London, 22 February 2011 – More than one in three (35 per cent) ICAEW chartered accountants (ACAs) working in business express a likelihood of moving to a different employer in the next two years, according to the 2011 Career Benchmarking Survey from the Institute of Chartered Accountants of England and Wales (ICAEW) and Robert Half UK. Those anticipating changing employers are more likely to be in the earlier stages of their career (48%) and in middle management (40%) .
The fifth annual ICAEW/Robert Half Career Benchmarking Survey examines salary and remuneration, recruitment and life cycle trends affecting ACAs. Conducted by an independent research company in the fourth quarter of 2010, it includes responses from over 3,000 ACAs in business.
While most of those likely to change employer would choose to stay within the same industry, 39% of ACAs in government and agencies that are considering moving would not stay in the same sector, with the most popular alternative being charity, voluntary and not-for-profit organisations. Overall, more than one in four (27 per cent) ACAs who express some likelihood of changing employer would consider the banking and capital markets sector.
“The upturn has many professionals looking to advance their careers, whether it is changing employer or seeking promotion”, said Phil Sheridan, managing director for Robert Half UK. “Companies need to re-evaluate and amend their retention programmes or risk losing their business-critical employees to other opportunities.”
Nearly half (48 per cent) of ACAs feel that their careers have not been impacted by the recession and one in 10 believe the downturn has had a positive impact, suggesting that employers have taken action to ensure that their finance teams received increased responsibilities and professional development during the downturn. As a result, one in three (35% Per cent) ACAs are more confident in their career development prospects compared to one year ago and 37% per cent are equally confident.
“During one of the most challenging economic periods we’ve seen in the past 30 years, it is gratifying to see that ICAEW Chartered Accountants are playing a central role in driving business forward while motivating others to deliver the highest quality work”, said Michael Izza, Chief Executive, ICAEW. “Today’s marketplace consistently shows that these skilled candidates are such a precious commodity. Their ability to work at the heart of an organisation to help drive its success coupled with the international scope of the ACA qualification makes them the number one choice for business on every level.”