WHAT ARE YOUR THOUGHTS ON SOLUTIONS TO THE LACK OF ACCOUNTING TALENT?

The ACCA Singapore 2021 Virtual Conference SMP attendees shared their biggest challenges was the lack of available talent. In the Shaping the Future of Your Firm – AccTech and the Digital Firm discussion, panellists from Singapore, the UK and Australia agreed this was a challenge they recognised as well.

Contributing factors included:
❌Ageing population
❌Outside labour force not available, due to COVID restrictions
❌Low starting salary, relative to commercial roles
❌Decrease in numbers studying Accounting at University
❌Scaremongering that robots are taking over accounting roles

Possible solutions discussed included:
✔️Highlighting that salaries beyond the 5th year of employment can be higher than commercial roles
✔️Campaign to attract students to study accounting and make accounting ‘more hip’
✔️Education about the diverse and exciting opportunities for accountants in SMP’s (and robots are just doing the mundane work!)
✔️Implement programs to upskill accountants fast
✔️Actively promote the human element of your firm, that it is an enjoyable place to work.
✔️Offer ‘accounting career talks’ to talk at local educational facilities

Accounting Apps Newsletter Sign Up here

  • Hidden