In the financial services sector, there’s a growing reconsideration of traditional office structures, with companies leaning towards a hybrid model requiring employees to be in the office around 3-4 days per week. This shift raises the question: are these companies aligning with the broader workforce demands?

Throughout the first half of 2024, we’ve observed a significant shift in the mindset of accounting professionals in Ireland towards flexible work arrangements. More senior professionals are reassessing their career motivations, resulting in fewer newcomers entering the market solely for career advancement. Family life has taken precedence for many senior finance professionals, a trend particularly prevalent over the past three years, as individuals prioritize personal time and flexibility.

Recruiting senior professionals for existing opportunities has become notably challenging. Many are reluctant to move unless a role precisely meets their expectations regarding financials, flexibility, benefits, bonuses, and personal life. This highlights that employers must adapt to these evolving trends to attract top talent.

Pre-COVID, career advancement was a top priority for many individuals, driving them to climb the corporate ladder quickly. However, there’s now a notable shift at all levels, with qualified professionals prioritising flexibility, personal circumstances, and current situations over career opportunities. Unless a role meets 90% of their expectations, professionals are hesitant to consider a move. Overall, we have consistently observed a trend among middle management and senior professionals prioritizing lifestyle choices over traditional career advancement compared to pre-2019.

Advice to clients

• It’s important to provide clear, and concise parameters surrounding benefits, bonus, annual salary review, talent retention program to attract top talent.
• Maintain a consistent work-from-home policy to reduce the risk of losing qualified professionals due to policy changes.
• Changes in work-from-home policies have prompted candidates to enter the job market, seeking greater flexibility. For instance, some are looking to move because their current employers have increased office days from 1-2 to 3-4 per week. Be mindful that they can make the decision to move if their role no longer suits their personal lives, hence why they are re-entering the market.

If you are concerned about how the current market may affect your position, or to discuss how we can support your hiring processes in the current market, please get in touch with Director and Co-Founder Mark Fallon at mark.fallon@coopman.ie