KPMG & REC Report on Jobs July 2023
I have been gifted surveys for 'the north' and 'the south' this month if that's helpful to any readers.
Although the message is the same.
Inflation is high.
Redundancies are on the increase.
Fewer permanent placements.
Higher reliance on temps.
Economic uncertainty remains.
As Neil Carberry of the REC says, accountancy remains an industry with skills shortages in terms of attraction and retention. But why?
Well, it's complicated, as these things always are.
But this is what the team at Clarity has observed:
- People have been leaving the profession in recent months to pursue other passions.
- Mature workers have been retiring early or choosing to reduce their hours to balance work with outside pursuits or responsibilities.
- Where some businesses are willing to pay over the odds to attract and retain key accounts staff, others are not.
- Those accounts employees who have moved (or chosen to stay) for a greater salary than their true market value are now trapped in jobs they cannot afford to leave.
- There remains friction around home and remote working expectations.
- Many businesses continue to ignore feedback about what they need to become more attractive to the right candidates, even if expressly requested, only to complain when they cannot fill their roles.
- Businesses, including accountancy practices, are relaxing the need for formal qualifications or the desire to study over technical competency, cultural fit and work ethic. Those willing to relax in this area will inevitably have greater success filling their vacancies. And fewer studiers means fewer absences and greater billable hours.
- Accountancy firms are hiring school leavers and graduates in abundance, accepting that they need to grow their own. This will at least help to solve a future problem in the profession, even if it's not ideal now.
- Despite articles suggesting young people are not interested in a career in the profession because it's not 'sexy' enough, we're attracting lots of young people to our trainee roles which demonstrate otherwise. All is not lost ...
I'm always happy to be a source of help and advice, for free, whether it be around reviewing hiring processes or putting together a compelling offering to job seekers.
Contact us now for a free, no-obligation chat. Contact Clare here.
Clare Wight is the founder and Managing Director of Clarity Appointments, an independent recruitment specialist. She served as a Regional Director for The Employment Agents Movement, supporting other independent recruiters.
She remains an active member of Recconnect (formerly Members Only), a recruitment leadership network promoting high ethical standards, collaboration, diversity, equity and inclusion.
She believes business owners are more fulfilled and higher-performing when they provide emotional and professional business support to other business owners, even those they deem to be competitors. She does this actively, whilst challenging and updating her skills and knowledge of the recruitment sector, enabling her to offer the best advice to firms looking to make their next hire.