The hunt for skilled labour

- UK finance workers feel graduates are unequipped to start work
- Graduates lack industry knowledge, communications skills and office etiquette

Research released today [5 December 2006] by specialist recruitment consultancy Robert Half Finance and Accounting reveals that a staggering 69 per cent of finance professionals believe that new accounting and finance graduates are not equipped with the necessary skills they require to start work.

The nationwide research among over 3,000 finance professionals in the UK goes on to reveal the perceived shortcomings of graduates:

1. Knowledge of the companyís industry (26 per cent)
2. Communication skills (22 per cent)
3. General office etiquette (21 per cent)
4. Basic literacy, spelling and numeric skills (19 per cent)
5. Knowledge of new financial regulations (eight per cent)
6. IT knowledge (six per cent)

David Jones, managing director of Robert Half Finance and Accounting, said:

ìOur latest survey clearly shows that finance workers are alarmed by the lack of necessary skills that graduates are equipped with. We highly recommend that employers adopt a structured training scheme to help new accounting and finance graduates settle into their role. To current students we also suggest they get as much office experience as possible before applying for jobs as this not only makes them far more appealing to employers but also allows the much smoother transition from student life to commencing a fulfilling career.î

The survey also reveals that 21 per cent of companies are regularly hiring international or overseas workers in order to enhance their internal skills capabilities. However when asked whether their companies should be doing this a staggering 94 per cent of finance workers felt that they should not.

David Jones added:

ìInternational workers bring with them rich experience, cultural diversity and varying skill sets, proving to be a valuable addition to any team. With intense scrutiny on bottom line profits and shrinking budgets, the opportunity to bolster workplace capabilities through individual hires can be an attractive proposition for employers.î