Credit control continues to sit at the heart of a business’s fiscal well-being, and ongoing economic unpredictability assures the continued demand for skills in this sector. Out of the jobs that are most in-demand this year, our Top Jobs Report 2024 reveals that the credit controller role sits in 8th place, with salaries ranging from £24,000 for entry-level roles to £40,000 for experienced professionals, with a typical salary of £30,000. Aside from offering a competitive salary, are you equipped with the tools to attract and retain skilled candidates within your credit function this year? Here’s what you can do.
Champion the importance of training – 92% of credit management employers experienced skills shortages in the last year, according to Hays UK Salary & Recruiting Trends Guide 2024. Over half of credit professionals want their organization organisation to invest in training, and 46% want work-hour training time. Employers can overcome skills shortages by focusing less on specific skills and experience, with 77% already aware of this and hiring professionals lacking all required skills.
Have a clear offering on flexible working – In a competitive recruiting market, attracting and retaining staff is crucial. Hybrid working, with 60% of credit professionals preferring remote work, is key. With 73% of credit management employers offering this, increasing competitiveness.
Show your response to artificial Intelligence – Nearly 26% of credit management employers use AI tools, with 62% expecting future use. However, 76% of professionals believe their employer is not helping them prepare for AI use, and 24% lack the necessary skills. The Our report “What Workers Want: Working with AI 2023” provides insights on how employers can support their staff in using AI tools effectively.
Communicate your Employee Value Proposition (EVP) – Credit controllers prioritize prioritise job security and Employee Value proposition (EVP), with 80% of employees expressing this. However, 71% of credit professionals are deterred from applying due to a poor first impression, and 59% leave a job if it doesn’t match their expectations. To attract and retain top talent, employers must develop a clear EVP, stick to it, and highlight it throughout the employee lifecycle.
Looking to discuss your credit management hiring needs for 2024? Reach out to me:
Senior Business Director