About 60 per cent Indian accounts professionals agree that they are “overhwhelmed by the pace of change of technology impacting their job”. Only 29 per cent feel they are not overwhelmed by the same, as per a recent report. Another interesting revelation made by the report is that a whopping 78 per cent of the respondents said they will demand a pay hike in 2024. However, 57 per cent of the accounts professionals, globally, are sure that they will have to move out of their current organisation in order to get a better pay.
Accounts professionals in North America seem least affected by the pace at which technological change is affecting their job, with only 40 per cent admitting to being overwhelmed by the same. In the Middle East, 52 per cent were overwhelmed by the same, while in China, only 42 per cent were so. The figure for the UK was even lower, with only 22 per cent admitting that they are “overwhelmed by the pace of change of technology impacting their job”.
An encouraging 79 per cent of employers appear excited by the opportunities offered by aritificial intelligence (AI). They are sure AI will help finance professionals add more value. However, three out of five employees continue to be worried about the rapidity of change.
In the survey that covered about 10,000 professional accountants from across 157 nations, including China, India, the US and the UK, were queried about their concerns pertaining to work in the future as well as aspirations in terms of career. This annual survey of finance professionals, by the Association of Chartered Certified Accountants (ACCA) examined the primary workplace issues including hybrid approach to work, diversity, mental health, mobility and inflation/cost of living.
Surprisingly, maximum number of Indian accounts professionals, that is, 58 per cent, were sure that their next career move would take them out of the organisation. Only 21 per cent said their next career move would be internal. In South Asia, which includes India, 59 per cent of the professionals interviewed said their next career move would be external, while only 20 per cent said it would be internal. About 54 per cent of accounts workers in Britain said their next career move would be external, while 23 per cent said it would be internal. The figures for China were 47 per cent and 25 per cent, respectively. In the Middle East, 63 per cent of professional accountants admitted that their next career move would be external, while 20 per cent said it would be internal. About 47 per cent of Chinese accounts professionals are sure their next move will be external, while 25 per cent said their career move would be internal.
About 63 per cent of the respondents admitted to mental health taking a beating because of pressure at work. Almost 50 per cent feel their employers fail to prioritise the mental health of their employees.
While 75 per cent of accounts professionals prefer the hybrid mode of work, many employers would still prefer full-time work from office.
A whopping 82 per cent of the respondents admitted that a strong diversity and inclusion (D&I) culture would be a pull factor when it comes to choosing an employer. At the same time, a significant 44 per cent of employees feel their organisation focuses more on certain aspects of diversity than others.