The UK’s accounting and finance skills shortage
Following our research into the UK skills shortage, Totaljobs and Robert Walters have produced a series of industry-specific reports looking at how these issues affect some of the UK’s key industries.
With insight from almost 1,000 accounting and finance professionals, we gained an understanding of industry trends, skills shortages and how Brexit may alter the landscape of the industry. The outcome is a look at candidate expectations and methods of both refining and future-proofing the recruitment process.
Our focus for this report included: existing and future skills shortages in accounting and finance, upcoming challenges such as managing increasing workloads and creating a sustainable talent pipeline, as well as how the UK can compete on the global stage in the industry.
- 60% of employers expect to see at least a moderate skills shortage in accountancy and finance in 2018.
- 80% of CFOs expect their finance teams’ workloads to increase this year. 55% plan to increase the responsibilities of their current team to manage this; 52% will hire interim staff.
- Demand for financial analysts has increased by 10% this year, with over 38% of accounting and finance managers focusing on this in 2018.
- Professionals searching for new opportunities in accounting and finance note that salaries offered are not high enough (44%) and 40% being unable to find a company they want to work for due to factors such as reputation of the business and location.
- Over half of CFOs believe Brexit will widen the skills gap in the accounting and finance sector.