18 Apr 2024
by Andrea Morgan, Hays

North East Credit Management: A Booming Market with Skilled Talent

Catch up on what you missed about the CICM and Hays annual salary and recruiting trends 2024 webinar.

The Chartered Institute of Credit Management (CICM) recently partnered with Hays to present a webinar exploring credit management recruitment trends in the North East of England for 2024. The key takeaway? The credit control market in the region is thriving, offering exciting opportunities for both employers and professionals.

High Demand, Strong Salaries

The North East boasts a significant demand for credit control professionals leaning heavily in favour of skilled credit control specialists. This translates to attractive salaries, with the average credit controller earning £32,000 annually. Experienced professionals can command even higher salaries, reaching up to £45,000.

Experienced Workforce, Diverse Landscape

The North East credit control landscape is characterised by a highly experienced workforce. Most professionals boast at least eight years under their belt, demonstrating a deep understanding of the credit management field. Interestingly, the market leans slightly female, with women making up 54% of credit control professionals in the region.

Location, Location, Location

While the entire North East offers a wealth of credit control talent, location does play a role. Newcastle, for instance, has the highest concentration of both candidates and vacancies. This creates a competitive job market, where employers need to stand out to attract top talent. Conversely, Sunderland presents a unique opportunity. With a surplus of qualified professionals, employers in this area who are open to flexible or remote working arrangements can build a strong talent pool.

Beyond the Numbers: The Skills Employers Seek

Salary and location are important, but for employers seeking long-term success, a focus on skills is paramount. The webinar identified several key competencies that credit control specialists need to possess:

  • Management and Leadership Skills: The ability to manage teams and processes effectively is crucial for credit control professionals, especially those in senior roles.
  • Data Analysis Expertise: Credit control relies heavily on data analysis. Skilled professionals can leverage data to identify trends, assess risks, and make informed decisions.

The webinar also emphasised the importance of a strong Employer Value Proposition (EVP) for attracting and retaining talent. Competitive salaries, attractive benefits packages, and a positive work culture all contribute to a strong EVP.

By understanding the current trends in the North East credit control market, both employers and professionals can make informed decisions. Employers can tailor their recruitment strategies to attract the best talent, while professionals can leverage their skills and experience to secure rewarding careers.