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UK Accountancy Faces Turbulent Future as Recession Looms and Skills Gap Widens

The accountancy recruitment market has been active and buoyant in recent years, due to a number of factors including the ongoing skills shortage, the growth of the gig economy, and the increasing demand for accounting services from businesses of all sizes. However, the economic headwinds facing the UK are starting to have an impact on the market, with wage growth slowing and some organisations beginning to tighten their belts. Nevertheless, experts are confident that neither a halt on recruitment nor widespread redundancies are on the cards. In the meantime, accountants who are looking for a new job are in a strong position to negotiate a good salary and benefits package.

Here are some of the key takeaways from the article:

  • The accountancy recruitment market is still active, but there are signs that it may be starting to cool.
  • Wage growth is slowing, and some organisations are beginning to tighten their belts.
  • Nevertheless, experts are confident that neither a halt on recruitment nor widespread redundancies are on the cards.
  • Accountants who are looking for a new job are in a strong position to negotiate a good salary and benefits package.

If you are an accountant who is looking for a new job, now is a good time to be on the market. The demand for accountants is still strong, and you are in a good position to negotiate a good salary and benefits package. However, it is important to be aware of the economic headwinds facing the UK, and to be prepared to negotiate your salary and benefits in light of these factors.

Published on May 4th 2023. Read the full article on ICAEW

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