Finance & Accounting Talent Insights

Diane Taylor • April 14, 2025

Tackling the Talent Crunch: Current Challenges in Finance & Accounting Recruitment in Australia (And How to Overcome Them)

As we move through 2025, Australia’s finance and accounting sector is facing a recruitment landscape that’s both promising and perplexing. Demand is high, salaries are competitive and firms are hiring, yet many are struggling to fill key roles. Why? Because the challenges in finance and accounting recruitment today are complex and evolving. In this blog, we’ll explore the key recruitment challenges facing the industry and more importantly, how employers and recruiters can overcome them.


Challenge 1: Shortage of Skilled Talent, Especially for Roles based in Multiple Locations

The problem: There’s a significant talent gap when it comes to professionals who not only understand traditional finance and accounting but also bring strategic, commercial, and tech-savvy skills to the table. Roles like Finance Business Partners, Financial Analysts with data analytics know-how, and CFOs with a digital edge are in hot demand and short supply.


How to overcome it:

  • Upskilling current teams: Encourage and invest in continued professional development, especially in areas like data analytics, ESG reporting, and strategic finance.
  • Widen the candidate pool: Look beyond traditional qualifications. Candidates with transferable skills from industries like IT, consulting, or operations often bring fresh perspectives.
  • Partner with education providers: Collaborate with universities and professional bodies to influence curricula and create talent pipelines early.


Challenge 2: Technology Transformation & Talent Mismatch

The problem: Automation, AI, and cloud-based platforms are transforming accounting roles but many professionals haven’t caught up. There’s a growing mismatch between the tech-forward roles companies need and the skills many applicants currently have.


How to overcome it:

  • Update job descriptions: Clearly define the new expectations around technology and tools, so candidates know what skills to develop.
  • Invest in onboarding and training: Rather than expecting tech-perfect hires, invest in rapid upskilling programs once candidates are on board.
  • Recruit for adaptability: Look for candidates who demonstrate agility and a willingness to learn even if they don’t tick every box today.


Challenge 3: Changing Candidate Expectations

The problem: Today’s finance professionals want more than just a good salary. They’re seeking purpose, flexibility, meaningful work, and a better work-life balance. Companies that haven’t adapted to this new mindset are struggling to attract top talent.


How to overcome it:

  • Offer flexible work: Flexible or remote roles are now standard expectations, especially in corporate finance and accounting.
  • Build a strong employer brand: Showcase your company culture, values, and growth opportunities on social media and career platforms.
  • Focus on purpose: Candidates want to feel that their work makes a difference. Be clear about how finance contributes to the broader mission of your organization.


Challenge 4: Regional & Economic Disparities

The problem: Australia’s finance talent isn’t evenly distributed. Some cities and regions have a surplus, while others are in a hiring drought. Add in economic uncertainties and varying state-level employment trends, and recruitment becomes even more complicated.


How to overcome it:

  • Tap into remote talent: Expand your search to include regional professionals who can work remotely. This not only widens your pool but also supports regional employment.
  • Offer relocation support: Incentivize top candidates to move for in-person roles with relocation assistance, housing support, or transitional flexibility.
  • Leverage government support: Explore regional hiring incentives and grants to support training and employment in under-served areas.


Challenge 5: Demand for Cybersecurity & Regulatory Expertise

The problem: Finance teams are increasingly expected to understand cybersecurity, privacy regulations, and digital risk. But very few professionals are trained in these areas, creating high demand for compliance-savvy accountants and auditors.


How to overcome it:

  • Cross-train finance teams: Offer internal training sessions in cybersecurity fundamentals and regulatory awareness.
  • Hire across disciplines: Recruit from IT and legal backgrounds for certain finance roles that demand compliance or data security knowledge.
  • Work with specialist recruiters: Use recruitment agencies with deep networks in both finance and cybersecurity to source the right talent.


The finance and accounting recruitment landscape in Australia is challenging but with every challenge comes an opportunity to adapt, rethink, and evolve. By focusing on flexibility, skills development, employer branding, and regional inclusivity, employers can turn the talent crunch into a strategic advantage. It’s no longer just about hiring the best, it’s about building the kind of environment where the best want to be.


Want help refining your recruitment strategy or building a future-ready finance team? Let's chat, the talent is out there, and with the right approach, you’ll find it.

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Fast Changing Post Covid Recruitment Market Q3 2021

By Erica Westbury • August 29, 2024
It’s definitely a funny old market. On one hand I’ve got a friend with a sizeable retail business telling me his last ad for casual workers attracted over 900 responses and then I’ve seen people come to us after having chronically unfilled job vacancies in their business costing them an absolute fortune in lost customers and reputation. Granted the casual workers aren’t the skilled labour market we work in but I’m not sure anyone could have guessed this shifting job market 6 months ago. Seek are quoting job ad numbers are highest since the Covid-19 pandemic and we’re definitely feeling it at Norwest Recruitment. Not all companies are thriving of course and my heart goes out to those but many are and recruitment plans for our clients in Western Sydney are pedal to the metal. So that means that skilled job seekers have choice. Not only are they a little gun shy at leaving the company that kept them through the tough times of Covid but they now have plenty of options. Their counterparts who were let go when Covid hit will also be wanting to make it into your shortlist. It’s going to take some due diligence to work out which one you want in your business. We all know the cost of a bad recruitment hire. One hiring mistake I’ve seen a few times in the last month may be because some hiring managers aren’t aware of the changed market conditions and are feeling over confident. Maybe they think there’s 900 skilled professionals applying for every job. Four times this month I’ve heard of offers to candidates being less than the salary they were represented at. What??? One thing I’ve learned in life – don’t mess with people’s salaries. It’s very personal and it’s often attached to their status and ego. We all live to our salary capacity. There usually isn’t any wriggle room to drop. Don’t mess with it. This is what happens next. You will not get another bite at that cherry. Don’t think for a minute you’ll be able to come up to meet their salary expectation once they’ve rejected your low-ball offer. It’s over. Very rarely have I seen job seekers accept the reduced salary offer. It’s a risky move. If they’re talking to another company you’ve lost them. Sometimes I’ve seen them decline and then accept the second higher offer. Sometimes. But here’s how that scenario plays out. It’s can be even worse than the jobseeker declining. They accept it. They accept it with a bad taste in their mouth and then keep their eye on the market and feelers out with recruitment agencies. As soon as a Recruiter represents another role to them they’re gone – two months into starting in the new job. It’s disruptive, costly and time consuming. Back to square one for you. So, recruitment 101 tip. Unless the job seeker doesn’t meet the job criteria and hasn’t got the right experience do not think this is a good time to save money. Don’t risk the best person in your shortlist going to your competitor. Here’s to attracting and retaining the very best people in 2021.  Written by Erica Westbury, Managing Director of Norwest Recruitment.