Nov 2017

Disruption in the recruiting industry. Why Aussie accountants need to take notice

Disruption in the recruiting industry. Why Aussie accountants need to take notice

By: Odyssey General
Tags: Disruption, gig economy, graduates, recruiting

It seems more disruption is on the horizon, though of course some days it feels like it is changing faster than others.

We’ve already been told the accounting graduates of 2017 are not like they used to be, and there are plenty of stories about what is important to new graduates. Not only is it important to find out what engages accounting graduates, but finding out how these digital natives find work.

The reality is an appreciation is now mandatory of the expectation by both the employer and graduates that there is an open discussion on how to get the best out of each other in the time that the graduates /employees are working in the firm. These discussions will usually happen during the recruiting process.

And as part of the recruiting process, many sacrosanct rules are likely to be challenged by graduates. For instance, the nine-to-five concept is no longer there for graduates, and flexibility in the workplace is very important because life has changed.  Graduates aren’t afraid to tell you their life will be ruined if they have to turn up to work at a time that doesn’t suit them.

Ignoring the ad-hoc accounting gigs for the moment, we’ll have a look at models that are challenging traditional recruiting avenues, and even challenging traditional online recruiting platforms like www.seek.com.au.

This is not to say the gig economy isn’t growing, but it seems it’s not growing at an explosive growth rate. Recent reviews of sites such as www.airtasker.com.au show that while Australian tax jobs are on the rise on these platforms, there isn’t a deluge of work being done on these platforms.

The real disruption is happening in the industry specific / job specialty areas. Looking at the Australian job market, there are a couple of new companies that have moved into “project” area, though only time will tell if they are able to shake the dominance that recruitment agencies have in this space.

In the “temping“ market, or the gig/ “project” market as it is otherwise known, there are three prominent companies in this space. Expert360, OneShift and Sidekicker.

Sidekicker has high-profile clients like Uber, Airbnb and Sofitel.

Expert360 was (only) founded in July 2013, their main consultant base is made of highly qualified workers with experience in senior or executive positions in large and stable corporations or investment firms. However, they also have junior representatives from management consulting and investment firms.

This Aussie startup has been reported as aiming to disrupt the consulting industry, and the players with the most to lose are the mid-tier players such as Deloitte, PwC, KMPG and Ernst Young. Fast Forward to 2017, and Expert360 has just raised another US$10 million, and boast 15,000 experienced independent consultants.

For many Australian accountants who are considering moving out of Compliance work into consulting and advising (one of these days), they might find that this area has already been disrupted before they roll out these new service lines.

Disruption continues to be the new norm. Odyssey’s Outsourcing offering can help you continue to be flexible in your service offering.

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