Jan 2022

Accounting Firms Urged to Consider Flexible Working Arrangement to Retain Staff

By: Odyssey General, Outsourcing
Tags: labour shortage, Post-COVID, Remote working

According to the Adapting to the New Normal report by Bastion Reputation and Bastion Insights, two in five employees surveyed want, more than anything, flexible working arrangements. Autonomy is currently more important for some than incentives such as higher pay to most Aussie professionals.

Big-four consultancy have already paved the way by offering remote working from overseas. The new policy aims to assist staff reuniting with family and friends who have been separated due to border closures without having to leave the job and the company.

These firms have been working with a number of the most commonly travelled to countries to investigate options for their staff while working abroad. There are stuff to resolve like working visa and taxation rules, but they are hoping to get this done as quickly as possible to prevent staff from resigning.

This move is expected to set the trend and be followed by many Australian accounting firms. Soon, it is going to be seen as a default and if flexible working arrangements are not included in your benefit package, you are falling behind in the war for talent and worse, facing high turnover rate within your own firm.

Given the current situation, accounting firms should start looking into outsourcing if haven’t done already. Outsourcing compliance work have all the benefits accounting firm owners desire at the moment minus the staffing headache: save staffing cost, clear backlogs, increase efficiency, and enhance flexibility to compete in the current challenging market. Additionally, instead of exhausting resources on the mundane work, firm owners can place the focus on the clients and more important work.

If you’d like to talk more about how Odyssey can assist your accounting firm in this challenging time, drop us a line.

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