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June 16, 2020

Majority of UK accountants concerned about finding new employment

By Joe Pickard

A worrying 80% of UK accounting and finance professionals feel stressed about trying to find a new role in the current climate, with one in four (23.8%) admitting that they have put their job search on hold due to the Covid-19 pandemic, according to a survey conducted by UK job board CV-Library.

Of those professionals who have put their job search on hold, 50% said they will not start looking again until lockdown is completely lifted, 30% said they will start searching again later in the year, and 10% admitted they will not try to find a new role in 2020 now.

Unsurprisingly, the survey found that those who are not currently working are the most stressed to find a new role, with 95% of people who are unemployed and 66.7% of people on furlough admitting that they feel this way. The figure dropped to 62.5% for people working full or part-time. 

Of the respondents in the accounting and finance industry who said they had not stopped their job search during the pandemic, only 6.3% managed to secure a new role. This is concerning when compared to other industries where the figure rose to 53.3% amongst candidates in the public sector, 42.9% in property, 37.5% in recruitment,  32% in manufacturing, an 24% in social care.

CV-Library founder and CEO Lee Biggins said: “With a new decade comes a desire for change and a lot of people had big intentions for 2020. Whether that was to find a new job, set-up a new business or embark on an exciting new career path. Sadly, the coronavirus pandemic has flipped the world on its head and forced people to abandon these plans, which is resulting in a lot of angst and uncertainty. 

 “For employers and recruiters, the fact that more people are wanting to change jobs is a massive positive, but we know that organisations are already making difficult decisions around their existing workforce. While job vacancies are starting to pick back up, opportunities have been limited over the past few months and this is naturally making job seekers feel nervous.”

Biggins continued: “Certain industries are undoubtedly going to be more affected than others throughout the pandemic and we’ve certainly seen more jobs being advertised within the public sector and social care. It’s a stressful time for hiring professionals and job seekers, so try to be as sensitive as you can when handling applications. Communication is going to be key in this critical stage.” 

 

 

 

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