25

Nov 2021

Australia “Great Resignation” Impacting Australian Accounting Firms

By: Odyssey General
Tags: labour shortage, Post-COVID

More recently we’ve been approached by a few accounting firms who have commented they’ve lost staff recently, and are unable to find suitable staff replacements. Some of these firms believe this is only temporary, which has shown Odyssey’s ad-hoc business model an appropriate model for these firms to deploy in the short term. While there is some online discussion as …

11

Nov 2021

After COVID, Australia Will be Short of Accountants for…

By: Odyssey General, Outsourcing
Tags: labour shortage, Post-COVID

The AFR recently noted that NSW government advice to new Premier Dominic Perrottet notes Australia needs an ‘explosive’ surge of 2 million migrants over the next 5 years, which equates to 400,000 per year. Economic recovery and post-pandemic growth can only be achieved through an immigration program similar to Australia’s post-World War II approach would ensure Australia would benefit from …

23

Sep 2021

Australian CEO’s looking offshore to resolve skills shortages

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

It was recently reporting that the CEO’s of Australia’s biggest companies are struggling to hire IT specialists, engineers and teachers because of locked borders and skills shortages. At the same time, the 260,000 shortfall in overseas students who have failed to arrive due to locked borders has led to falls in rentals for student accommodation of up to 25 percent …

19

Aug 2021

Australian compliance salaries rising by over 20% due to shortages of skilled accountants

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

The AFR recently released the starting recruiting salary for a university graduate at $65-68k. What is interesting about this number is the prior week we’d been talking to a partner of a 3 partner firm down in Melbourne, who said there was a general problem with finding staff during these coronavirus times. That is, people are less likely to move …

05

Aug 2021

Border closure equals higher labour costs. What you need to do now.

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

Closed borders could be an ongoing issue and this is likely to drive up wages. At the same time, many companies are moving quickly to implement technology to reduce costs and reliance on high cost labour. The RBA recently indicated the border could remain closed for up to two years, which means changes to labour shortages won’t be changing for …

29

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 …

15

Jul 2021

Australia, the race to digital for Australian compliance accounting firm owners is now critical.

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

More recent news with Australia’s actions on Coronavirus notes the vaccination rates continue to be of concern, that Australia may turn into a hermit kingdom, and the powers in Authority have shown they are comfortable putting nearly half of Australia into lockdown. In the spate of recent lockdowns, there has also been recent news articles at the movement of Australians …

24

Jun 2021

Labour Shortage: COVID to impact labour for up to 5 years: Future and Solutions for Accounting Firm Owners

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

Advertising for jobs has been made more complex not only due to digitisation of the advertising landscape, but also due to mobility issues of employees due to border lockdowns (both state and federal). It’s been noted one in five Australian businesses are facing a labour resource issue. Labour shortage has been over the news lately with some industries experiencing an …

17

Jun 2021

Blog double trouble for Australian accountants

By: Odyssey General, Outsourcing
Tags: Australian accountants, Foreign Workers, labour shortage, Outsourcing

CPA Australia recently released an article on Australia’s reduction in migration numbers, commenting the effects are likely to last for years to come. For Australian accounting firm owners, there are going to be 3 main impacts: Many Australian businesses are going to struggle with finding Australian based workers, with a likelihood of wages growth going to cut down margins in …