BSA 2024 Internal Audit Salary Guide v3 SPREADS - Flipbook - Page 5
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Meanwhile, there has been a signi昀椀cant increase in
the number of employers mentioning their 昀氀exible
working approach as an impediment to hiring.
Currently, 30% believe their policies are creating
problems for them, up from 20% in 2022.
This is partly due to recent changes in 昀氀exible working
attitudes within organisations, which is a trend that
we discuss in more detail later in this report.
More than half (53%) of employers say their biggest
recruitment challenge is candidates lacking suf昀椀cient technical or regulatory knowledge.
Within the banking sector, for example, there is
ongoing demand for subject matter experts with key
skillsets, such as data analytics, model risk management and 昀椀nancial crime auditing.
Top three factors preventing hiring
Compensation
challenges
2023: 66%
2022: 77%
2021: 64%
Insufficient technical/
regulatory knowledge
2023: 53%
2022: 51%
2021: 50%
Remote working
policies
2023: 30%
2022: 20%
2021: 17%
Across the internal audit profession as a whole, many
昀椀rms are seeking to rebalance their teams to include
more IT auditors, but demand continues to outstrip
supply.
“During the post-pandemic period, companies were
hiring at a blistering pace because they were worried
about losing good candidates,” says Jack Pyle,
Executive Consultant at Barclay Simpson.
In spite of the prevailing market conditions and
gloomier economic outlook, candidate con昀椀dence
is remarkably resilient. Our survey data shows that
92% of professionals are optimistic about their job
prospects – a 昀椀gure that is almost unchanged
(93%) from 2022.
“As the market has shifted, employers are being
more selective and the recruitment process is taking
much longer to complete. This is happening at a
time when professionals are already hesitant about
switching roles.”
Nevertheless, the percentage of people who say
they are ‘very con昀椀dent’ has declined from 38% to
28% year on year. Candidates are also becoming
increasingly frustrated with employers’ recruitment
processes, which are lengthier now than they have
been for some time.
Among candidates who are considering a change,
remuneration remains the biggest motivator. Of the
professionals we surveyed, half ranked it as their top
reason for seeking out new opportunities. Career
development (18%) and a better work-life balance
(18%) came a distant second by comparison.
