The main reason people are eyeing up a new job is to work abroad while disappointing pay rises and increasing discontent over company culture were other important factors, whereas in the past better packages and more money were the main motivator to change jobs.

Accountancy bosses could be at risk of losing vital talent within their organisation as more than a third of accountants (34%) admitted they are actively looking for a new job and this figure rises to nearly two thirds (63%) within the next six months to a year. 

Nearly a third (30%) of respondents to the annual survey said they wanted to work abroad, a quarter hadn’t received a pay rise or promotion (24%) and so wanted to move on, while 16% simply did not like the company culture.

The main reason for moving abroad for work was to achieve better work life balance (28%) followed by better career progression (26%).  Others weary of the humdrum admitted they simply needed a change (16%).

But accountants are fairly conventional about where they want to go and work.

Western Europe (21%) is the top choice followed by the US and Canada at 15%, while interest in jobs in the Middle East  is up slightly at 13% from 10% last year.  When the research was first was published in 2010, the Middle East was cited as second most popular career destination (19%).

Despite huge growth in the Asia Pacific region, only 5% of respondents said they would look to move to the area, down a few percentage points on the 2014/15 results.

Simon Wright, operations director, CareersinAudit.com said: ‘Money and status are always going to feature high as to why accountants are looking for a new job.  Yet the latest research shows an interesting shift.

‘Work/life balance and better job prospects are perceived to be the biggest draw for heading to foreign climes. Employers may need to shake up working practices and make changes if they want to retain star employees. 

‘Depending on the structure and size of the company, bosses could consider offering staff the opportunity to work abroad on secondment either within the company or, perhaps through an associated network.

‘Another red-flag has been raised because nearly a fifth of accountants on the move are doing so because they don’t like the company culture. 

‘Bosses cannot be complacent and need to look at ways to create the best working environment – whether that is offering a structured career path to show how they can get promoted, flexible working hours or organising occasional social events for all the staff.  With more employees looking for a better work/life balance, they want to enjoy getting out of bed for work and the perks and non-financial benefits that come with the job.’