CFO Network Quarterly Update

Against a backdrop of inflation, crippling supply chain issues and global uncertainty, the number of finance executives starting new roles across the Yorkshire and East Midlands regions remains very high.

March 25, 2022
CFO News Article

Strong momentum from the end of 2021 has carried through into 2022 with the number of start dates and the launch of new recruitment campaigns remaining high.

We reported last quarter on the five dominant factors behind the volume of moves of FDs and CFOs;

• The high volume of transactions (especially private equity)

• Growing SMEs appointing their first FD

• Moves driven by lifestyle changes

• Retirements

• Internal promotions

Sector Trends – the two most noticeable trends in the last quarter’s results are;

1 – Ongoing rise of appointments in the technology sector. From hardware to SaaS and from marketing platforms to consultancies, this sector is growing fast across the region.

2 – High volume of start-ups with eye-catching levels of growth. From seed capital to first PE/VC exit and IPO planning, there are some amazing business stories across the region, creating excellent opportunities for FDs and CFOs to join

Female appointments are 2% of the total. This is the highest quarterly representation we have seen since we started this series three years ago. This coincides with an International Women’s Day that gathered more attention this year than in previous years. Click here for our own feature and to read the stories of some of the inspirational women leaders in our network

Interim appointments have risen markedly. Deal activity is the dominant reason at the moment with turnarounds starting to grow and an increase in the number of corporates that have progressed with large-scale projects – some of which have coincided with the (hopeful) end of lockdown restrictions.

Wage Inflation - The general figure across the UK is 6% but it is a mistake to apply this to every discipline and role. Strong factors have stimulated the wage growth for finance executives (interim and permanent) above this figure in almost every case.

We can analyse the starting salaries over the past year against those of previous years – growth of almost 15% for some disciplines within senior finance exist and continue to rise.

The overall employment market

There is so much for finance leaders to manage in their retention and recruitment plans at the moment. A lot of developments over the past two years that include wage inflation, changing candidate behaviours, new recruitment technology and an emerging new blueprint for a strong Employer Value Proposition.

We are spending more time consulting with our clients on how to plan their long-term strategies. Please get in touch if we can help you in any way.

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