It was recently announced that UK unemployment has hit the biggest low after 50 years. This means that job vacancies outnumbered those out of work for the first time on record. According to the official data released, the number of job vacancies rose to a high of 1.3 million in May 2022.
If you’re thinking of changing jobs or looking at a new career, there couldn’t be any time better than the present. It’s a jobseeker’s market, and especially those with skills in audit, risk and compliance.
The Challenges of Covid-19
Since Covid-19 hit the UK in March 2020, many employees have felt uncertain or worried about losing their jobs. Many have been furloughed and some have been made redundant. The majority of the population worked from home, balancing their working life and family, often experiencing the challenges that naturally come with this. Some employers have been under extreme pressure to keep their business afloat, making strategic decisions to keep revenue flowing, whilst trying to look after their team in the process. For many, it has been a very stressful period, perhaps resulting in employees re-evaluating their working life?
An Employer’s Perspective
Through the immense pressure of the pandemic, many businesses have changed how they operate, reshuffled their structure, even closed their offices and moved the company to homebased working to reduce overheads. While many businesses were supported with the furlough scheme, many found change inevitable depending on their industry and how the pandemic has impacted revenue. The repercussions on many economies were vast, combined with unpredictable and cautious decision-making, including the prolonged lockdowns and workplace challenges of social distancing. Many businesses have perhaps taken the opportunity to make meaningful change to company structure, capitalising under severe strain, potentially resulting in creating a silver lining.
Job Security for Employees
While most employees felt safe in their jobs and enjoyed the comfort and security of working from home, many faced uncertainty. The government furlough scheme protected many from losing their jobs and income, but depending on how businesses survived through the pandemic, the end of furlough meant some employees faced redundancy. During the time of furlough, employees have accepted extra tasks and increased workload due to other workers being furloughed. However, there have also been encouraging circumstances where employees have been rewarded for their support, loyalty and hard work through such a difficult time.
A Fresh Start?
The pandemic has perhaps in a sense had a positive impact for many workers. Many of us have re-evaluated life, work and even the place in which we live. While it shouldn’t take a pandemic to reconsider everything and make changes, most of us have had time and space to reassess our priorities and our happiness. Some may have decided they are not happy in their jobs, or may decide to re-train in another industry, others may choose to prioritise their job and happiness, relocating to an exciting place for a new career.
“Choose a job you love, and you will never have to work a day in your life.” Confucius
Throughout the pandemic, jobs within the audit, risk and compliance sectors have evidently been secure and will never diminish as there will always be a strong demand. Many other skills and talents may have faced uncertainties, but the resilience of audit, risk and compliance roles throughout industries will always be required. In fact, internal controls and governance functions have become all the more important with home working, and as businesses seek to deal with the macroeconomic challenges, these professionals are in more demand than ever.
Take the First Step…
If you feel like you’re on autopilot or just existing in your career, then it sounds like it’s time to make a change. The pandemic has taught us all that life is too short. If you’re not thriving in your current role, then it certainly sounds like you need to take the first step to reinvigorate your career. The sooner you decide to be open to new opportunities, the world becomes your oyster. Whatever industry you currently work in, remember your skills are transferrable and you will also develop new skills and talents wherever you go.
Reignite your passion in your career, speak to us at KPP Search. The opportunities are endless…
In the world of audit excellence, soft skills play a pivotal role alongside technical prowess, shaping the effectiveness and impact of auditors. While technical competencies are crucial for working on complex financial systems and regulatory frameworks, soft skills are equally indispensable for nurturing collaboration, communication, and critical thinking within audit teams.