Good time to be an accounting technician?

aatfree

There was a piece in the latest magazine (AAT) by the Editor I believe saying it was a great time to be an accounting technician because of the current climate.

Do you think this is still the case? What with the recent closure of one very large bank and signs that isn't going to be the last - there's suddenly an increase in the amount of people with financial skills looking for work.

Baggybooks

I would agree with you. I think a lot of small businesses will need to cut costs - and employing bookkeepers or advanced accounts personnel may be on their hit lists.

Insolvency practice is possibly a growth area.

welshwizard

Surely those with the skills to identify the areas for cost savings will be safer than the 'blue collar' worker?

farmergiles

I think there will now be a lot more part time jobs and we may have to work for 2 or more bosses to get a decent income. or set up on our own! Problem is that the bread and butter work is starting to disappear...Subbies! I have a few plastering companies desperately trying to find other sources of income and I can see a lot of insolvencies/bankruptcies coming up over the next 6 months!

Baggybooks

welshwizard wrote: »

Surely those with the skills to identify the areas for cost savings will be safer than the 'blue collar' worker?

Unfortunately, a lot of bosses see their accounts staff as not contributing to the turnover of the business.

Technically they're right. However, see how the turnover is slashed when there's no-one to pay the wages, suppliers or even the bosses!

Overheads are a drain on a struggling business and admin staff are the first to feel the bite. Employees with all-round skills will be in demand - flexibility rather than 'not in my job description' should be promoted.

:crying:

Poodle

Baggybooks wrote: »

However, see how the turnover is slashed when there's no-one to pay the wages, suppliers or even the bosses!

I think that you are correct with employees, but some one will have to do this work and that is where the outsourcing market may well see an increase. But even there prices may well be driven down with competition.

Poodle

Baggybooks

During the last recession, small firms had to make admin staff redundant and only kept the ones who could do the most - accounts, payroll, admin etc as the complete package.

Outsourcing wasn't so common then - and I think a firm would probably prefer to keep a key member of staff to fulfill those roles, rather than pay another business to do it.

For the lucky ones that kept their jobs, it was an opportunity to actually progress and develop skills in areas they were less familar with.

If you're unfamiliar with a particular aspect of a business, brush up on it now. Look at ways of expanding your knowledge base - and remain positive. Good accounts staff are always in demand - if they're prepared to adapt. And it will be a competitive market, of course!