NATIONAL PAYROLL WEEK - Andrew Walker

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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To mark National Payroll Week, we asked our Commercial Director Andrew Walker, who has more than 20 year’s recruitment experience and focuses on the placement of transactional finance and payroll specialists in South Yorkshire for insight into the current market.

How is the current marketplace and what are your expectations for how the next 6-12 months will look?

Payroll has been particularly in demand over the last 12-24 months and the employment market is still extremely buoyant, with demand outweighing supply.

The next 6-12 months may depend upon any changes in the economy; as it stands there is no sign of the employment market slowing down, however that may change if we enter a recession and belts tighten.

What are the main recruitment challenges being faced?

There’s high demand from employers for quality, experienced specialists however a short supply of suitable candidates, compounded by a historical lack of investment in training new payroll staff means that the balance is unlikely to be restored in the short to medium term.

What should employers be doing to overcome these challenges?

Employers need to be looking at one of two approaches. Firstly, raising salaries both in terms of retaining their own talent and also to attract the limited number of candidates looking for a new role. Payroll salaries have risen considerably in the last 24 months and, whilst demand outweighs supply, will continue to rise. Effectively, companies will find that they are paying a premium to secure the personnel they need and be the employer of choice.

Secondly, there needs to be a return to recruiting and investing “rookies” in order to grow their own talent through training and development. Many clients are recruiting graduates, AAT studiers, or administrators and training them in payroll and providing support for relevant qualifications such as the CIPP (Chartered Institute of Payroll Professionals).

What should candidates be doing to take advantage of this opportunity?

Experienced payroll specialists with the right skills will find that there’s a wealth of opportunities currently available to them. Those in the early stages of their finance career should give serious consideration to payroll as it offers an opportunity to use numerical and IT skills in a people-orientated role.

Payroll can often be an area of Accounting and Finance that is overlooked, despite it offering just as many opportunities for post graduate qualification, for promotion and for high earning potential as other areas. It offers a viable route for longer term development with the provision of full training and further funded qualifications potentially available.

What should candidates be looking for when considering a new role opportunity?

Consider your fit with the company culture. Yes there are currently genuine opportunities to improve your salary at the moment, but any move should be because it will be the ‘right’ place for you to work and offer you the progression that you are looking for… Don’t just follow the money.

How can employers put themselves in the best possible position to secure the top talent?

Sell yourself as an organisation and what you can offer somebody with ambition seeking strong career development opportunities. Be prepared to move (very) quickly and be decisive; candidates have so many choices and so many options on the table, that a poor process or a slow process means most of the time you will miss out.

Additionally, be open minded to recruiting inexperienced candidates and invest in training and qualifications. The fight for talent is intense for experienced candidates, with prices rising quickly. Investing in new entrants to the market can be a rewarding and cost-effective alternative.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent transactional finance professionals across the full spectrum of roles including accounts payable, credit control, payroll and purchase ledgers. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.