The State of Financial Recruitment in South Africa: Why Companies Must Adapt to Attract Exceptional Finance Talent
The landscape of financial recruitment in South Africa has changed dramatically over the past few years. Before COVID 19, companies had access to a healthy pipeline of experienced finance professionals actively looking for new roles. Today, the environment looks very different. Organisations that continue hiring the way they did before the pandemic are finding it increasingly difficult to secure strong finance talent.
At The People Connection, we specialise in placing top tier finance professionals across South Africa. Our market insights reveal a clear trend. Candidate expectations have shifted, the supply of experienced finance professionals has decreased, and competition for specialist skills has intensified. Understanding these shifts is essential for any company looking to attract and retain strong financial talent in 2025.
1. Financial Professionals in South Africa Are More Selective Than Ever
One of the biggest shifts in finance recruitment is the change in candidate priorities. Whereas salary previously drove decision making, today’s mid to senior finance professionals look for roles that offer:
- Real work life balance
- Hybrid or flexible working arrangements
- A positive organisational culture
- Professional development opportunities
- Leadership that values wellbeing
Exceptional finance candidates are far more selective about the employers they engage with. A role that offers no flexibility or no clear development path is often declined, even when the salary is competitive.
This means companies that want to attract strong finance talent must review what they offer and how they position themselves in the market.
2. South Africa’s Finance Talent Pool Has Shrunk
A major challenge in financial recruitment in South Africa is the ongoing shortage of experienced finance professionals. Several factors are contributing to this skills gap.
Emigration of senior financial talent
Many seasoned finance specialists have relocated to countries offering higher salaries and greater stability, leaving fewer qualified professionals in the local market.
Internal retention
Companies are investing heavily in retaining their strongest performers through internal promotions, development programmes, and counteroffers, reducing the number of candidates entering the open market.
Increased industry demand
Sectors such as FMCG, manufacturing, mining, logistics, and fintech continue to expand, all requiring skilled financial managers, cost accountants, internal auditors, and CFO level professionals.
The result is a highly competitive market where employers must differentiate themselves to access the best available talent.
3. The “Perfect Candidate” Is Rare. Companies Must Focus on Potential
A key trend in finance recruitment is the widening gap between job specifications and the candidates available. A decade ago, employers could expect CVs that matched their requirements line by line. That is no longer the case.
Companies that remain rigid on long lists of job requirements often experience stalled hiring processes.
Instead, leading organisations are focusing on:
- Strong accounting and finance fundamentals
- Analytical ability and commercial insight
- Integrity and reliability
- Leadership potential
- Adaptability and willingness to learn
- Culture and values alignment
Hiring a strong professional and developing them internally has become one of the most effective strategies in today’s talent short environment.
4. Flexibility Has Become a Critical Factor in Attracting Finance Talent
Flexibility is no longer a “nice to have” in finance recruitment South Africa. It is a major deciding factor for experienced finance professionals considering new roles.
Candidates are looking for:
- Hybrid working where suitable
- Reasonable expectations around working hours
- Supportive and people-centred leadership
- Sustainable workloads
Companies that do not offer any flexibility often lose top candidates to employers who do.
5. Employer Value Proposition Plays a Bigger Role Than Salary
With finance professionals becoming more selective, employers need to present a compelling reason for candidates to join their organisation. This includes:
- A strong, healthy workplace culture
- Leadership that engages and supports staff
- Opportunities for growth and progression
- Clear expectations and realistic role design
- A sense of purpose and impact
When candidates compare multiple finance job offers, these elements often outweigh salary alone.
How Companies Can Compete in the South African Finance Recruitment Market
To attract exceptional finance professionals in a competitive environment, companies should adjust their hiring strategy. Here are the most effective approaches.
1. Streamline the job requirements
Prioritise essential skills and remain open to developing the rest internally.
2. Act quickly during the hiring process
Experienced finance professionals receive multiple offers. Delays result in losing high performing talent.
3. Offer practical flexibility where possible
Even small adjustments can significantly increase the attractiveness of a role.
4. Strengthen your employer brand
Professionals want a workplace that supports growth, respects boundaries, and offers psychological safety.
5. Partner with a specialist financial recruitment agency
Exceptional finance talent rarely applies directly to job ads. They move through trusted networks and specialist recruiters.
The People Connection works with a select network of top tier financial professionals across South Africa. Our specialised approach gives our clients access to talent that is not visible in the general market.
Final Thought
The market for financial recruitment in South Africa has changed permanently. The companies that adapt to new candidate expectations, offer meaningful flexibility, and focus on potential rather than perfection will secure the strongest finance professionals in the years ahead.
If your organisation wants to hire exceptional finance talent in a competitive market, The People Connection can help you navigate this evolving landscape with clarity and confidence.