We believe that 2006 is set to be the year of the candidate. We've seen the accountancy market gradually shift to reach a point where the sector is suffering from a severe shortage of qualified accountants.

Demand for quality, qualified staff at City firms has reached a peak, but recruiters are doing relatively little to deal with the reasons for this shortage.

In recent years, increasing pressure on business, coupled with more regulation and the lure of working overseas means a profession that was always in demand is now even more so.

The industry is witnessing young accounting professionals packing up and heading abroad in order to fast track their careers. Why? Because international financial services companies, multinationals from across the globe, and chartered accountancy firms are succeeding in luring the best of British talent to their organisations.

A recent survey of our candidates revealed that 50% actively searching for new jobs were looking for an improved work/life balance. This came only second to better company prospects. We all know that the accountancy sector in the UK, particularly in multinational City-based companies, is notorious for its long working hours with the promise of a lucrative partnership sometime in the future.

The ball is in the employers' court to make a difference. If accountancy firms start to realise that staff are inevitably more productive if they are able to apply a sensible work life balance, we'll be one step closer to capping the ever increasing shortage.

Contributor: Tim Connellan, Principal, Healy Hunt