The commercial finance and accountancy sector is facing a deepening talent problem that could threaten growth and long-term business resilience unless employers rethink their recruitment and retention strategies, says an industry specialist.
The warning has come from Joanna Pennell, divisional manager at Worcestershire-based Pineapple Recruitment, who says businesses are struggling to cope with skills shortages, workforce burnout, and changing candidate expectations.
Her concerns are backed by a recent study of sector CEOs, which found that up to 78% are reporting a critical talent shortage.
Joanna Pennell said: “There’s no doubt that commercial finance and accountancy remain highly attractive career paths, but the way businesses attract, develop and retain talent must evolve. Employers can no longer rely on traditional recruitment methods if they want to secure the skilled professionals.
“Many employers in the sector are seeing ongoing difficulties recruiting qualified and tech-savvy finance professionals, while accountancy firms face capacity constraints. At the same time, younger professionals are increasingly drawn towards technology-focused careers that offer competitive salaries, flexible working arrangements and clear progression opportunities.”
Mrs Pennell, an experienced financial sector recruiter, said that employers are now competing on two fronts: recruiting experienced professionals with strong technology and data capabilities, while also attracting entry-level talent into a profession that is being transformed by automation and artificial intelligence.
She added: “To address these challenges, finance teams and accountancy firms must totally rethink their strategies. Firstly, deploying automation is essential to alleviate heavy workloads and optimise efficiency. Parallel to this, strategic reinvestment should focus on talent upskilling and the modernisation of bonus and benefit frameworks.
“But they must also look at building careers, not just filling vacancies. Clearly defined advancement pathways, better training and offering sustainable apprenticeship programmes also create sustainable talent pipelines and attract high-quality candidates if done properly.
“Lastly, modern technology and AI are not eliminating finance careers – they are transforming them. Candidates increasingly want opportunities to develop technical expertise, work with innovative systems and contribute to the success of their organisation.
“Technology, however, also comes with recruitment problems. There are a huge number of irrelevant applications as more candidates are using AI to auto apply, meaning managers are spending time on candidates who aren’t committed. Adding screening questions to the initial application process will block AI-driven bot submissions and help to identify authentic candidates.
“Overall, there are opportunities as the sector is changing. However, businesses that fail to adapt risk falling behind in an increasingly competitive market. Success will depend on fresh thinking and a genuine commitment to investing in skills and people.”
For more information, readers can visit www.pineapple-recruitment.co.uk or contact Joanna at [email protected]