The UK will be short of 10,200 qualified accountants by 2050, according to a new study by specialist recruiter Randstad Financial and Professional.
After analysing data on EU populations, the recruiter predicts a huge gap between employment demand and workforce supply due to an ageing workforce.
Tara Ricks, managing director of Randstad Financial and Professional, said: ‘Our projections are conservative but they still portray a worrying scenario for the country over the coming decades. With an aging population, we need to ensure we are open for business and welcoming talent from around the world to bolster our workforce. Unfortunately, with a stagnant economy and crippling work-related migration policy, the UK represents a much less attractive option for both domestic and overseas talent.’
This isn’t necessarily bad news for UK graduates working in accountancy, however, as demand for particular skill sets raises their value. Average salaries for accountants has increased 7.5% since 2006, outstripping directors and chief executives who have seen their average salaries increase 1.3% over the same period.
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