Lack of upskilling detrimental to accounting profession

Lack of upskilling detrimental to accounting profession

New research has highlighted a growing skills gap in the UK and how it is affecting the accounting profession.

The research by Go1, shows that over a quarter (28%) of accountants feel they haven’t been properly trained to do their job and that more a third (35%) of accountants agree that there aren’t enough training or learning opportunities provided to further their career.

Amid economic uncertainty in the UK, companies across the board are looking at ways to tighten their belts, to the detriment of their employees and their future prospects.

Survey findings show that over three quarters of adults are keen to continue upskilling, enabling them to progress in their careers and increase their overall employability whilst delivering better output for their employers. Despite this figure, over a third (34%) are being asked to do this in their own time, upsetting their work/life balance and putting greater pressure on their mental health.

In the case of accountants, almost half (45%) are willing to learn outside their working hours to improve their job performance, with a whopping further 69% open to learning on the go.

A parliamentary committee report revealed that businesses are prioritising recruitment to fill the skills gap, which is estimated to reach 4m in the next two years, instead of offering appropriate training and further learning for the 41m working age population. In fact, workers are so worried about the lack of opportunities to upskill that 78% are willing to learn whenever and wherever it takes, despite the balancing of other commitments such as family and friends.

With adult learning at a 23-year low according to the government, the role of businesses to provide learning and development opportunities has never been greater. In the most extreme circumstances, 11m adults (28% of the workforce) don’t feel they have been trained well enough to do the job they currently have, suggesting a stark skills gap lurking in plain sight for companies.

Chris Eigeland, CRO and co-founder of Go1, said: “On-the-job training is one of the most important aspects of any employment, not least for the output but also for the wellbeing that it provides employees. This study shows that Brits are crying out to be upskilled but too many businesses are overlooking this need in favour of recruitment rather than prioritising retention.

“With such a wealth of educational content available online and in person, there really is no better time to focus energy as an employer on empowering, upskilling and rewarding loyal employees by giving them the crucial training they so clearly want.”

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