According to the Adapting to the New Normal report by Bastion Reputation and Bastion Insights, two in five employees surveyed want, more than anything, flexible working arrangements. Autonomy is currently more important for some than incentives such as higher pay to most Aussie professionals. Big-four consultancy have already paved the way by offering remote working from overseas. The new policy …
Accounting Firm Owners to Fight Labour Shortage and Wage Growth
Despite earlier pressures and projections, wage growth in Australia has remained moderate, according to the RBA (Reserve Bank of Australia). To be more explicit, wage growth in the public sector was slow. Though there were some good signs in the private sector, the growth had only improved to about its pre-pandemic level. This has a direct impact on three parties. …
Post-COVID: Work From Home Is the New Normal
The pandemic came and it has drastically changed the way we live our professional lives. Before 2019, work from home was often seen as a perk by many companies. Now, only 2 years later, hybrid working model, a combination between on-site and off-site, has become the norm for most Australian firms. According to a survey by Deloitte, two thirds of …
Borders lifted but accounting firm owners are not happy
During June this year, accountants along with other occupations were added to the Priority Migration Skilled Occupation List (PMSOL). This inclusion indicates there is insufficient accountants in the Australian market, and the forecast new accountants will be insufficient in the near term i.e. new accountants from universities or other related industries such as bookkeeping. The Australian accounting labour shortage has …
Australia “Great Resignation” Impacting Australian Accounting Firms
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 …
Australian Accountants Downsizing Space in Their Offices
Walking along the street the other day I overheard a discussion, which revolved around a head office surrendering their space downtown, and the staff being offered flexible shared workspaces by a third party provider. As the discussion progressed, the head office employee mentioned there was still a shift change needed by the owners of commercial space, who were still pursuing …
After COVID, Australia Will be Short of Accountants for…
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 …
Travel Over the Next 12 Months for Australian Accountants
Travel, and overseas travel, is on many people’s list. Looking to the announcement that Australians may shortly be able to travel overseas again, we’re seeing more articles on travelling to many of our favourite destinations such as Bali. At the same time, many flights are already booked with Australians looking to head overseas for the Christmas 2021 break. Flights to …
The 8 immediate issues Australian accountants need to resolve before June 2022
Over the next 6-12 months, there will be eight major impacts on the Australian economy, all of which will affect accounting companies and their clients in Australia. These are: The Covid-19 vaccine rollouts, which include the Australian state and federal governments response to the vaccination percentages and the opening of state and federal borders Added to the above vaccine rollouts, …
Your local Accountant will soon be reopening his office
The Property Council of Australia released the results of their occupancy survey which highlighted the impact of extended lockdowns on Australia’s largest CBD’s. Sydney’s CBD occupancy was 4% of pre-covid levels, and Melbourne stood at 7%, an indication of the strict nature of the lockdown in these cities. Canberra recorded a decline from 73% to just 8% of pre-COVID levels. …