The latest research from the Robert Walters UK Jobs Index has revealed that that the number of tax job vacancies has experienced strong growth in the UK with an increase in 36% in the second quarter of 2017.
This growth has outstripped the national average across all professional sectors, which stood at 11%.
Despite uncertainty surrounding the general election earlier this year, businesses have continued to source tax specialists with demand highest for junior and mid-level professionals.
“Demand for tax specialists was steady throughout 2016, with opportunities available primarily at the mid to senior level,” said Lynley Hall, Manager at Robert Walters.
“However, economic and political uncertainty led to restrictions being placed on hiring budgets at many firms, ultimately causing some recruitment processes to be postponed."
Junior professionals high in demand
“With confidence rising among employers in 2017, hiring has increased again, with junior and mid-level tax specialists being highly sought after."
In 2016, mid and senior level hiring dominated activity in tax recruitment as employers looked to take on specialists who could adapt tax processes to increase transparency and ensure compliance with regulations.
“As employers look to implement new tax strategies that have been developed over the past year, junior professionals to fill core functions are highly sought after."
With these processes now in place, demand has shifted to more junior tax specialists who can perform core functions to ensure that these processes are implemented effectively.
“As employers look to implement new tax strategies that have been developed over the past year, junior professionals to fill core functions are highly sought after,” added Lynley Hall.
However, employers must be conscious of what it will require to attract and retain the most highly skilled professionals even at this junior level. Whilst competitive salaries are still important, professionals are increasingly placing an emphasis on the potential for career progression within a role.
“By providing a clear, structured path for career development to candidates, employers can give themselves an edge over competitors in attracting top talent,” concluded Lynley Hall.
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