what you need to be outlining. This is where you sell yourself to the candidate.

As recruiters, we hear, “This role will have progression opportunities” all the time. Be direct about what progression opportunities are available and ask the question of why the candidate should move.

Secondly, identify a success story. If you have a profile that may fall slightly below the criteria - maybe they don’t hold enough Dutch GAAP or don’t have enough payroll processing experience - offer the training and development to the candidate.

While this can take time, look at how attractive your role becomes and look at the success story you can create in your company. You as the manager have achieved this and, in turn, this profile is likely to stay with your business in the long term, given the time and value you have invested in them.

This is where EMEA Recruitment can add value. We are a candidate-driven business and skilled in mapping the candidate’s motivation to the right business, where they will add value to your organisation and thrive.

If you’d like to speak to me about how we can assist you in your search for talent, please get in touch with me at [email protected]

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Q2 2023: Procurement & Supply Chain Recruitment Market Update - Switzerland

Q2 2023: Procurement & Supply Chain Recruitment Market Update - Switzerland

As we continue into 2023, Neil Cope, Manager of Procurement & Supply Chain, shares an insight into the Procurement & Supply Chain recruitment market in Switzerland...

We continue to see a buoyant jobs market in Switzerland, particularly within the Procurement, Supply Chain and Operations space. Competition therefore remains high; candidates have heightened leverage and, thus, it is more important than ever for businesses to offer competitive packages in 2023.

This is highlighted in the ongoing upward trend of not only higher salary demands, but also a strong focus on other Employee Value Proposition factors – such as substantial home office options, company/corporate culture and value considerations (such as Diversity, Equity & Inclusion), career progression opportunities and other benefits outside of the base salary (gym memberships, half fare travel cards, lunch vouchers, etc.).

Our Consultants are also reporting a further push on what may be described as the ‘squeezed middle’ – a combination of mid-management level positions or roles where a strategic and leadership element is at the forefront, but often is combined with a desire for candidates with an operational background and hands-on practical experience. This sector of the market is running exceptionally hot, and is expected to drive growth and job flow throughout 2023.

If you are hiring and facing challenges on talent attraction in line with the above, or are open to new opportunities yourself and wish to talk through the market, please reach out to me at [email protected]

Events & Networking

We continue to see the popularity of both in-person and virtual networking events. Our network is continually feeding back a desire to attend these events and there is a general consensus that they are critical for success in today's competitive work environment.

Networking can help you expand your knowledge, opportunities and relationships, and enhance your fields of understanding.

22nd June - Save the date!

EMEA Recruitment has a joint event with CSCMP Switzerland Roundtable on 22nd June, where we will be helping explore the topic of Supply Chain skills and people. EMEA will be among the professional presenters at this event to give a market overview of Supply Chain skills, demands and trends across Switzerland.

Please get in touch with me ([email protected]) and let know if there any areas you would like us to explore specifically.

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Q2 2023: Finance Recruitment Market Update - Switzerland

Q2 2023: Finance Recruitment Market Update - Switzerland

As we concluded 2022, we experienced normal market conditions across Switzerland. And, as predicted, an extremely high volume of hiring started from January onwards. 

At EMEA Recruitment, we analyse market data so that we can understand trends and skills shortages to provide factual evidence to our candidates and clients. Some of this data - and feedback from companies that were recruiting during Q1 - has been used to produce the following overview:

German-speaking region

  • Over 100% increase in directly advertised Finance roles during January to March 2023 compared to the same period of 2022
  • Many roles seen in January were re-advertised in March, as they failed to attract the desired audience
  • Companies requiring fluent German language skills experienced the greatest difficulties in hiring
  • Significant increase in roles advertised by Swiss-owned international companies compared to those with non-Swiss ownership

French-speaking region

  • Similar volume of vacancies during January to March 2023 as we saw in the same period of 2022
  • Slight reduction in roles advertised by Swiss-owned international companies, but a corresponding increase in roles advertised by non-Swiss-owned international companies

Hybrid thoughts

  • Requiring 4-5 days’ attendance in the office does impact the diversity of candidates attracted to the role
  • We have seen very little evidence of fully remote roles being offered

Job-seeking process

  • Candidates are happy to look at attractive opportunities, but those in work are being selective about the roles they consider and are less likely to apply directly to advertisements given the limited amount of information available through that method
  • Given the high volume of roles available and the difficulties companies expect when replacing staff, top talent is being recognised more and more by their current employers - therefore, they are more selective about the roles that they would consider externally

What do we expect in Q2?

Business sentiment is still positive, so we expect to see a very busy quarter again for Finance recruitment. We also predict continued pressure on salaries as the battle for talent remains fierce.

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

If you would like to discuss your own career situation or hiring into your team, we would be happy to speak with you. Please reach out to Mark Robinson, Insight & Optimisation Director, for a confidential discussion: [email protected]

Read more >
Q1 2023: PSC Recruitment Market Update - Netherlands

Q1 2023: PSC Recruitment Market Update - Netherlands

2022 has undoubtedly been a time of reflection and change, and quarter 4 continued this trend.

We saw the increased demand for Logistics specialists within Procurement & Supply Chain and the emergence of new standalone categories in energy/utilities.

The current crisis in Ukraine - and the ongoing geopolitical influence across Europe - is having far-reaching effects.

Supply Chain has had a relatively smooth ride since its adoption in the late 70s with the introduction of Just in Time (JIT) methodology, created by Taiichi Ohno for the automotive industry (Toyota).

However, are we seeing the end of it? Logistics is a critical player in the success of the JIT process. Unfortunately, due to the rising cost of fuel and the lack of available drivers across Europe, it may not be sustainable.

What is the alternative?

Digitalisation is the apparent solution. However, are organisations willing to spend the money on implantation and development? This will not be a quick fix; another obvious answer may be Just in Case, which is very much the opposite of JIT.

Unless you have a crystal ball, we need to embrace multiple solutions, and digitalisation must be part of this discussion. Data is crucial in an ever-changing world, and systems must be more robust and versatile to external effects.

Change in the market

From a recruitment perspective, we have continued to see an evolving market again, driven by geopolitical influence and the rising cost of living.

Change is positive. It creates both opportunities and growth. EMEA Recruitment has adapted to these changes by continuing to listen and learn. Q4 saw the expectations of candidates change drastically, from wanting work-life balance in August (EMEA poll of 120 candidates) to salary negotiations in October. Now, the overriding message is job security.

From the aftermath of the Christmas rush - particularly within the FMCG sector - we will continue to gain valuable insight into the market. Organisations certainly recognise the vital role Procurement & Supply Chain plays in the overall success of a business and is no longer just a cost centre.

EMEA Recruitment are keen to support candidates and organisations in their ongoing development and transformation. For further infomation on how we can support you, please contact, Richard Bailey. We wish everyone good fortune for 2023 and look forward to what the year has to offer.

Read more >
Q1 2023: Finance Recruitment Market Update - Switzerland

Q1 2023: Finance Recruitment Market Update - Switzerland

As we enter the New Year, Mark Robinson, Associate Director in our Finance & Accountancy team, shares an insight into the Swiss Finance recruitment market...

First of all, Happy New Year to everyone. We hope that 2023 brings you good health, happiness and success.

The New Year begins with far greater confidence than in 2022, due to the control achieved over COVID-19 and, despite some current market challenges, the economy in Switzerland remains positive, particularly compared to European neighbours.

Inflation is expected to reduce to 2.4% (source: Swiss National Bank) and the country will continue to achieve growth in 2023.

Finance recruitment market

There is traditionally a lull in recruitment in December before an increase in activity in January. This means that companies find recruitment difficult in January, due to the higher level of competition.

However, in 2022, the market was busy all the way up to the festive season, with many companies continuing try to attract talent in a typically quiet period.

We undertook significant research in the last quarter of 2022 about the methods that mid to senior level candidates use when job seeking. This confirmed that professionals find direct job applications an increasingly inefficient and impersonal way to secure their next career move.

We heard strong preference for securing a new role through a recruitment consultancy or through a known network, which partly explains why so many companies are struggling to attract the talent they desire through simple advertisements.

The competition for quality candidates remains strong, with companies struggling to attract interest from the passive market. This is where EMEA Recruitment provides the most value, being able to use our network and market knowledge to ensure that the best - and most suited - talent in the market is made aware of opportunities that fit their career goals, even when those individuals are not actively engaging with the recruitment market.

Market shortage/pressure point

In 2022, one area where we started to see increased recruitment activity at large companies was in Environmental, Social and Governance (ESG), as the new reporting regulations came into effect.

As a new field of reporting, there are very few candidates who already possess this experience, so those individuals are likely to have a wide range of opportunities to choose from in 2023.

Is ESG an active area of recruitment or interest for you? If so, please get in touch. We would be happy to provide further information and share thoughts from the wider market about this subject.

Hybrid working – follow-up to Q4 2022

In our last newsletter, we discussed how hybrid working has brought many positives to the workplace, but has also resulted in some challenges for both employers and employees.

We have seen some pushback against working from home in the USA, most notably at Tesla and Twitter, but also some other companies in the tech sector. However, the vast majority of businesses are still very much on board with developing their strategies to make hybrid working as effective as possible.

We recently ran a LinkedIn poll to ascertain our network’s latest thoughts about hybrid working, as shown below:

What do you think are the biggest challenges associated with hybrid working?

  • 60% - Maintaining company culture
  • 26% - Onboarding is more difficult
  • 11% - Ensuring consistent policy
  • 3% - Identifying top talent

Will the challenge of maintaining company culture lead to changes to career development for candidates in the future?

Instead of staying with a company and progressing, these results suggest people are likely to move more regularly, as they are less engaged with their employer.

Those with a significant length of service at one company and a number of promotions on their CV/resume are typically the most desired candidates in the market. If individuals are less engaged with their employer, we are likely to see shorter tenures at companies in the future, so the most desired CV could look very different.

Summary

We are all used to a marketplace that changes quickly and can be affected by a range of global factors, but that does not make recruitment any easier. Switzerland is in a much stronger position than many of its neighbours, so we expect to see another exciting year of recruitment and new opportunities coming to the market.

If you would like to discuss your own career or are recruiting into your team, we would be happy to speak with you. Please contact Mark Robinson: [email protected]

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