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The High Demand of Accountancy in Covid-19

The High Demand of Accountancy in Covid-19

During the Covid-19 Pandemic, many youngsters and IT sector employees are suffering from a great job crisis. The deteriorating conditions are forcing the workers to handle the work from home through online connectivity or leaving the job due to the less demand for work. Indeed, the year 2020 has brought some terrible situations, especially for the private sector employees.

What study and researches are saying? 

A job survey has been done by the leading recruitment firm/organisation ‘Hays’ that says almost one in five workers are losing their jobs or facing trouble regarding their employment. But the profile of Accountancy is still in high demand.

According to the recent survey of Hays, the financial aspects like budgeting, data analytics, and accounting are quite high demand. These three jobs profiles are the most-trendy among the hiring agencies.

What do experts say? 

“We are currently observing slightly more hiring in some specific area. The hiring agencies are currently focusing on Accountancy. That is why we are noticing a slight upward in a graph of jobs”, Nick Deligiannis, the managing director of Hays (Australia and New Zealand).

He said, “The current situation and the Pandemic have changed everything. Every sector has been affected badly due to the current crisis. Most of the companies are now going towards the rebuilding phase and showing interest in the Accountancy profile for economic growth and management”.

“Approx. Forty percent of the firms are showing the cue to invest or fill the accountancy profile for 6 to 10 months to cover up the losses or manage the ratio of loss and success through smart strategies”, he added.

What skills are required now?

Undoubtedly, the Covid-19 has brought the entire private and government sector on the online platform overnight. Today, most meetings, assignment distribution, work submission, and conferences are happening online.

Zoom and Google-related online video conferencing applications are getting immense popularity and importance. And firms have fully recognised the necessity of digital literacy. That is why they now prefer the profiles which are well aware of the online world and digital process.

Now, let’s check out some areas in which Accountancy is now getting the immense popularity-

  • Taxation

The Accountant of a firm is responsible for planning taxation liabilities. During this tough time, companies are trying to rebuild and manage their economic structure and tax management areas where companies try to save a healthy amount.

  • Budgeting

It is quite apparent that this year commercial giants will try to make their plans that can benefits firms, and they are going to do some genuine strategy work that will manage their expenses and cost ratio. Accountants and management employees are mainly responsible for figuring out some great plans that can benefit the firms.

Conclusion:

These are the prominent reasons that suggest to us why we are observing the high surge in Accountancy jobs. If you are also planning to make a career in Accountancy or have some excellent Accountancy skills, then upcoming years will be great for you.

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