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 …

19

May 2022

Delay of 3-5 years before immigrants, international students and seasonal workers return to pre-pandemic levels?

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting, immigration, labour shortage, Offshoring, Outsourcing

Despite the Australian borders being open, there has been an unremarkable number of new immigrants flooding into Australia, with an indication that Australia might not be winning the competitive global war for talent. There are indications that there is a slowdown in offshore visa processing, with older and more experienced workers being discouraged and an out-of-date priority jobs list. There …

28

Apr 2022

The Great Resignation Continues, 44% of Australian Workers Are Looking for a New Job

By: Odyssey General, Outsourcing
Tags: Accounting Firms, labour shortage, Outsourcing, The Great Resignation

The Great Resignation, also known as the “Big Quit”, continues to be a challenge for Australian businesses in the near future. A recent survey from Elmo Software found that up to one-third of Australian employees believe that they will only stay with their current company for up to 18 months. Some alarming results from the survey: 44% of Australian workers …

07

Apr 2022

Balking at Pay Rise, Accounting Firm Leaders Are Seen Doing More Low-Level Work

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

Australian accounting firms have started to realise the impractical nature of raising pay to hire and retain staff. First, it is not financially beneficial, especially for mid-tier and small firms. When considering the hourly charge rate and the revenue generated, firms have begun to see that it is not profitable when paying a junior staff as high as $85k. Second, …