When talking to accounting and finance recruiters in Canada, the US and Brazil, you might expect the scattergun threats and promises of the US president to dominate the conversation. However, as Cal Jungwirth, director of permanent placement services at Robert Half Canada, points out, uncertainty and volatility are bread and butter for today’s business and finance leaders.
‘Though we cannot predict what the future holds,’ he says, ‘many business leaders and professionals alike are closely following developments to act with agility and evolve alongside the ever-changing landscape – as most have been doing for the last five years, if not longer.’
Company growth and employee turnover are driving hires in Canada
So with ‘cautious optimism’, Jungwirth expects organisations will try to build from a steady 2024. Robert Half’s latest research, which surveyed accounting and finance hiring managers in December 2024, shows that 40% plan to increase their headcount in the first half of 2025, while 57% will at least maintain team size and fill vacated positions. These hiring plans are driven primarily by company growth (50%), employee turnover (49%), new projects (45%) and seasonal trends (36%).
Pickup
Alistair Houghton, vice president for accounting and finance in Canada at Hays, first noticed hiring levels picking up in the last weeks of 2024, after what he describes as the ‘Great Stagnation’, a period of low economic growth, during which employees’ goals and aspirations went largely unmet while profit became the number one focus.
‘The result has been a wave of employee dissatisfaction; people want to change jobs, but the market has not provided them with the opportunity,’ he says. With interest rates starting to fall, companies may start to invest in a more certain economic climate, which will lead to greater headcounts and opportunities, and potentially a wave of resignations early in 2025.
South of the border, hiring is expected to remain robust in the US, fuelled by the growing complexity of financial regulations and the necessity for businesses to sustain financial health in an ever-changing economy.
‘US companies are expected to resume hiring for critical roles’
Elio Recchia, vice president for US accounting and finance at Hays, says: ‘The hiring climate in 2024 was marked by caution due to economic uncertainties and rising costs. However, 2025 is anticipated to offer a more stable environment. Companies are expected to resume hiring for critical roles, particularly in financial planning and analysis, as interest rates stabilise and investments rise.’
However, falling numbers entering the profession, coupled with economic volatility, ongoing geopolitical tensions and market fluctuations could taint the outlook, he adds.
In Brazil, more of the same is expected, with most companies maintaining headcount, as they have since the end of the post-pandemic period, says Joshua Doonan, managing consultant at Robert Walters Brazil. ‘Interest rates and inflation levels have dropped but remain high, and we’re yet to see the full effect the US elections will have here and on the rest of the world. Brazil is also still navigating its latest tax reforms, with many believing the country needs to change its tax system to once again attract foreign direct investment from the likes of China.’
Hot tech
A common theme is the demand for hybrid skillsets blending financial expertise with data analytics and technology. But perhaps above all else, artificial intelligence (AI) is driving a huge need for new skills. Robert Half found that 50% of managers say AI is leading to a shift in high-demand skills, with 37% taking on contract workers or consultants, 25% outsourcing projects and 23% increasing hiring.
‘As finance teams adopt generative AI and advanced data analytics tools, professionals who can use them to improve risk management, create better financial models and more will only grow in demand,’ Jungwirth says. ‘Technology is producing more data, and therefore data analysis and management skills are increasingly important.’
Houghton lists eight key roles and areas that will see increased hiring in 2025:
- financial managers
- financial analysts
- accountants and auditors
- compliance officers
- tax specialists
- data analysts
- internal auditors
- payroll specialists.
‘In Brazil employers want candidates that will make a difference to teams’
All eight roles are linked to technology, regulation, economic growth and globalisation. ‘The rise of AI, big data and fintech is transforming the financial landscape,’ Houghton explains. ‘Professionals with advanced analytical and technological skills will be in high demand to navigate these changes.
‘Increasing regulatory scrutiny and evolving compliance requirements are driving demand for roles focused on risk management and compliance. As the economy continues to grow, businesses will need skilled financial professionals to manage their finances, plan strategically and ensure compliance. Lastly, the interconnected global economy requires financial professionals who can navigate complex international regulations and financial systems.’
In Brazil, businesses like professionals with project management experience, programming knowledge, language skills, experience of implementing new processes, procedures or systems, and international experience. ‘Because demand has been quite low, employers are really searching for candidates that will make a difference to teams,’ Doonan says.
Salaries in North America are expected to remain buoyant across all levels
Pay hikes
In the US and Canada, salaries are expected to remain buoyant across all levels. In the US, Recchia expects to see moderate to double-digit salary growth, as companies fight to remain competitive on base salary and total compensation to attract the best talent.
In Canada, compensation is front of mind, with 92% of professionals saying they’re concerned about inflation outpacing salaries. ‘Four in 10 say that if they don’t receive a raise, they’ll ask for one to offset inflation, while nearly three in 10 will look for a new role,’ Jungwirth says. ‘45% of managers say they’re increasing compensation specifically as a retention strategy, while 37% are increasing starting salaries for new hires specifically as a tool to attract talent. This is not to mention those who will be increasing salaries in general to keep up with market demand and remain competitive.’
Perks
Salaries in Brazil are expected to see little movement, so other benefits have become a hot topic. Doonan says: ‘Employers have been looking to implement and improve or include health/life insurance, remote work/flexible arrangements, continued education and professional development and retirement planning.
‘Other benefits include repaying student loads, “pawternity” leave, paying for your next vacation, time off to volunteer and fertility treatments. Learning and development and mental health are also becoming crucial to attracting and retaining talent, and employers are continuing to improve and offer more support with these policies.’
More information
Download the Hays Canada salary guide, the Hays USA salary guide, the Robert Half Canada salary guide and the Robert Walters Brazil salary guide
