Employers warned that strong diversity and inclusion culture is critical as they face continuing talent crunch

In a comprehensive survey, ACCA's Global Talent Trends 2024 highlights a critical diversity and inclusion culture, AI's role in the profession, and mental health concerns in the workplace, with an in-depth look at South Asia's unique market dynamics.

This wake-up call for employers comes in the biggest global talent survey across the accountancy profession, ACCA’s (the Association of Chartered Certified Accountants) latest annual Global Talent Trends survey 2024 provides a unique and vital view of how people feel about their life at work.

Almost 10,000 professional accountants from 157 countries 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 hybrid working, diversity, mobility and mental health and the cost-of-living crisis.

According to the survey, a significant 73% of professionals believe that a robust diversity and inclusion culture is crucial in choosing an employer, signalling an urgent call for organisations to broaden their diversity initiatives beyond traditional dimensions to include aspects such as age and neurodiversity.

Furthermore, the survey reveals a mixed reception towards AI, with 78% of respondents acknowledging its potential to enhance the role of finance professionals by allowing them to add more value. However, there's a palpable concern about the rapid pace of technological change, with a notable demand for more training on technology (85%) to ensure professionals are well-equipped to leverage these advancements.

 

The mental well-being of employees also emerges as a critical concern, with 57% of respondents reporting that work pressures adversely affect their mental health. This underscores the necessity for employers to intensify their support and develop more effective well-being programs to alleviate work-related stress and anxiety.

 

Assad Hameed Khan, Head of ACCA Pakistan, comments, “The shortage of talent and cost of meeting pay rise demands, together with the many job opportunities available to professional accountants, mean that attracting and retaining talent presents a huge ongoing challenge for employers.

 

“As we navigate through these transformative times, businesses in Pakistan can differentiate themselves in a competitive market by cultivating an environment that values diversity, leverages technology for human advantage, and places employee well-being at the forefront of their agenda. By doing so, we not only enhance our global competitiveness but also ensure a resilient and future-ready finance profession."

 

ACCA Pakistan's focus on these key areas reflects a broader commitment to addressing the challenges and opportunities presented by the global talent trends. By aligning with the insights provided by the Global Talent Trends 2024 survey, ACCA Pakistan aims to contribute to the development of the finance profession towards a more inclusive, technologically adept, and mentally healthy future.