Nearly three quarters of Sydney Accountants say they are not concerned about automation despite government projections.
Automation is a hot topic in the world of work, with many experts predicting that it will replace millions of jobs in the coming years. However, Sydney Accounting professionals are mostly unconcerned about the impact of technology on their careers.
Sydney Accounting Recruitment Agency, Richard Lloyd Accounting Recruitment, surveyed over 2,400 Sydney Accountants over the past 12 months, looking into remuneration trends as well as other issues facing the sector, such as diversity, discrimination, and workplace satisfaction.
As part of this, the survey looked at automation, asking respondents whether they were concerned about the prospect of technology advancing to a point where it replaces people in their jobs.
The general consensus was that most Sydney Accounting professionals were unfazed by automation, with 72.86% stating they were not concerned, and 13.98% saying that they hadn’t thought about it.
“Considering the level of discourse around automation and AI, the strong response was surprising,” said Richard Lloyd co-founder, Geoff Balmer.
“What’s interesting is that amongst those who are concerned, there are a few clear trends around role level, function, and generation.”
The 13.16% of people who were concerned were mostly in Support roles, suggesting that those who carry out more transactional functions were more worried about being replaced by technology. In contrast, just 4.50% of those in Senior Management roles saw Automation as a problem. They also tended to be younger, with 18.10% of all Millennials being concerned about automation – significantly higher than the other generations.
“The trend towards those who are younger, or potentially at the start of their career, could speak to a number of things,” said Balmer.
“Those who are considered indispensable, or who are closer to the end of their careers, will naturally be less concerned about new trend; while those at the start are going to have to contend with these issues long-term.
“Then you’ve got the people who are younger, and typically more aware of the rate of change that new technology can bring, compared to those who are older and who have seen major changes come and go.
According to the Australian Committee for Economic Development, automation is expected to replace over five million jobs throughout Australia, and many experts predict that AI is central to the future of Accounting.
“It’s an interesting dynamic that employers will need to pay attention to as we see technology continue to develop,” said Balmer.
“The key thing for employers is to ensure that they have a strategy to manage this change, and that it is communicated clearly and transparently to their employees.”
Richard Lloyd Recruitment Pty Ltd
After identifying a gap in the market, Richard Lloyd Recruitment was formed in 2008 and set out to establish a recruitment agency where building long-term partnerships with both job seekers and employers was and would continue to be at the heart of what we do.
With our original team still in place, our specialist Sydney Accounting Recruiters have over 115 years of combined recruitment experience, providing access to one of the largest networks of accounting professionals in the region.
For us, every job brief and career goal is distinctive – therefore, we strive to always provide high quality, tailored recruitment solutions for job seekers and employers.
If you’re looking for a major competitive advantage when it comes to securing your next career move or sourcing Sydney’s top Accounting talent for your business, then we’re here to help.