Growth in the sector highlights a mismatch.
“It’s a broad sector that requires highly-skilled experts with a proven ability to add value to a firm’s clients.” says Nick Deligiannis
, Managing Director of Hays in Australia & New Zealand.
What is responsible for the growth in demand? Several, said Deligiannis: Rapid technological change, a need for strategic, technical and financial advice, a move to get closer to customers through the use of data and a desire from customers for full end-to-end services.
Cost-saving is another factor, he said. Businesses are looking for advice or services from those who are experts in the exact area where assistance is required.
“This is leading to the emergence of more specialised professional and business services companies who in turn require highly-skilled staff to deliver the necessary services and retain customers,” he said.
According to the Hays Quarterly Report for October to December, the following professional and business services experts are needed:
- Virtual CFOs to provide a new revenue stream for firms while simultaneously providing greater value to an accounting firm’s clients;
- Senior Tax/Business Services Accountants to work autonomously and supervise junior staff without being in a hurry to move into management or partnership;
- Digital IT experts;
- Big data and security experts;
- Digital Content Producers to produce, optimise and track content;
- Social media experts to help generate website traffic;
- Interior Designers to design as well as document;
- Project Architects to use their strong construction knowledge;
- Civil Designers to help with land development, highway and bridge projects;
- Licensed Surveyors;
- Civil Engineers to help in ongoing major project workloads in many consultancies;
- Retail and Commercial Leasing Specialists and Property Managers to match development in property;
- Financial Advisers and paraplanners to provide technical strength through their CFP credentials;
- Insurance Brokers to perform the basics right, and also to listen and communicate;
- Partners with a transferable practice for mid-tier and boutique legal firms;
- Corporate Commercial Lawyers at the three to five years’ PAE level; and
- Executive Assistants to support multiple partners or an entire executive team are needed.
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There is high demand for professional and business service workers but they come in short supply, according to the Hays Quarterly Report released Friday.