Are employers missing out on the next generation of finance leaders?

A bright finance student. Strong aptitude test results. A clear interest in building a career in finance. More than 40 applications submitted. 

And just one interview. 

When that interview finally came, he got the job.

For early-career candidates, experiences like this can be hugely discouraging. Many are leaving university with significant debt, strong ambitions and a real desire to start building their careers. Yet they’re struggling to get in front of employers and show what they can offer. 

This is not only a concern for graduates - it raises an important question for employers too. Every experienced finance professional has to start somewhere. Before someone becomes a Management Accountant, Finance Manager, Financial Controller, Head of Finance or Finance Director, they need the opportunity to enter the profession, learn from others, develop technical skills and build confidence in a commercial environment. 

If a capable, motivated candidate can struggle that much to get in front of a hiring manager, how many other potential future finance leaders are being missed before they’ve even had the chance to start? 

For businesses recruiting into finance teams at qualified level and above, this may not feel like an immediate concern. A graduate or junior finance candidate may be several steps away from the Financial Controller, Head of Finance or Finance Director appointment you need to make today.

But that’s exactly why this issue matters… 

The qualified and senior finance talent employers rely on now did not appear overnight. They were once trainees, assistants, semi-qualified accountants and developing finance professionals who were given opportunities, support and exposure at just the right time. 

If fewer people are entering the profession, progressing through finance teams and developing both technical and interpersonal skills, the impact will not only be felt at entry level. Eventually, it will be felt in the qualified and senior market too. 

In this article, we consider what this means for employers recruiting qualified and senior finance professionals, and how businesses can think more strategically about the talent they will need in five to ten years’ time. 

Today’s junior hiring decisions shape tomorrow’s senior talent market 

Many private sector employers are currently operating in a cautious hiring market. Rising costs, increased National Insurance contributions, minimum wage pressures and wider economic uncertainty mean businesses are thinking carefully before adding to their teams. 

That caution is understandable. When budgets are tight and workloads are high, employers often need finance professionals who can make an immediate impact. As a result, recruitment activity can become focused on experienced candidates, technical skills and roles that solve a clear, immediate commercial problem. 

This is not solely a finance and accountancy problem. Statistics suggest that around 700,000 university graduates are currently out of work and claiming welfare benefits. But if businesses collectively reduce opportunities for graduates, trainees and junior professionals, they will only add to these figures. Additionally, they may weaken the talent pipeline that future qualified and senior appointments depend on. 

Today’s junior finance professionals are the people who could become tomorrow’s Management Accountants, Finance Managers, Financial Controllers, Heads of Finance and Finance Directors. And if they’re not given opportunities to enter, develop and progress, where will the next generation of finance and accountancy leaders come from? 

Are recruitment processes filtering out future potential? 

One of the biggest challenges is not only the number of opportunities available, but the way recruitment processes are being managed. 

With high volumes of applications for entry-level and junior finance roles, employers understandably need an efficient way to shortlist candidates. In some cases, that means automated screening, rigid criteria, keyword-based selection or application processes that favour candidates who already know how to navigate the system. 

But does that always identify the best long-term talent? 

Some capable, motivated and personable candidates may never get the opportunity to sit in front of an employer and show who they are. They may have the right attitude, communication skills and willingness to learn, but lack the experience, confidence or technical language to stand out on paper. 

Others may have strong soft skills, commercial curiosity and leadership potential, but not yet have the technical skillset employers are asking for. With the right training, support and exposure, those candidates could develop into valuable members of a finance team. 

This matters for employers recruiting at qualified and senior level because technical ability alone is rarely enough in those roles. Businesses often need finance professionals who can influence stakeholders, lead teams, communicate clearly, support decision-making and add commercial value. 

In short, if future leaders are being filtered out before they even enter the profession, the impact will eventually reach the senior market. 

Technical skills are only part of a leadership skillset 

At the qualified and senior level, finance employers are rarely looking for technical competence alone.  

Of course, a strong Financial Controller, Head of Finance or Finance Director needs to understand the numbers, but they also need to manage people, influence decisions, communicate across the business and provide strategic support. 

Those skills take time to develop. They’re built through exposure, mentoring, feedback, progression and experience across different finance environments. That’s why succession planning can’t start when a senior vacancy becomes urgent. By that point, the gap may already exist. 

Instead, if businesses want access to strong qualified and senior finance talent in five to ten years, the market needs people coming through now - people who are being given the chance to develop both technical and interpersonal skills. Otherwise, employers may find themselves choosing from a senior talent pool that’s technically capable, but lacking the leadership, mentoring and communication skills required for more strategic roles. 

Recruitment is still people-centred 

Technology has an important place in recruitment. It can help manage volume, improve speed and create structure - particularly when employers are receiving hundreds of applications for a single role. 

However, recruitment is still, at its heart, a people-focused process. 

A CV or application form can tell an employer some things, but it can’t always indicate potential. It can’t fully capture how someone communicates, how they think, how they respond to challenges, or how they might grow with the right support. 

This principle applies at every level of finance recruitment. 

At senior level, the strongest candidate isn’t always the person with the most obvious CV. It may be the individual with the right blend of technical expertise, commercial judgement, leadership ability and cultural fit. 

That’s where a specialist recruitment partner can add real value. For qualified and senior finance appointments, the role of a recruiter is not simply to match a CV to a job description. It’s to understand the business need, assess the market, challenge assumptions and help identify candidates with the right long-term fit. 

Succession planning needs to happen before the senior vacancy appears 

For businesses recruiting for qualified and senior finance professionals, succession planning is critical. 

Often, organisations only start thinking about their leadership pipeline when a key person leaves, a team structure changes, or a senior vacancy becomes urgent. But by that point, it can be too late. 

A stronger approach is to look ahead and ask questions such as: 

• Where are our future Finance Managers, Financial Controllers and Finance Directors likely to come from? 
• Do we have people in the business who could step up with the right development? 
• Are we giving developing finance professionals enough exposure to leadership, stakeholder management and commercial decision-making? 
• Are we assessing interpersonal skills as well as technical ability? 
• Are we relying too heavily on the external market to solve future leadership gaps? 
• Are our recruitment processes helping us identify long-term potential, or only immediate experience? 

This doesn’t mean every business needs to recruit large numbers of junior finance professionals. But it does mean employers need to be aware of how today’s decisions can affect tomorrow’s talent market. 

For some organisations, that may involve creating clearer internal progression routes. For others, it may mean developing part-qualified and newly qualified professionals more intentionally. It may also mean reviewing how senior finance roles are defined, how potential is assessed and how future leaders are supported before they reach a critical point in their career. 

What does this mean for employers recruiting qualified and senior finance professionals? 

For employers currently hiring at qualified level and above, the message isn’t that every business must suddenly invest heavily in junior recruitment. 

Instead, it’s that the senior finance market is shaped by what happens earlier in the talent pipeline. 

When fewer people are able to enter and progress within finance, the long-term impact is felt further up the talent pipeline. Over time, this can leave businesses with fewer professionals who have the technical experience, commercial exposure and leadership skills needed for senior finance positions. 

That creates a potential challenge for businesses that need experienced, commercially minded finance professionals who can lead teams and support strategic decision-making. 

Employers can reduce that risk by: 

• Reviewing succession plans across the finance function 
• Developing qualified and part-qualified professionals with leadership potential 
• Assessing communication, judgement and mentoring ability alongside technical skill 
• Offering exposure to commercial decision-making earlier in someone’s career 
• Creating realistic progression routes within the finance team 
• Improving candidate experience to protect employer brand 
• Working with specialist recruiters who understand the qualified and senior finance market 

Looking beyond today’s needs 

Finance teams will always need people with strong technical skills. However, the future strength of a business will also depend on people who can lead, influence, mentor and add commercial value. 

In a challenging market, it’s natural for employers to focus on immediate hiring needs. But if businesses only think about the vacancy in front of them, they may create bigger challenges for themselves in the future. 

The next generation of finance leaders is already out there. It could be that bright finance student submitting dozens of unsuccessful applications. The question is whether the market is giving those entry-level candidates enough opportunity to develop into the people employers will need in five to ten years’ time. 

At Sellick Partnership, we work closely with private sector employers recruiting qualified and senior finance and accountancy professionals. We understand the importance of finding candidates who can not only meet today’s requirements, but also support long-term business goals. 

Whether you are hiring for a business-critical finance role, reviewing your succession plans or looking for insights into the qualified and senior finance market, our specialist Finance & Accountancy recruitment team can help.