• Register
Return to: Home > Comments > Support people to thrive

Support people to thrive

Chief Executive — Management Accounting, CIMA Andrew Harding, FCMA, CGMA offers a comment on getting the economy back on its feet

“This morning’s news that UK job losses rose at the fastest rate since records began, coupled with the biggest rise in unemployment in over a decade, show the devastating effects the pandemic has had on jobs and businesses. With further restrictions likely to be imposed over the winter months, we must brace ourselves for further disruption.

“Back in April, a survey suggested that a fifth of firms did not have enough cash to survive even the next four weeks. Our own research certainly confirmed that firms’ top lines have taken a knock during the pandemic with revenue for SMEs down 6.6% on average over the last six months. Many continue to anticipate challenges with a third of SMEs expecting to make some employees redundant in the next three months.

“Yet there is cause for optimism. SMEs have also been prompt to adapt and quickly tailored their business and operating models to the new, rapidly changing business environment with 37% of businesses asking their employees to take on new responsibilities and expand their skillset. In the face of the biggest economic hurdle in decades, having the right skills isn’t just “a nice to have” for businesses – it is essential for survival.

“If we are to get the economy back on its feet, remain competitive on the global scene and sustain growth, we need to better support all workers to reskill and upskill throughout their careers and encourage them to now start adapting their skillsets to the post-pandemic ways of working. This includes changing the Apprenticeship Levy to an Apprenticeship and Skills Levy for all workers to ensure businesses have the talent they need now and in the future; continuing to invest towards higher level apprenticeships to raise the skill levels of the UK workforce; and introducing a rebuttable right to retrain to empower workers to request further training and development.”

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


    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.