In a time when everything, everywhere, is in a constant state of change, the accounting profession is no different. According to the Association of Chartered Certified Accountants‘ (ACCA) “Global Talent Trends Survey 2023,” the data shows a profession in workplace transition, grappling with a multitude of short-term challenges, as well as big longer-term questions.
From the legacy of the pandemic, which irrevocably changed our relationship with the workplace, to concern over what lies ahead economically, change is afoot.
In one of the largest ever studies across the accountancy profession, ACCA’s annual survey provides a unique and vital peek into what people feel about working in the profession right now. The survey queried more than 8,000 professional accountants from 148 countries, who were asked about the concerns they held around work in the future, as well as aspirations for their careers.
The survey also assessed key workplace issues, such as employee engagement, wellbeing and attitudes to technology adoption.
Here’s a look at the survey’s key themes:
1. The inflation crisis fuels wage pressures
Employees’ prime concern is the impact of inflation on wages, with wage demands creating headaches for employers.
2. Hybrid working is a ‘work in progress’
While hybrid working looks set to stay, over half say their employers don’t embrace it. Yet our data suggests those who do have happier employees. 87% of respondents say they’d like to work remotely at least one day in the future.
3. Addressing burnout has to be a priority
Stress levels are high, risking workforce burnout. 88% want a better work-life balance and 71% want more help from their organisations to manage their mental health.
4. Mobility driving a possible talent crunch
Employers face a high level of employee mobility, which is driving a possible talent crunch — 44% expect to move to their next role in 12 months, rising to 69% over the next two years.
5. Technology is empowering, but concerns prevail
Professionals know technology enhances their work and careers. But concerns prevail, as 42% say they are overwhelmed by the sheer pace of technological change.
6. Inclusion measures score well, but social mobility lags
Inclusion measures score well with 68% feeling their organisation culture was inclusive, but social mobility lags.
7. Accountancy provides career security in turbulent times
In changing times, accountancy is seen as a smart choice for career flexibility and prospects. The security, rewards and opportunities the profession provides remain highly attractive, with long-term career prospects cited as the number one benefit of a career in finance.
For more information, visit ACCA.
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