HOW TO PROMOTE FROM WITHIN

Sharp Consultancy's Salary Survey 2025/26: Resetting the Landscape: Strategic Shifts in Finance Recruitment

It would be remiss not to start by addressing the elephant in the room — 2024 was a challenging year.While there were many reasons for this and numerous industries were affected, recruitment likely bore the brunt of it, particularly in the 6 months post-election(s).Whilst key roles and critical hires remained unaffected, certain head counts and processes were scrutinised and investment paused with internal restructures and automation utilised to reduce costs, in some instances, at the expense of employees. We subsequently saw an increase in candidate activity, with the talent pool strengthening. As those pressures eased in Quarter 4, recruitment processes saw improvement and green shoots have emerged. Optimism is on the rise in key hiring processes, albeit with a caveat. The cloud of additional cost increases in April, which is still dissipating. The senior finance and C-Suite market remains relatively unaffected, both regarding opportunities and candidates, it is the levels below that we have seen more change. In the evolving landscape of working dynamics, the volume of hybrid working is gradually waning despite sustained interest from candidates, presenting fewer job opportunities. While the blend of office and remote work remains desirable, it is no longer the predominant factor, indicating a notable shift in priorities for clients and candidates’ acceptance alike. Conversations with candidates underscore a growing desire around the importance of having a supportive mentor or manager and many professionals are increasingly open to a full-time return to the office if it guarantees enhanced guidance and avenues for professional advancement. "The salaries throughout transactional finance have stabilised across the region."Throughout the professional practice market, some similar trends have been observed but there have been noticeable differences in the past year. Salaries across the range of candidates in professional practice, from AAT to fully Qualified (ACA/ACCA) individuals are still rising and those firm’s able to offer competitive salaries alongside stronger training contracts are beating out the competition in a candidate market with a growing focus on study support packages and career advancement opportunities for Part-Qualified candidates, indicating an increase in demand from employers and the volume of available job seekers. The salaries throughout transactional finance have stabilised across the region, in what feels like the longest period of stability seen since Q4 2020 and we expect transactional finance salaries to remain stable throughout 2025/26, with anticipated salary increments to be moderate compared to the significant increases observed throughout the last 2 years. AI & Systems (process automation) continues to impact accountancy and finance, in particular, across larger functions but this has increased the need for wider interim support to assist with the transition and implementation especially with large, automated processes. Whilst 2025-26 will not be the same marketplace for recruitment as seen in previous years, there is certainly a growing level of optimism and whilst a more settled market may be seen as a negative in some areas, for those that have weathered the peaks and troughs over a longer period of time, it will feel very normal and a strong setting for both employees and employers to take advantage and thrive, with an increasing emphasis on growth and development.Download the full Salary Survey here!

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There are many positive reasons from both an employer and employee perspective when it comes to promoting individuals from within an organisation. For dedicated and talented members of the team it provides clear career progression routes and encourages higher levels of staff retention; in addition, these individuals are motivated and have an in-depth understanding of the business as well as established relationships with clients, customers and colleagues.

However, it is worth remembering that someone who excels at their job, may not necessarily be suitable for a managerial role and, similarly, the best managers are not always – or have been – the top performers within the teams that they now lead.

What is vitally important when it comes to promoting from within an organisation is recognising the qualities that are needed to make the step into a managerial role. It is also essential to appreciate that the manager route is not for everyone - or that more time is needed – and have in place alternative progression routes, training or mentoring to enable those with potential to receive the additional support they need to make a move up.

Key qualities to look for when promoting from within:

Communication: do they display good communication skills and are they able to communicate well with people at different levels throughout the organisation?
Leadership: are they someone who leads by example, is motivated and proactive in their approach? Do they encourage and support others that they work with?
Time management and organisation: do they organise their time well to ensure workloads are manageable and deadlines are achieved? Can they see the bigger picture and have an appreciation of different priorities and responsibilities?
Teamwork: do they work well within a team? How will they make the adjustment to managing those they had previously worked at a similar level to? Can they motivate and encourage others to work together to achieve a collective outcome?
Solutions-focused: can they look objectively at a situation and suggest suitable approaches to overcome any problems? Do they have the ability to support others in their team and are they approachable?

Before recommending a promotion:

If there is someone that you feel could
be a good candidate for an internal promotion, it can be beneficial to identify
opportunities where they can take on additional responsibilities – such as
taking a lead role of a particular project – to gain an insight into how they would
perform.

After confirming a promotion:

Ensure that you continue to provide suitable support whether that is recruiting someone to back fill the position that they have vacate, team restructure or a mentoring programme whilst they adjust to their new role.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT UStoday to discuss your recruitment needs with a member of our team.