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- Balance Quarterly Market Update
- Quarterly Market Update -Q3 Welcome to our latest Legal Accounts Quarterly Market Update, covering July to September 2016. The Q3 period is a hard one in which to measure market confidence in the recruitment calendar. The holiday season inevitably has a strong influence on a firm’s willingness to begin a hiring process and certainly on its ability to efficiently coordinate a timely schedule of interviews. This year however, there has been uncertainty surrounding Brexit, so just what impact has this had so far on hiring within the Legal Accounts niche? It’s hard to be too certain on what the causal factors were, and scheduling interviews during the holiday inevitably means delays, but there was a clear slowdown in decision making around hiring across the legal sector. In some cases, hiring processes would nearly grind to a halt altogether before eventually a decision was made. Whilst we do not wish to talk up the impact Brexit has had on the market, it would be foolish to deny it has led to nervousness at certain firms.There has certainly been no panicking though - year on year demand for staff over the Q3 period remained almost exactly the same as in 2015, with only 1 less instruction received by our Legal Accounts division this year. There have also been many examples of headcount increases and introduction of newly created positions at firms both large and small, an encouraging sign of confidence. The legal sector has also proven to be very resilient through recent challenging periods in the economy, with law firms making significant progress during the last 5 years in becoming leaner, more efficiently managed and commercially driven businesses. Areas in highest demand: Financial ControllersFinance ManagersRevenue ControllersPricing AnalystsLegal BillerseBilling Analysts Areas in short supply:Financial/Group AccountantsFinance Systems AnalystsPartnership AccountantsPricing Analysts Year on Year comparison in number of vacancy instructions received during Q3 period: - / - Key highlights from the APSCo produced ‘Professional Recruitment Trends’ survey (September 2016): Demand for permanent finance staff (all industries) across the UK showed growth of 5% year on yearPermanent placements of finance staff across the UK showed the first negative in two years at -0.8%Temporary placements of finance staff across the UK grew by 4.4% Successful appointments we have made during the Q3 period include:Financial ControllerFinance ManagerFinance Systems ManagerSenior Revenue ControllerFinancial AnalystRevenue ControllerBilling & Collections SpecialistBilling SpecialistE-Billing CoordinatorSenior Credit ControllerFinance Coordinator+ many more “It’s proven to be difficult to pin down any tangible hiring trends in the legal accounts and finance systems market over the last few months, with the instructions we’ve had through covering a good mix of permanent and interim assignments and for ...
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