Report finds accountancy firms lose 3.3m hours annually, equivalent to £65m in unrealised training investment, losing more time and money on ‘inefficient staff training’ than any other sector.

‘The lost hours report’, by compliance trainer Skillcast, analysed national employment data across 11 sectors to assess the extent to which staff training does not improve job performance. 

The report compared hours lost across different sectors, including hotels and restaurants which lost 2.8m hours equivalent to £55m, and wholesale and retail which lost 2.6m hours equal to £51.4m.

The report stated these ‘both significantly trail’ accounting firms in lost time and money.

As to why, Skillcast said: ‘The industry’s high regulatory requirements mean employees frequently repeat compliance training they may already be proficient in, limiting the time available for higher-value development such as leadership, technical expertise and innovation’. 

The