Credit Recruitment and Salary Trends – what you need to know in 2023
An Overview of the Webinar
CICM East of England Branch Secretary William Plom, a Senior Manager at Hays Recruitment specialising in credit management presented the Credit Recruitment and Salary Trends for 2023, in an insightful webinar session.
Referring to the results of the latest Hays UK Salary and Recruitment survey. William gave an overview of:
- The employment market
- Salary growth by sector since 2020
- The comparison between Credit Management and the rest of Finance and between the private and public sectors
- Recent changes in the levels of redundancies and unemployment (including the age group with the highest level of unemployment).
What have we learnt about employers and employees in the Credit Management and Collections industry?
Factors that employees said that they consider important when assessing a new role were particularly interesting, differing from previous surveys, and containing a few surprises. Such as, 74% of employees said that an organisation’s commitment to sustainability was important to them when they were assessing a new role.
For employers, 90% of employers faced skills shortages in the last year and 67% of Credit Management employers offer hybrid working as a standard option of work.
William also shared insightful comments, observations and tips for both employers and job applicants in the current situation where the growing skill shortage meant that the number of vacancies were higher than the number of people available to fill them.
In a competitive market, he emphasised the need for employers to devise a “winning strategy” to consider the opposition in order to sell their organisation and the role as well as factoring in such things as rising inflation and salary creep on pay and pay increases. Flexibility was also required on hybrid working, job sharing, part time working, and other conditions. In the current climate it was essential for employers to move at pace on making a decisions whether to offer a job.