Business Transformation Jobs Increase Demand for Executive Managers

Good news for executive managers in Australia. The top ASX listed companies are embarking on major transformation programs across Finance creating demand for accounting, finance, risk, compliance and IT professionals. After a 2 year drought of roles in the $200k – $350k salary band there now seems to be a very strong appetite to hire talent.wth through market share.

Business Process Transformation and Business Growth

With market conditions still tough many businesses are scrutinizing their current talent pool and have identified several skills gaps in their Executive Management teams. The skill identified as most lacking in current Executive Managers today is commercial acumen. With most businesses enjoying huge growth in the last decade there has been very little scrutiny placed on the ability to provide strategic insights. Post GFC, the cost of financing any non-organic growth is high and the opportunity to grow through acquisition minimal. The result is most businesses have to turn to innovation in order to increase growth through market share.

After consultation with most of the major financial institutions in Australia it is apparent that the focus is very much on maximizing customer spend. But with outdated systems and a reluctance from employees to utilize Management information systems this is proving difficult. Hence most of the majors institutions are embarking on ambitious transformation programs that will ultimately improve the quality of real time data to the business.

Business Transformation Jobs Will Increase in 2011

Of course the main key driver of any business transformation program is to ultimately reduce running costs and improve output. But if we look at where most of the major hires have occurred in the last 12 months the big 4 banks have been keen to attract Executive General Managers for product lines such as cards, mortgages and business banking. The wealth managers have also begun major changes and with all of the big 4 banks now having sizeable wealth management arms expect even greater competition over the next six months. Notably Macquarie have commenced a business transformation program which now means that Australia’s 5 major banks are all competing for the same people.