Jul 2021

Regionalisation and remote work has encouraged younger accounting staff to move out of cities: is your accounting firm ready?

By: Odyssey General, Outsourcing
Tags: COVID19, labour shortage

The ABC recently reported the shortage of service staff in some regional areas, with concerns about employee price rises in times of scarcity in these regional areas. 

The current employment market has been de-stabilised by Australian border controls preventing the free movement of international workers on temporary assignments, along with State border controls reducing the free flow of workers across borders temporarily. With a raft of state premiers having their own set of rules for lockdowns depending on the situations and covid strain, has led to a reluctance to accept temporary work in other states. Even the travel bubbles have closed down at times, leaving people stranded at less than ideal times such as school holidays.

The demand for Australian accountants to work in the larger capital cities has been partly exacerbated by the move by accounting folk from the larger cities in response to covid and spiralling house prices, and a return to work life balance. At the same time the Federal government has identified Australian accountants are now a skill in demand and has added accounting staff to the skilled visa program – this highlights the government anticipates or is expecting a real shortage of Australian accountants.

With the recent instability of firm arrival numbers due to the recent covid strains, it seems likely the number of flights into Australian will reduce, as less people will be allowed into the quarantine system. And the reduction in arrivals is expected to last for at least another year.

All of these factors indicate Australian accountants are likely to be in short supply in the next 1-2 years, and they are going to cost a lot more to attract and retain. It’s up to Australian accounting owners to push into a fully digital workplace in order to take advantage of remote workers – be they domestic or international.

If you’d like assistance with outsourcing over to Odyssey in Vietnam, or just like to chat about your options, then drop us a line.

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