Talent will out

Roger Trapp says the best young accountants are seizing the moment - and moving on

Recruitment consultants predict a "merry-go-round" of new accountants when another tranche qualifies at the end of this month. Harrison Willis says that 52 per cent of the young hopefuls it surveyed said they definitely intended to leave their jobs if they passed.

The recruitment consultancy points out that this is the highest proportion since the heady days of 1989, and says this is because the market is desperately short of bright young candidates. Graham Palfrey-Smith, managing director of the firm, says: "Because of the cutbacks in graduate recruitment in the early 1990s, there are just not enough people coming through the system.

"While the number of newly qualified ACAs on the move has been steadily increasing over the past three years, a degree of nervousness hanging over from the recession has still made many think twice about leaving the security of the firm they have trained with. However, in 1997 it looks like real confidence has finally returned and even the timid could be looking for a change of scenery."

Hays Accountancy Personnel, another recruitment consultancy, reports that salaries for newly qualifieds are rising by as much as 7.4 per cent in London. "Demand for the most talented candidates is outstripping supply and as a result salaries are rising by well over double or even triple the rate of inflation for some staff," it says.

Denis Waxman, the consultancy's managing director, adds that "employers are recognising the need to have the best staff on board and are prepared to pay premium rates for them".

But he warns that technical competence is no longer enough to gain such rewards. His firm claims that its survey supports the idea that the traditional image of the accountant as bean counter is set to disappear as non-technical skills, such as a personality and communication, rise in importance.

"One of the enduring lessons of the recession for many employers was the need to ensure real value for money from staff. It is no longer enough for accountants and other finance staff simply to be competent technically - if they have a management role they are expected to have the skills required to run their team efficiently and this includes effective communication skills," says Mr Waxman.

Independent Partners; Do you need financial advice on your investments, pension or insurance? Book a free consultation with an independent Financial Adviser at VouchedFor.co.uk

Finacial products from our partners
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    SThree: Talent Acquisition Consultant

    £22500 - £27000 per annum + OTE £45K: SThree: Since our inception in 1986, STh...

    Recruitment Genius: Experienced Financial Advisers and Paraplanners

    Negotiable: Recruitment Genius: This extremely successful and well-established...

    Guru Careers: FX Trader / Risk Manager

    Competitive with monthly bonus: Guru Careers: We are seeking an experienced FX...

    Guru Careers: Investment Writer / Stock Picker

    Competitive (Freelance) : Guru Careers: An Investment Writer / Stock Picker is...

    Day In a Page

    Lionel, Patti, Burt and The Who rock Glasto

    Lionel, Patti, Burt and The Who rock Glasto

    This was the year of 24-carat Golden Oldies
    Paris Fashion Week

    Paris Fashion Week

    Thom Browne's scarecrows offer a rare beacon in commercial offerings
    A year of the caliphate:

    Isis, a year of the caliphate

    Who can defeat the so-called 'Islamic State' – and how?
    Marks and Spencer: Can a new team of designers put the spark back into the high-street brand?

    Marks and Spencer

    Can a new team of designers put the spark back into the high-street brand?
    'We haven't invaded France': Italy's Prime Minister 'reclaims' Europe's highest peak

    'We haven't invaded France'

    Italy's Prime Minister 'reclaims' Europe's highest peak
    Isis in Kobani: Why we ignore the worst of the massacres

    Why do we ignore the worst of the massacres?

    The West’s determination not to offend its Sunni allies helps Isis and puts us all at risk, says Patrick Cockburn
    7/7 bombings 10 years on: Four emergency workers who saved lives recall the shocking day that 52 people were killed

    Remembering 7/7 ten years on

    Four emergency workers recall their memories of that day – and reveal how it's affected them ever since
    Humans: Are the scientists developing robots in danger of replicating the hit Channel 4 drama?

    They’re here to help

    We want robots to do our drudge work, and to look enough like us for comfort. But are the scientists developing artificial intelligence in danger of replicating the TV drama Humans?
    Time to lay these myths about the Deep South to rest

    Time to lay these myths about the Deep South to rest

    'Heritage' is a loaded word in the Dixie, but the Charleston killings show how dangerous it is to cling to a deadly past, says Rupert Cornwell
    What exactly does 'one' mean? Court of Appeal passes judgement on thorny mathematical issue

    What exactly does 'one' mean?

    Court of Appeal passes judgement on thorny mathematical issue
    E L James's book Grey is a reminder of how the phenomenon of the best-seller works

    Grey is a reminder of how the phenomenon of the best-seller works

    It's hard to understand why so many are buying it – but then best-selling was ever an inexact science, says DJ Taylor
    Behind the scenes of the world's most experimental science labs

    World's most experimental science labs

    The photographer Daniel Stier has spent four years gaining access to some of the world's most curious scientific experiments
    It's the stroke of champions - so why is the single-handed backhand on the way out?

    Single-handed backhand: on the way out?

    If today's young guns wish to elevate themselves to the heights of Sampras, Graf and Federer, it's time to fire up the most thrilling shot in tennis
    HMS Saracen: Meeting the last survivor of a submarine found 72 years after it was scuttled

    HMS Saracen

    Meeting the last survivor of a submarine found 72 years after it was scuttled
    7/7 bombings 10 years on: Martine Wright lost both legs in the attack – she explains how her experience since shows 'anything is possible'

    7/7 bombings 10 years on

    Martine Wright lost both legs in the attack – she explains how her experience since shows 'anything is possible'