2013 National Road Ahead Series - Finance

NATIONAL
ROAD AHEAD SERIES
2013

Finance

Specialists in finance recruitment
Finance www.michaelpage.com.au

Agenda
The Australian Economy & Employment Market

• The Australian Economy & Employment
The “Expert” Economic Opinions Market

• Current Industry Trends

• 2013 Salaries & Market Insight Video

• Michael Page Market Research

• Technology Update

• Summary

• Questions?

www.michaelpage.com.au

Boom

Historical Economic Overview 2006-2008

The “Expert” Economic Opinions GFC

2009

2013

?
Recovery

2010-2012



The “Expert” Economic Opinions

“We are expecting a modest improvement in global growth in 2013, supported by a recovery in the
emerging economies”
Paul Bloxham, Chief Economist Australia & New Zealand, HSBC

“Global growth is sluggish and expected to stay that way in 2013”
NAB Group Economics

“Australian economic growth is expected to decelerate in 2013, as the pace of growth in business
investment slows and the combined influences of cautious consumer spending and a fragile world
economy take a firmer hold.”
Stephen Halmarick, Chairman, Association of Australian Business Economists

“In the big picture sense, the job market is in a holding pattern...”
Craig James, Chief Economist, Commsec



What is the market telling us?
• fter a solid start to 2012, the Australian economy softened in the second half of the year
A

• ontinued global uncertainty, a high Australian dollar and a decrease in demand within
C
the mining sector contributed to a more challenging Australian economy

• he Australian economy is forecast to grow at 3% in 2013 and the economic outlook is
T
“stable”

• he feedback from the business community is that trading conditions will remain the
T
same in 2013

• reater global confidence as the US “fiscal cliff” has been avoided (for now)
G

• here is also a level of confidence in a range of sectors that the employment market will
T
move forward in 2013


Current Industry Trends
The Australian Economy Employment Market

Candidates

• Significant increase in job applications in 2012, particularly at the senior / executive levels

• any senior candidates have been in a stable role prior to the 2009 GFC and are now
M
looking for the next step

• otivation is both career and financial reward after “treading water”
M

• here is becoming an even greater mobility of the workforce with more relocation
T

• t the junior and mid levels there has become a greater focus on flexible working
A
arrangements and non-monetary benefits



Companies
• Rationalisation of the larger finance structures through “de-layering”
- Removal of layers of hierarchy in the finance structure
- Senior roles being split into two more junior positions
- Up-skilling of mid-level positions

• Greater focus on centralisation of outsourcing support functions
- Australian companies have consolidated some of their support functions
- A greater number of support functions are being sent overseas

• Greater use of technology and best practice policies and procedures

• Lean structures with a focus on headcount and productivity

• Greater focus on operational involvement from the finance function



Positions in Demand
• Statutory/Financial Accountants

• Management Accountants (cash flow experience)

• Financial Analysts

• Systems Accountants with niche implementation experience (Oracle R12, SAP)


2013 Salaries Market Insight Video


Michael Page Market Research

Staff Turnover

Employee Employer
Employee turnover in the next 12 months Expected staff turnover in the next 12 months

VERY LIKELY IT WILL INCREASE
52% 12%
QUITE LIKELY IT WILL BE THE SAME
20% 55%
NOT LIKELY IT WILL DECREASE
16% 23%
UNSURE UNSURE
12% 10%



Market Outlook

Employee Employer
Employee optimism in the job market Expected business conditions for 2013

IT WILL SIGNIFICANTLY IMPROVE THEY WILL IMPROVE
4% 19%
IT WILL IMPROVE THEY WILL REMAIN STABLE
27% 65%
IT WILL BE THE SAME THEY WILL DECLINE
52% 10%
IT WILL BE WORSE UNSURE
15% 6%
IT WILL BE FAR WORSE
2%



The “Expert” Business Concerns
Personal Economic Opinions

Employee Employer
Top five employee concerns Key business concerns for 2013

JOB SECURITY ACHIEVING BUSINESS GOALS WITHIN ALLOCATED BUDGET
32% 55%
SALARY VS LIVING COSTS GLOBAL OUTLOOK
28% 18%
DOMESTIC ECONOMIC DOWNTURN PEOPLE MANAGEMENT ENGAGEMENT
17% 13%
CHINA ECONOMIC SLOWDOWN STAYING AHEAD OF COMPETITORS
7% 9%
EUROZONE DEBT CRISIS OTHER
4% 3%
WAGES GROWTH CPI INCREASE
2%



Attraction Strategies

Employee Employer
What job seekers are looking for Attraction strategy most likely to be implemented

SCOPE FOR CAREER PROGRESSION PROMOTE THE COMPANY'S REPUTATION
27% 30%
INCREASE IN SALARY COMPETITIVE SALARIES
17% 28%
WORKPLACE FLEXIBILITY SCOPE FOR CAREER DEVELOPMENT
15% 26%
MORE SENIORITY/PROMOTION FLEXIBLE WORKING OPTIONS
13% 12%
LEARNING DEVELOPMENT OTHER
10% 4%
COMPANY BRAND AND REPUTATION
9%
OTHER
6%
POTENTIAL FOR OVERSEAS CAREER OPPORTUNITIES
3%



Retention Strategies

Employee Employer
What will keep employees in their current role Retention strategy receiving most focus in 2013

FINANCIAL REWARD BASED ON PERFORMANCE TRAINING CAREER DEVELOPMENT OPPORTUNITIES
(SALARY INCREASE/BONUS) 36%
29% INITIATIVES TO IMPROVE COMPANY CULTURE
ADDITIONAL CAREER DEVELOPMENT 24%
SUPPORTED BY TRAINING
PERFORMANCE BASED REWARDS
23%
18%
LEADERSHIP/MOTIVATING MANAGER
OFFER WORK-LIFE BALANCE OPTIONS
13%
11%
WORKPLACE FLEXIBILITY
15% OTHER
6%
COMPANY CULTURE
INCREASE IN BASE PAY
16%
5%
OVERSEAS CAREER OPPORTUNITIES
4%


Technology Update

What did we see in 2012?

Website video

• he average person visits a website without video for 48 seconds and website with video
T
for over 5 minutes

• minute of video = 1,800,000 words
1

• n 2013, 90% of website traffic will be video
I

Company blogs / unique content

• iller content no longer works - genuine value needs to be added through insights or
F
practical advice


Technology Update

What will we see in 2013?

Responsive website design

• ove from separate websites for desktop and mobile to one single website that adjusts
M
depending on the size of the device

Near field communication

• riggers content on a phone if an advert is tapped without the need to download an app.
T
Limited support at present - only 15% of phones

“With the right training and expertise, technology can be used effectively to find a person,
but it will never replace human interaction to secure the person”


Summary

• urrent indicators point to Opinions
The “Expert” Economic the economy being in a “holding pattern”
C

• here is an underlying level of conservative confidence in the Australian employment
T
market

• andidates in the permanent market are still seeking new opportunities
C

• ompanies are continuing to focus on staff retention and their EVP
C

• ommunication, career growth and financial reward remain as key drivers in employee
C
satisfaction


Where to be born in 2013

Question posed by the Economist Intelligence Unit:

“Which country will it be best for a baby born in 2013? Most importantly, what person
entering adulthood in the 2030’s will be happiest as to where she or he lives?”

They call this the “born index” or “life satisfaction index”

Answer:

“Australia in second place, behind Switzerland”


Thank you

QUESTIONS?


2013 National Road Ahead Series - Finance

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