Are you thinking of joining the “Mass Resignation” bandwagon?

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15 Dec 2021

With a large number of accountancy career opportunities in tax, audit, corporate finance, and corporate recovery on the market with firms of all sizes, it is not surprising that some accountants are part of the “mass resignation” trend.

The “Mass Resignation” – people resigning from their jobs without a new role to go.

We are seeing a candidate-driven market, much like other professions and sectors, providing an ideal scenario to pick and choose your next career move. 

Who would have thought there would be a mass movement to candidates resigning without a new job to go to?

Career Progession

As a result of the pandemic and changing working practices, we have seen cases where candidates' career progression has been stunted or delayed despite firm assurances from firms. 

Promotions may not have taken place as it has been a hectic period for all chartered accountants assisting clients during the pandemic, it hasn't allowed for the opportunity to assess and review teams. This has obviously had a knock-on effect on promotions. 

As we know promotions aren't guaranteed but some have been promised or they were in line for a promotion twice. This leads to some candidates feeling undermined. 

Time to reflect 

As a result of working from home for a long period of time, although recently you may have been spending more time in the office, it has allowed you the time to really reflect on your current position and what you desire from a career. 

With the re-introduction of office work and blending time between home, it has reminded people what it used to be like commuting and the hustle and bustle of office life. 

As a result, this could have gone one of two ways. You have either missed predominantly being in the office or you prefer the freedom of remote working. This has then led to considering what else is out there and to consider leaving your role immediately.

Burnout and Long Hours 

Working longer hours than the normal long hours has taken its toll on people, it has been relentless during the past 18 months or so that accountants are burning out. 

As much as home working may have improved work/life balance, in many cases, it has gone the other way. The time spent commuting is now being swallowed up as additional hours at the desk. 

If you have got the stage where you feel worn down, it is an easy decision to make to hand in your notice without a job to go immediately. With a buoyant market, there isn't a shortage of opportunities and firms to look at and consider if they are the right fit.

Immediately available for roles

As a result of the current trend of resignations, candidates are immediately available or at the very least, not too far from finishing with their current firm.

This is mutually beneficial for both you and prospective employers as it speeds up the process and possibly, makes a candidate slightly more attractive than someone who hasn't handed their notice in. 

Assessing the Job Markets

It is paramount that you take the time to assess and review the market and services lines you may be considering. 

With such a demand for high-quality talent from accountants, it would be very easy for someone to jump at the first attractive offer. 

Remembering the reasons why you are leaving a role or firm should be at the forefront of your mind when weighing up an opportunity and firm. 

We can help you map out the market and identify the most appropriate opportunities that meet both your professional and personal requirements with a view towards your long-term career goals. 

Tread carefully when it comes to Buy Backs

With the huge demand for talent, firms are as keen to retain their staff as much as recruit new individuals, therefore buybacks have been more common than ever in recent months. 

It is important to remember, it has taken you to hand in your notice for your firm to offer you a bonus, increase salary or a promotion to stay. Ask yourself the question - why wasn't this forthcoming previously if I am so valuable?

It is easy to be swayed with these types of offers. So we encourage to you carefully consider such tactics and remember what has lead you to want to leave? 

The issues and irritations you have won't go away. 

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