Hays Senior Finance Reveals Rise in Demand for Finance Chiefs in Greater London

LONDON, Feb. 1, 2011 /PRNewswire/ -- Hays Senior Finance has revealed that finance professionals in Greater London are enjoying a rise in demand for their business management skills and commercial know-how, according to research from the leading recruiting expert. Two-thirds of employers say retention of qualified accountants will be a key priority in 2011, with four in 10 (40 per cent) worried they won't be able to hold onto their star players. The research suggests they may have good reason to worry, with two-thirds (67 per cent) of senior finance professionals saying they intend to look for a new job in the New Year.

Paul Thomas, regional director of Hays Senior Finance in London, said, "Companies of all sizes, from blue-chip multinationals to small and medium enterprises (SMEs), have been lifting headcount freezes to ease the burden of existing finance teams. Employers are also making more use of interim appointments, with some companies paying interim chief financial officers (CFOs) up to 1,200 pounds Sterling a day."

In London, chief financial officers (CFOs) and group finance directors in large corporate organisations can expect to earn 200,000-500,000 pounds, with many employers paying more to fill their most senior finance jobs than they typically did prior to the economic downturn. Competition has already intensified to the extent that senior finance professionals routinely receive more than one job offer.

Thomas continued: "Employers are increasingly being trumped by lucrative counter-offers, as CEOs and board directors attempt to hang onto their finance chiefs. Talented qualified accountants are increasingly being sought-after for financial analysis roles, or to help mitigate operational or business risk.

"Accountants played key roles for most organisations during the recession. They implemented painful but necessary cost-saving drives, and identified areas of business with the greatest revenue-earning potential. Today, as companies look to safeguard rising revenues and find new markets in a fragile economic climate, those same senior finance professionals are now helping them plot and steer a path to sustained growth and financial strength."

About Hays:

Hays plc (the "Group") is the leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Australia and one of the market leaders in Continental Europe. The Group operates across the private and public sectors, offering interior design jobs and construction jobs, amongst others, in permanent positions, contract roles and temporary assignments.

As at 30 June 2010, the Group employed 6,845 staff operating from 270 offices in 28 countries across 17 specialisms.

SOURCE Hays