Inflation and risk of global economic downturn among the biggest worries for professionals in Pakistan
The world of work has gone through the biggest transformation in a generation and a new era has begun. In Pakistan 55%of finance professionals expect to move to roles in the next 12 months, and a further 26% over the next two years.
In one of the largest ever studies across the accountancy profession, ACCA’s (the Association of Chartered Certified Accountants) new annual Global Talent Trends Survey 2023 provides a unique and vital view of how people feel about working in the profession right now.
Over 8,000 professional accountants from 148 countries, including Pakistan, were asked about the concerns they held around work in the future as well as aspirations for their careers. The survey also assessed key workplace issues such as employee engagement, wellbeing, and attitudes to technology adoption.
The research highlights a talent crunch for employers as they struggle to retain staff with big career mobility ambitions and an eye on their next role. Meanwhile the biggest worries for employees in Pakistan are inflation, wellbeing, career opportunities and the risk of a global economic downturn.
At a time of significant workforce change, and a challenging global economic climate, the survey indicates that a career in accountancy remains a smart choice for those seeking long-term career prospects and possibilities to continually acquire new skills. The opportunity to acquire a professional qualification which affords cross-sectoral and international mobility further adds to the perception that choosing accountancy leads to a career with choices and flexibility.
Hybrid working is very much a ‘work in progress’ in Pakistan with 75% of respondents citing they are working back in the office full time. Inclusion measures score well in Pakistan with 70% feeling their organisation culture is inclusive, compared to a global average of 68%.
Jamie Lyon, Head of Skills, Sectors and Technology at ACCA said: ‘Employers are facing a potential talent crunch, adapting and experimenting with new ways of working across the workforce. Career development and remuneration are the top two attraction factors to an organisation, yet they’re also the two areas which have most influence on employees’ decisions to leave.’
Assad Hameed Khan, head of ACCA Pakistan said: ‘Attracting the next generation of talent to Pakistan’s accountancy profession is vital to a healthy economy. This survey ensures the voices of those studying and working in the profession are heard, and that the profession helps create a working environment where today’s professionals thrive and where tomorrow’s talent wants to be.’
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