APSCo: Accounting and finance sector facing skills shortage
Demand for accounting and finance skills has risen immeasurably in the last quarter, according to the latest trends report from the Association of Professional Staffing companies (APSCo).
The study analyses vacancies andplacements across the UK professional staffing sector. In the last quarter, APSCo members report a 7.5 per cent increase in accounting and finance placements compared with this time last year with vacancies showing an average three per cent rise every month over the last three months.
According to online data, there was a 15 per cent year on year increase in finance and accounting vacancies advertised during July and August across the UK and according to recent research carried out by APSCo member Randstad, the UK faces a shortfall of 10,200 qualified accountants by 2050 due to skills shortages, an ageing workforce and restrictive migration policy.
Ann Swain, chief executive of APSCo, said: "The recent positive economic data - coupled with marked fall in unemployment is adding fuel to the growing skills shortages employers are experiencing.
"While this skills gap was surpressed early in the recession, it is now coming home to roost in the professional sector and our members are reporting shortages of suitably qualified professionals not only in the accounting and finance arena but also in sectors such as IT, engineering and marketing. The skills shortages have always been there but as the recovery gains pace and employers have more confidence to hire, we could be facing a real problem."