• Register
Return to: Home > News > Advisory > Majority of UK accountants concerned about finding new employment

Majority of UK accountants concerned about finding new employment

A worrying 80% of UK accounting and finance professionals feel stressed about trying to find a new role in the current climate, with one in four (23.8%) admitting that they have put their job search on hold due to the Covid-19 pandemic, according to a survey conducted by UK job board CV-Library.

Of those professionals who have put their job search on hold, 50% said they will not start looking again until lockdown is completely lifted, 30% said they will start searching again later in the year, and 10% admitted they will not try to find a new role in 2020 now.

Unsurprisingly, the survey found that those who are not currently working are the most stressed to find a new role, with 95% of people who are unemployed and 66.7% of people on furlough admitting that they feel this way. The figure dropped to 62.5% for people working full or part-time. 

Of the respondents in the accounting and finance industry who said they had not stopped their job search during the pandemic, only 6.3% managed to secure a new role. This is concerning when compared to other industries where the figure rose to 53.3% amongst candidates in the public sector, 42.9% in property, 37.5% in recruitment,  32% in manufacturing, an 24% in social care.

CV-Library founder and CEO Lee Biggins said: “With a new decade comes a desire for change and a lot of people had big intentions for 2020. Whether that was to find a new job, set-up a new business or embark on an exciting new career path. Sadly, the coronavirus pandemic has flipped the world on its head and forced people to abandon these plans, which is resulting in a lot of angst and uncertainty. 

 “For employers and recruiters, the fact that more people are wanting to change jobs is a massive positive, but we know that organisations are already making difficult decisions around their existing workforce. While job vacancies are starting to pick back up, opportunities have been limited over the past few months and this is naturally making job seekers feel nervous.”

Biggins continued: “Certain industries are undoubtedly going to be more affected than others throughout the pandemic and we’ve certainly seen more jobs being advertised within the public sector and social care. It’s a stressful time for hiring professionals and job seekers, so try to be as sensitive as you can when handling applications. Communication is going to be key in this critical stage.” 

 

 

 

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    CORONAVIRUS TIMELINE: REACTIONS FROM THE ACCOUNTANCY PROFESSION

    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.