Singapore is facing a skills shortage in the
finance and accounting sectors due to more staff finding
opportunities in others industries, research has found.

The research, carried out by ACCA Singapore
and recruitment company Robert Half, found 81% believe there is a
chronic or major shortage of accounting staff in Singapore.

The survey also looked at Hong Kong and New
Zealand but found the problem was not as acute as in Singapore.

Sixty percent believe a lack of development
opportunities is the major cause of the talent shortage and 52% say
employers do not provide enough incentives to hold onto staff.

Two thirds of respondents see the largest
talent drain in management and leadership levels. Most respondents
said management skills were in higher demand in the
middle-management arena than at the director level.

“The brain drain is resulting from both pull
and push factors, and companies need to seriously re-think their
talent management strategies in order to attract and retain good
people,” Robert Half managing director Tim Hird said.
The survey, Singapore Talent and Skills in Finance &
Accounting Survey 2010: Uncovering the Challenges
the views of 1
,600 finance professionals in Australia, Hong
Kong, New Zealand and Singapore.