Skills and pay mismatch could hamper firm stability and growth, warns IRIS

IRIS Software Group is urging firms to be extra vigilant with colleagues during busy season or risk firm stability and growth.

The new survey found a third of firm leaders are struggling to find people with the right skill set to fill vacant roles. Yet, the cost-of-living crisis is driving candidates to ask for higher salaries, with 32.5% of respondents saying inflated salary expectations is a major issue they’re facing when it comes to talent and retention.  

The mismatch between what firms can afford to pay in wages and the talent they need to hire is compelling accountancy professionals to embrace new ways of working, invest in teams and expand the use of technology.   

Jim Scott, Managing Director of Accountancy at IRIS Software Group comments, “Staffing is one of the biggest challenges facing accountants as we enter busy season.  

“To weather this economic uncertainty, hiring managers should consider offering pay rise alternatives to prospective employees, such as a cost-of-living bonus, payable in instalments over winter to help with increased household bills.  

“Business leaders and hiring managers should also work together to grow and highlight their business culture to become more attractive employers in an increasingly competitive market. All businesses should also seriously consider outsourcing, as this can give accountants more of their time back and unlock the power to add more value to their clients and firm.” 

By IRIS Software Group  

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