Looking for your next Head of Tax role, but the market seems to be at a standstill?
H1 has deemed to be difficult for UK Tax leaders to make a career move within the multinationals. This quarter, over 40 Heads of Tax in the UK are looking for a new challenge. So why is the market static? Two years ago, the tax market was in what appeared to be- a growth market. Tax risk and governance was and continues to be top of the agenda within corporate governance. Heavy investment to bolster tax teams seemed paramount to ensure that tax was no longer a back-office function. Through newly created positions, re-structuring, or minimizing spend on consultancy fees, Head of Tax opportunities seemed to be popping up at a healthy rate.
This year, the availability of tax leadership roles in the UK has slowed, leaving many wondering when will the tides turn? A simple game of musical chairs will be the answer, and we are waiting for the ball to drop. So, what can we do in the interim?
A couple of tips to be proactive in your search:
Contact a specialist tax recruiter who is mandated on senior hires and make sure they are aware of your career search criteria so when the market starts to shift you are top of mind.
Work with them to identify businesses that you would like them to reach out to on your behalf. Ensure that your Tax recruiter has relationships within those businesses at the C-suite level and are able to have a strategic conversation regarding their tax strategy and discuss your profile with purpose and integrity.
Continue to check in with your recruiter each month, given how candidate heavy the market it is, it is imperative to forge a meaningful relationship.
Finally, let your recruiter know if you have secured a new position via another channel. Any professional in our realm will continue to check-in and nurture the relationship for years to come.