Mar 2023

Remote working seems to be here to stay during challenging talent acquisition times

By: Odyssey Outsourcing
Tags: Australian Accountant, labour shortage, Outsourcing

The AFR recently noted that Bosses no longer mind (much) if you work from home and this seems to be driven from a recent survey which noted the top concerns of senior executives included:

  1. Talent acquisition, retention and re/upskilling to meet a more digitised future
  2. Digital transformation and optimisation, and extracting organisational value from the investment
  3. Cybersecurity: dealing with cyber risks.

Employees working from home occupied a health 3rd position in the prior year’s survey, likely due to the unsettling times as a result of covid, coupled with fear of the unknown (FOTU) on remote working.

This year, the issue of remote working has fallen faster than a one-hit wonder on the top 10, and it’s now slipped down to 8th position.

Remote working still exists for many firms, but it has become a normal practice, so it’s no longer the unknown. Coupled with a somewhat return to normalcy in a post covid world, the massive transition into digital has allowed firms to adopt remote working as a normal part of business.

Continuing on with the top 8 issues worrying CEO’s:

  1. Dealing with evolving regulatory processes, reporting changes and impacts
  2. The need for greater agility and flexibility to meet opportunities and challenges
  3. Identifying & growing future market segments and/or innovation opportunities for growth
  4. Balancing short term versus long term value creation
  5. Challenges and benefits of working remotely

75% of the survey respondents noted talent acquisition as a primary concern, with this cascading into an inability of firms to re-focus into future proofing the firm, and ensuring longer term profitability.

With the continued upswing in remote working as a result of digitisation, there continues to be high demand for offshore skilled accounting resources for Australian firms.

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