ESG revolutionizing finance recruitment landscape through renewed commitment in accountancy

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TLDR:

• The renewed focus on ESG and DEI in the finance industry is changing the finance recruitment landscape.
• Salaries have stabilized, hiring processes are taking longer, and roles are vacant for longer periods of time.

In recent years, the finance recruitment landscape has seen a shift with a renewed focus on environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) strategies. The accountancy and finance space has experienced a more cautious approach to hiring, with a focus on finding the right person for the role rather than just filling positions quickly. The current hiring landscape has been impacted by the COVID-19 pandemic, with hiring processes taking longer, roles remaining vacant for extended periods, and workload being distributed across current staff as organizations search for suitable candidates.

Organizations are increasingly focusing on ESG and policies, as reporting on ESG becomes mandatory under new requirements from organizations such as the International Sustainability Standards Board (ISSB), the European Financial Reporting Advisory Group (EFRAG), and the US Securities and Exchange Commission (SEC). The finance teams play a crucial role in collecting accurate ESG data for the business to share with investors, and understanding important metrics and data collection tools is essential for making sustainable decisions.

Improving diversity and inclusion within the finance industry is also a key focus, with organizations implementing strategies to ensure all employees have equal opportunities for progression. Hiring decisions should be based on objective data rather than ‘gut instinct,’ and organizations should identify talent pool gaps and work with talent attraction teams to address them at a local level. Setting DEI targets for leaders can help drive inclusivity and ensure leadership progression is linked to inclusivity efforts.

The emphasis on ESG in the finance industry is expected to have a significant impact on the future, with investors looking at sustainability when assessing business value and growth. The evolving ESG landscape requires organizations to be open to learning new strategies and approaches, and the focus on diversity and environmental policies is creating opportunities for skilled candidates from all backgrounds to drive the sector forward in the coming years.

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