Employers risk ‘mass exodus’ of accountants as jobs market shows signs of upturn

Although over three-quarters of finance staff are still concerned about job security, 26% will definitely move as soon as the jobs market picks up and a further 29% are considering moving, according to new research.

The survey of over 300 accountants across the UK by financial recruitment specialist, Parkside, found that 45% of those ready to move on in their careers blamed the effects of the recession for their decision. Nearly a third of all respondents rated the way their employers had treated them during the downturn as either ‘poor’ or very poor’. And a similar percentage complained about a lack of effective internal communication about the way the financial crisis was impacting upon the business.

“Senior management here seem to think that the best way to deal with bad news is just to cover it up,” stated one interviewee, whilst another said that the response of the board at her company was similar to that of a “rabbit in a car headlight.”

“Alongside this survey we also undertook a study of 100 companies and practices which showed that less than a fifth were planning any more redundancies this year whilst over 80% were expecting a significant upturn in business in 2010,” says Parkside’s managing director, Jennie Emerson. “But it looks as if employee perception of how companies managed their way through the period of downturn could mean a mass exodus of people as soon as things start to pick up. It’s absolutely vital that companies really engage with their people now and ensure that lines of communication remain open if they are to avoid this.”


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