07

May 2024

The Australian Accounting Landscape Amidst Declining Graduates

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

The Australian accounting shortage is likely to continue due to a number of contributing factors: Below we cover these issues. Accountant shortage, knowledge gap a ‘grave concern’ for leaders Currently, there are 37,428 accounting services businesses in Australia. This figure is expected to grow by 2 per cent year on year. Concerningly, the number of accounting graduates has halved, resulting in a shortage of …

31

Mar 2023

Problems With The Offshore Labour Hire Model

By: Odyssey Outsourcing
Tags: australian accounting, labour shortage, Offshoring, Outsourcing

I spoke to the director of an Australian firm last week who had staff resource issues, and he’d indicated he had both bookkeepers and compliance staff in an offshore location. He’d had these staff for a couple of years and had trained them up in both SMSF and compliance (company, trust partnership, sole trader and individual returns). This firm had …

09

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: 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 …

17

Nov 2022

Australian accountants are on notice: workers at home are to be replaced by robots

By: Odyssey Uncategorised
Tags: artificial intelligence, Australian Accountant, Automation, labour shortage, Outsourcing, unemployment

It’s hard to imagine in this never ending climate of tax changes, but there’s a clear vision that some workers are going to be replaced by automation. While frustratingly many of us spend hours on the phone clicking through the many options to get us to a real human, or struggling with the Customs lines on arrival into Australia, it …

03

Nov 2022

Why a $50,000 pay rise probably won’t secure you an accounting resource

By: Odyssey Uncategorised
Tags: Australian Accountant, Australian compliance, labour shortage, offshore, Outsourcing, skilled migration

More recently there has been news articles of the high salary increases demanded and received by accountants and IT workers who are in short supply in the economy. There was an article mentioning that $50,000 was the starting point to attract a resource, but it might not be enough to seal the deal. There have been rumblings in the area …

20

Oct 2022

The Australian accounting shortage is likely to last 7-10 years

By: Odyssey Uncategorised
Tags: artificial intelligence, Australian Accountant, Automation, labour shortage, Outsourcing, robotics, visas

Australian accounting staff shortages are likely to exist for 5 plus years, and one pundit recently suggested a shortage stretching from 7-10 years. This staff shortage requires accountants to rethink what services they should offer, and which clients they should be servicing. With an ongoing shortage of talent in this space, paying to attract employees and retain the best ones …

06

Oct 2022

Are skilled workers the solution to Australia’s accounting shortage

By: Odyssey Uncategorised
Tags: Australian Accountant, labour shortage, offshore, Outsourcing, Post-COVID, visas

It seems the new Australian government is refocussing on restarting the permanent skilled workers, giving them top priority. However, reading further into this, the government is going to prioritise the processing of almost 60,000 permanent visa applications lodged by skilled workers based overseas, in a bid to rapidly reduce areas of dire shortage such as health, education and aged care. …

21

Jul 2022

Job vacancies at all-time high

By: Odyssey Uncategorised
Tags: Australian Accountant, job advertisements, labour shortage, offshore, Outsourcing, Post-COVID, visas

It’s a difficult time to be looking for more accounting resources. We’re seeing increased pressures on accounting wages domestically due to the three prong factors of limited skilled short term and long term immigration exacerbated by budget cuts in the home affairs department (responsible for processing skilled visas), reduction of international students in the Australian universities,  and high job vacancy …

23

Jun 2022

The worker shortage continues

The worker shortage continues

By: Odyssey General
Tags: Australian accountants, deglobalisation, labour shortage, Outsourcing, Post-COVID, skills shortages, worker

Australian accounting, finance and legal professional services staff are being offered pay rises of up to $40,000 (on a $90,000 salary) to stay in their current jobs, and up to $100,000 sign-on bonuses. Costs of hiring have more than doubled and employers are forced to wait an average six weeks to hire new employees, potentially delaying growth plans for some …