Although aggressive recruitment tactics have been around for some time now, the sheer intensity of this rather crude process seems to be sweeping the world of accountancy today. It appears that senior auditors are so in demand that the largest UK accounting firms are employing headhunting tactics that seem to have forgotten all about business ethics to say the least.
The Big Four
As far as these guys, Deloitte, PwC, EY and KPMG, are concerned, it appears that their own staff has been targeted recently by a number of recruitment firms and to say that these approaches have been aggressive is an understatement. Most of this activity has been aimed at colleagues just below the partner level and the fact that it is now legal for firms to place their audit contracts up for bids more often than previously has meant that this trend has increased dramatically recently.
So back to the increase in audit bid action, this has placed huge demands on the resources available as far as auditors are concerned and as result, more firms are looking to boost their own talent pool. It has even been suggested that many accountancy firms have expedited their own tenders in order to attract more senior auditors. This ‘war for talent’ is threatened to spiral into something even more distasteful because the world of accountancy has always been considered to be rather sedate and civilised when compared to other industry sectors.
The Candidate’s Perspective
For those who are in senior auditing positions and are starting to bear witness to this unsavoury behaviour, how do they react? Well, perhaps the recruitment agencies in question need to answer some pretty serious questions with regards to their ethics. Although the financial gain for both parties may seem worthwhile, it surely will be short term and how about the new role itself.
What happens when the new employee isn’t quite the perfect fit and what if the audit is not successful either?Surely the candidates themselves need to be asking some serious questions before even considering making such a big move? Hopefully this aggressive headhunting will start to fade out and the once stable world of accounting will return once more.
At Wavelength we place an emphasis on understanding both our client and candidate’s needs and requirements when it comes to employment in Public Practice. We do not believe in time wasting and our team have a wealth of knowledge of the accountancy profession which ensures we place the right candidate in the right job.
If you are looking to recruit or if you would like to further your career, our team can help. Please feel free to contact our team to discuss your requirements further.