The accounting talent crunch for employers might remain for the next couple of years.
According to ACCA’s Global Talent Trends Survey 2023, 44% of respondents expect to move to their next role in 12 months and 69% over the next two years.
More than 8000 professional accountants from 148 countries were asked in the survey about the concerns they held around work in the future as well as aspirations for their careers, said ACCA.
For employees surveyed, the top two worries are the impact of inflation on salaries and workplace stress, ACCA noted.
While employers are adapting and experimenting with new ways of working across the workforce, Jamie Lyon, Head of Skills, Sectors and Technology at ACCA said employers need to consider what attracts employees to their organisations to combat the accounting talent crunch.
“Career development and remuneration are the top two attraction factors to an organisation, yet they’re also the two areas which have most influence on employees’ decisions to leave,” he pointed out.
Survey highlights
- The inflation crisis continues to fuel wage pressures and creates retention challenges
- Hybrid working is a “work in progress”, with 57% of respondents citing they are working back in the office full time.
- Addressing burnout has to be a priority with 71% wanting more help from their organisations to manage their mental health.
- Technology is now seen to be empowering accountants to add value, but 42% suggest they feel overwhelmed by the sheer pace of change.
- Inclusion measures score well with 68% feeling their organizational culture is inclusive, but concerns particularly by younger respondents are expressed on social mobility
- Accountancy provides career security in turbulent times, with younger people prioritising career development, financial reward and money rather than broader ambitions to address wider social issues through the jobs they perform.
