Accounting Employers Combat Skills Shortage

Accounting employers step up efforts to combat skills shortage

Employers in the accounting sector are using increasingly proactive measures to protect their businesses against the skills shortage, a new snapshot of the accounting employment market has found.

In discussions with more than 20 employers, professional services specialist LINK Recruitment found nearly one in five managers are improving recruiting initiatives and outsourcing strategies to combat the skills shortage. However, nearly one quarter of businesses have no plan to combat the shortage or believe it will not affect their business despite the low unemployment rate

According to Brien Keegan, Business Manager for LINK Recruitment Auckland, addressing the skills shortage has become an economic imperative for New Zealand businesses regardless of industry, sector or number of employees.

“Our employment market is demonstrating a classic case of Economics 101, as demand exceeds supply,” Keegan says. “Many organisations report that a lack of quality staff is their key barrier to growth. Business leaders must start thinking laterally to attract the talented employees.”

A less conservative and more strategic approach to hiring employees is key, Keegan says.

“Employee attraction is no longer only a function of the HR department. Canny employers create positions for talented candidates, realising they will add value long-term, even if there isn’t a current vacancy. This move from ‘just in time’’ hiring can only continue as competition for the best professionals increases,” Keegan asserts.

In light of the difficulties associated with attracting staff, retention continues to be a top priority for most businesses. Half the employers LINK Recruitment spoke to are focusing on the role of their organisational culture in retaining staff. Many are also implementing work/life initiatives such as flexible work hours, job sharing and competitive compensation strategies.

“Retention is not just about providing a gym membership or a weekly bowl of fruit. Studies show many employees – especially Gen Y staff – focus on potential career progression within an organisation as well as its values.”

Furthermore, Keegan argues that many employers only learn of employees’ satisfaction when it is too late.

“Savvy employers conduct ‘stay interviews’ to identify and resolve issues that could potentially lead to a resignation.”

For more information on LINK Recruitment visit www.linkrecruitment.co.nz

About LINK Recruitment:
LINK Recruitment has more than 300 staff in eleven offices throughout New Zealand, Australia and the UK. LINK Recruitment helps clients and candidates attract the best talent and find the best career opportunities in: Accounting, Construction & Property, Financial Services, Human Resources, Legal, Office Support, Sales & Marketing, Technical & Operations and Technology. We earn the loyalty of clients and candidates time and again through a winning combination of national account management, local expertise and outstanding service delivery. For more information visit www.linkrecruitment.co.nz

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