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The accounting profession in Australia is thriving. The number of accountants employed at the professional level has risen strongly over the past decade. This blog is where you find all the educational resources about the accounting industry and job market in Australia.

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JOB OUTLOOK IN AUSTRALIA 2016-2020

Posted on 28 September, 2016 at 11:25 Comments comments (1)

The Australian Jobs 2016 report provides predictions of projected employment to the year 2020.



What’s hot?

 

Over the next five years, it will be a good time to be working in a Community and Personal Services occupation such as a Child Carer, Aged/Disabled Carer, Waiter, Bar Attendant or Barista. This group is predicted to experience the largest jobs growth of 19%.

 

If those jobs don’t grab you, perhaps a Professional occupation is more to your liking with anticipated growth of 14.5%, including jobs like Nurse, Accountant, Teacher or Software/Application Programmer.


What’s not?

 

The Australian Jobs 2016 report says that employment growth for the the Clerical and Administrative Workers occupation group will only be 1.3% over the next five years. It is interesting to note that in 1990 this group made up 18% of Australia’s total employment and this reduced to 14% by 2015.

 

But according to Australian Jobs 2016, the standout not hot occupation group is Labourers. This occupation has experienced negative growth for the past five years and will continue to over the next five years (-1.3%).


What about geography?


NSW will continue its strong employment growth trajectory. In fact, it will speed up from 7.8% growth over the past five years to November 2015, to 9.8% growth projected to November 2020.


Predicted employment growth will continue to trend upwards in Victoria (6.4% in the five years to 2015 to be 8.8% between 2015 – 2020), Queensland (5% up to 7.9%), South Australia (0.3% to 5.1%), Tasmania (1.1% to 5.1%), ACT (0.7% to 7.2%). However, the projected employment in Western Australia will slow (11% to 6.9%) as will Northern Territory (9.6% to 7.4%).


Read more at: http://www.ogroup.com.au/job-outlook-australia-2016-2020/


Download The Australian Jobs 2016 report at https://docs.employment.gov.au/documents/australian-jobs-2015-publication

Hudson 2016 Salary Guides

Posted on 28 September, 2016 at 11:20 Comments comments (0)

The Hudson Salary Guides are a compilation of 2016 market salary information provided by Hudson consultants, clients, candidates and other sources across Australia.




Download 2016 Australia Salary Guides at http://au.hudson.com/salary-hub/salary-guides ;

Aussie accounting: Future proof or failure to launch?

Posted on 28 September, 2016 at 11:10 Comments comments (0)

There is enormous disagreement around whether enough Australians are being drawn in to accounting and whether there are enough, or too many, jobs in the pipeline.



Recruitment firm Hays, for example, released in late 2015 a report that said demand for accountants is so high that the industry has been future-proofed. Architects and salespeople were another two stars of the lucky list of in-demand career paths.

 

A safe career choice?

 

The Australian Financial Review reported that while accounting was once considered a safe career choice, the numbers now tell a different story. A research study sourcing its information from the Department of Education, Department of Employment, and Graduate Careers Australia said for each Australian studying accounting, there were now 2.5 foreigners studying accounting at Australian institutions.

 

Then there is the fact, from the same report, that the number of Australian students taking accounting has fallen by 20% from 2001 to 2012. And the number of international students finishing undergraduate accounting degrees rose by 500% in the same time period.


Read more at: https://www.icas.com/ca-today-news/aussie-accounting-future-proof-or-failure-to-launch

SMSF client growth not materialising

Posted on 28 September, 2016 at 10:55 Comments comments (0)

Research into the superannuation industry has shown financial planners’ expectations of how much SMSF client revenue would contribute to their practices over the past three years have not been met.





The Vanguard/Investment Trends “2016 Self Managed Super Fund Reports” revealed on average financial planners were deriving 19 per cent of their practice revenue from SMSF clients.

 

This is significantly below their expectations reflected in the same study three years ago when financial planners thought 31 per cent of their revenue would come from SMSF clients by 2016.


Read more at: http://www.smsmagazine.com.au/articles/smsf-client-growth-not-materialising#sthash.h1XuNSAz.dpuf

Engagement key to retaining clients

Posted on 28 September, 2016 at 10:50 Comments comments (0)

Speaking in a recent webinar hosted by netwealth, Investment Trends research director for wealth management Recep Peker said a survey conducted by the firm in June this year indicated 100,000 fewer consumers were using a financial planner compared to the same time last year.



The company put this down largely to a lack of communication between advisers and clients, with 500,000 of the 2.3 million Australians who use a financial planner having not heard from their adviser during the previous 12 months.


Additionally, 36 per cent of those who had stopped using a financial planner in the past year said it was because they no longer saw value for money in their service.


Read more at: http://www.financialobserver.com.au/articles/engagement-key-to-retaining-clients


More evidence of advice opportunity for accountants

Posted on 28 September, 2016 at 10:40 Comments comments (0)

Recent research from Investment Trends indicates a surge in demand for financial guidance and advice from Australian consumers that is not being addressed by professional advisers.




Head of research, wealth management at Investment Trends Recep Peker said the study found that 92 per cent of Australians are concerned about their financial situation — an increase from 82 per cent in 2013.


The study found the top barriers preventing people from seeking out advice were: perceptions of insufficient funds (27 per cent), high costs (20 per cent) and lack of time (19 per cent). Consumers expect to pay $780 for initial up-front advice, whereas the average cost of providing advice is $2,500.


Read more at: http://www.accountantsdaily.com.au/professional-development/9538-more-evidence-of-advice-opportunity-for-accountants

Accountants among most dateable professionals

Posted on 28 September, 2016 at 10:35 Comments comments (0)

Accountants are some of the most dateable professionals, just behind doctors and firefighters, according to a recent international survey conducted by Xero.



The survey found that in Australia and New Zealand, accountants were rated more desirable than artists and designers, while in the US and the UK they pipped personal trainers.

 

This is despite 78 per cent of global respondents describing those in the profession as stereotypical “bean counters” and “number crunchers”.

 

Xero head of accounting James Solomons said that while these stereotypes persist, they no longer reflect the accounting industry.


Read more at: http://www.accountantsdaily.com.au/news/9561-accountants-amongst-most-dateable-professionals


Infographic: BRW top 100 accounting firms benchmarked on digital marketing

Posted on 1 December, 2015 at 7:45 Comments comments (0)



  • Only 30% of the top 100 have a value proposition statement
  • 30% don't have a corporate blog
  • 20 days on average between posts
  • 11% are social share enabled
  • 48% use Twitter
  • 68% of the websites are not mobile responsive


Read more at: http://www.talkingbrand.com.au/blog/infographic-brw-top-100-accounting-firms-benchmarked

How Long Do Australian Workers Plan To Stay In Their Jobs?

Posted on 23 November, 2015 at 10:15 Comments comments (0)


A recent Newspoll carried out for The Australian has revealed some shocking, but then again, not so surprising figures.


First of all, let’s make it known that these figures are only based off 699 interviews with both full time and part time workers. That’s not a huge database to work off when you’re predicting the trends of the Australian working population.


57% of workers aged between 18-34 expected to stay in their jobs for less than five years. Surely this shouldn’t come as a shock. It is well known that Gen-Y like to move around and that they’re likely to not only change jobs but also change career paths multiple times in their life.


Overall, 48% said that were likely to stay in their jobs for less than 5 years, with 14% saying they would stay for less than a year.


- Read more at: https://au.oneshiftjobs.com/blog/how-long-do-australian-workers-plan-to-stay-in-their-jobs-502/

Almost 40 per cent of Australian jobs could be replaced by technology by 2025, report finds

Posted on 23 November, 2015 at 10:05 Comments comments (0)


Technology could make almost 40 per cent of Australian jobs, including highly skilled roles, redundant in 10 to 15 years, a new report has found.

While automation had already replaced many jobs in manufacturing, agriculture and mining, in the coming decades industries such as the health sector would also be impacted, it was found.

 

"Health is an especially significant area likely to be impacted, through automation in clinical data and predictive diagnostics (analysis roles), to robotics assisting in areas from surgery to nursing and from hospital logistics to pharmaceutical dispensary," the report said.

 

The report found that advances in technologies such as cloud computing, artificial intelligence and big data were largely driving the change.


With approximately a quarter of Australians employed in jobs involving driving, the patenting of a driverless car by Google, enabled by big data, could profoundly change the labour market, the report found.


- Read more at: http://www.abc.net.au/news/2015-06-16/technology-could-make-almost-40pc-of-jobs-redundant-report/6548560


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