ACCA’s new report – UK Talent Trends in Finance 2023 – focuses on the views of UK respondents to the ACCA global talent trends survey.
Over 600 individuals responded in the UK, from a broad range of sectors, with data split by sector and generation, enabling us to understand key UK workplace issues, such as employee engagement, well-being and attitudes to technology adoption.
Our UK report examines six key issues affecting the profession:
#1 The inflation crisis fuels wage pressures
- Rising prices are challenging employees and employers and putting pressure on wage demands and staff retention.
- The impact of inflation on wages is the highest-ranked work concern identified by UK respondents, with concern highest for accountants in the public and not-for-profit sectors.
#2 Hybrid working gains traction in the UK
- Only one-fifth of respondents in the UK identified as fully office-based, with the remaining 80% either adopting a hybrid approach to work or being fully remote, though there are generational differences to note. The UK is one of the most advanced regions in the world in terms of high levels of remote and hybrid working, with Scotland the global leader.
- 77% of respondents in the UK feel they are more productive when working remotely.
#3 Mobility is driving a possible talent crunch
- The accountancy workforce is ambitious and mobile. 36% of UK respondents expect to move to their next role within 12 months, rising to 58% within the next two years.
- Our data indicates that organisation size still matters for job hunters seeking to move to a different organisation or sector.
#4 Addressing burnout has to be a priority
- Over 54% of UK respondents report that their mental health suffers because of work pressures.
- 72% state that they would like a better work-life balance, with 41% stating they would like more support from their organisation in managing mental health.
#5 Technology is empowering, but concerns prevail
- The vast majority (90%) of respondents employed in the UK recognise that technology helps them add more value to their organisation and clients.
- But there are concerns about pace of change. 63% indicate that they would like more training in technology from their employer.
#6 Inclusivity measures score well, but social mobility lags
- Respondents see accountancy as a career that offers opportunity, flexibility and security, with the UK ranking as one of the most attractive destinations for global accountancy professionals.
- There is significant work to do on social mobility as 32% of respondents in the UK believe that a low socio-economic background is still a barrier to progression in their organisation.
Read the full report.
Your suggested next steps
- Share the report within your networks and organisations.
- The global talent trends survey will be re-rerun this autumn to compile next year’s report. Please respond to the next survey (and we are keen to hear views on any areas that could be covered in the next survey).
- We are looking for members to join future roundtables, which we will use to supplement the survey and dig deeper into the issues (likely to take place in late 2023/early 2024).
- Please join the member insights community.
For more information or to discuss any of the points in the report please contact: UKPolicy@accaglobal.com.