Demand for trained professionals rising

The demand for accounting and finance professionals is rising as companies try to cut costs in the slowing economy.

According to statistics from Robert Half, an international recruiter, 54 per cent of Australian companies are having problems with attracting highly trained professionals, on par with the global trend of 56 per cent.

Nigel Barcham, the managing director of Robert Half Australia and New Zealand, said Australia is showing a growing need for finance and accounting professionals as firms try to control costs.

“Demand will continue to outpace supply, especially in highly sought specialties such as accounting, finance management and financial and business analysis roles,” Barcham said.

Almost a third of companies have responded to the shortage by increasing the use of temporary or project professionals.

Concerns about retaining accountants and financial advisers are also rising, with 62 per cent of companies concerned about losing their advisers to better job opportunities.

“On a global level, Australia is competing with demand from developing nations such as India and China. On a local level, pressure for enhanced financial reporting standards means both corporate and small businesses have increased their accounting needs. In addition, supply shortages from Australia’s education system means the pipeline is not matching business growth,” Barcham said.