Credit Management Hays Salary and Recruiting Trends Guide 2025

Widespread economic uncertainty, continued cost-of-living concerns, persistent skills shortages, talks of skills-based hiring, the growing presence of Artificial Intelligence (AI) and hybrid working trends are some of the factors we’ve seen re-shape the world of work over the last 12 months. The question is: how will these factors impact us in the year ahead? Our 2025 UK Salary and Recruiting Trends guide reveals how finance employers and credit professionals feel about the challenges and opportunities that await.

Economic concern is on the rise

It’s no secret that market conditions are difficult today, but being aware of the factors that pose the greatest threat is an important step towards preparing for what’s to come and getting the best out of the year ahead.

As it stands, over a third (35%) of finance employers are optimistic about the wider economic climate and the employment opportunities it may create within the next 2-5 years, a slight decrease from last year (38%). The external factors that organisations expect to face in the upcoming 12 months include the economic environment (60%), rising costs for businesses (57%) and recruiting the right talent (49%). The biggest hurdles employers predict they’ll contend with internally are talent retention (56%), managing change (53%), and skills shortages within current teams (37%).

Similarly, optimism towards the wider economic climate has dipped amongst credit professionals, with just 17% of those working in credit saying they are optimistic about the wider economic climate and future employment opportunities, compared to 38% who said the same the year prior.

Job satisfaction and work-life balance are on the up

On a more positive note, economic uncertainty hasn’t had a negative impact on job satisfaction, as over two thirds (68%) of credit professionals are satisfied in their current role, a slight increase from the year before (66%). As well as this, most (70%) people working in credit plan on staying put rather than changing to a different industry in the year ahead.

Instead, many credit professionals have their sights set on a new opportunity within the sector; over six in ten (61%) plan to move jobs in the next 12 months and 46% even sooner, within 6 months. When considering a new position, job security (69%), tailored flexible working policies (64%) and an engaging and supportive team culture (49%) were cited as the top three factors that make an organisation most appealing. It's also promising that two thirds (66%) of those working in credit are currently satisfied with their work-life balance, versus 60% who said the same in last year’s survey.

Hiring for potential could be the way forward

Close to seven in ten (69%) finance employers say they are planning to recruit new staff over the year ahead, a notable increase on the year before (60%). However, the vast majority (92%) have experienced some degree of skills shortages in the past 12 months, rising from 88% of employers who struggled to find talent in the year prior. The top five soft skills that are most in-demand include communication (51%), the ability to adopt change (41%), the ability to learn and upskill (33%), flexibility and adaptability (31%) and coordinating well with others (29%).

Nearly half of finance employers are open minded when it comes to the benefits of skills-based hiring, as 47% say it is not important to them that a job applicant has a degree, compared to 53% of employers who say an applicant’s academic background is important.

Hiring for potential is certainly an effective way to combat the shortage of skills, as employers can nurture talent through training and development opportunities. As our research shows, three quarters (75%) of finance employers are confident a person’s willingness to learn is more important than their existing skills. On top of this, 77% say they are likely to hire a professional who does not possess all the required skills, with the intention of upskilling them. Positively, 81% of employers believe there is scope for career progression for their staff at their organisation.

Pay transparency is a priority

Over the last 12 months, 88% of finance employers increased their employees’ salaries, with 24% increasing wages by more than 5% and 87% plan to increase salaries in their organisation in the year ahead. Salaries across the accountancy and finance sector more broadly have increased by an average of 3.6% over the last year.

Optimistically, 71% of credit professionals are satisfied with their salary, but what emphasis do credit professionals place on pay transparency today? Crucially, over half (57%) would not consider applying for a role that does not include the salary on the job description and three quarters (75%) of professionals say it is important for their organisation to be open about how pay levels and pay rises are set.

AI training is falling seriously short

AI has firmly established itself across the world of work, but how to advantage of these rapid advancements in technology is an ongoing challenge. While close to a third (35%) of finance employers say their organisation is recommending the use of AI technologies or tools in the workplace, 65% are not recommending it. There seems to be a sense of apprehension around AI’s capabilities and how we can tap into its potential and, without the necessary training and upskilling, organisations will miss out on the opportunities AI could bring.

Our research reveals that less than a third (32%) of finance employers say their organisation offers training or support for the use of AI and almost half (47%) don’t have access to the right skills to make the best use of AI. Over a quarter (29%) of employers are unsure whether their workforce has what it takes to utilise AI.

In terms of credit professionals, only 9% are currently using AI tools as part of their role and just 14% have received training or support from their employer to adopt AI technologies. In stark contrast, nearly three quarters (73%) of those working within credit roles would be willing to take part in upskilling or reskilling programmes to utilise AI technologies in the workplace.

Hybrid working remains the go-to agreement

The draw of flexible working is still going strong, as more than half (57%) of credit professionals would not accept a job in the future that didn’t offer hybrid working. 59% are currently working in a hybrid way, whilst over a quarter (27%) are back in the workplace fully and 14% are based fully remotely, which is consistent with last year’s findings.