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The number of members from accounting practices expecting their business clients to increase employee numbers over the next three months has climbed consistently, according to a newly released survey from CPA Australia.
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Employee headcount set to rise in 2022
21 December 2021
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CPA Australia's latest survey, which has examined business and economic sentiment over the latter half of this year, has found for the month of December 40 per cent of members from accounting practices expect their business clients to increase employee numbers over the next three months.
By comparison, 26 per cent believed the same in October, while 13 per cent did in August.
Meanwhile, the CPA Australia survey found a third of respondents in business expect their employer to increase employee numbers in the next three months, slightly above the 31 per cent in October.
Sixteen per cent of respondents in business expect to decrease their employee numbers over the next three months, compared with 22 per cent in October.
Further, 36 per cent of respondents in business expect to increase the number of hours employees work (compared with 39 per cent in October), and 30 per cent expect to increase work outsourced to contractors (compared with 29 per cent in October).
Commenting on the findings, Dr Jane Rennie, general manager, external affairs at CPA Australia, said: “Across all industries and locations, labour and skills shortages are presenting problems for the profession. Practices are struggling to find the right people to fill vacancies. Some accounting practices are having to decline work or operate at reduced capacity because of this," she said.
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“Skills shortages and trouble attracting and retaining talent mean that practitioners’ workloads are likely to stay higher than usual for some time yet.
“Workplace shortages have the potential to slow the pace of Australia’s economic recovery. The reopening of international borders may help to address this issue. That said, there’s a global shortage of accounting professionals. Australia is in competition with other international markets to attract talent. That’s why we’re encouraging the government to actively promote Australia as a career and study destination.”
Dr Rennie flagged that businesses are craving a period of stability so they can take stock and plan for the future.
"Our message to governments is to dial back new reforms. Governments and regulators put a lot of changes on hold over the past 18 months. Now is not the time to play catch up with this backlog," she added.
“Accountants sit at the heart of business. They have access to deep insights about business performance. The survey results tell us they’re concerned about potential business challenges. We think the government should listen and act before these concerns become entrenched.”
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