Africa-Press – South-Africa. <\/strong><\/span>South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are dissatisfied with their jobs.<\/p>\nThis is feedback from JSE-listed companies such as Coronation, Momentum Metropolitan, and WBHO, as well as the \u2018Big Four\u2019 audit firms of Deloitte, EY, PwC, and KPMG.<\/p>\n
Coronation CEO Anton Pillay said one of the significant headwinds facing the asset management industry in the country is a lack of skilled workers.<\/p>\n
In the company\u2019s annual report released at the end of December, Pillay said that Coronation is currently engaged in a \u201ctalent war\u201d with other financial services providers.<\/p>\n
Chairperson of Coronation, Alexandra Watson, echoed Pillay\u2019s concerns. She was specifically concerned about a \u201cskills exodus\u201d from South Africa due to the country\u2019s stagnant economy and better opportunities elsewhere.<\/p>\n
In its annual report, Momentum Metropolitan warned that employing more people with the requisite skills is increasingly difficult, putting it at risk of failing to achieve transformation targets.<\/p>\n
\u201cSout Africa is facing an acute critical skills crisis, especially African, coloured and Indian skills, due to increased local and international competition and emigration,\u201d the company said.<\/p>\n
\u201cWe face the risk of skills shortages, particularly in critical skills such as actuarial, IT and technical talent. This has amplified in the evolving working environment.\u201d<\/p>\n
Talent retention, burnout and fatigue are all concerns, especially in specialist areas, and talent attraction remains challenging,\u201d Momentum said.<\/p>\n
Independent Regulatory Board for Auditors (Irba) CEO Imre Nagy warned of an auditors shortage in South Africa.<\/p>\n
The country\u2019s auditing profession faces a skills shortage due to low mathematics literacy, emigration, and negative industry perception.<\/p>\n
The industry has lost its lustre because of high entry requirements to study accounting, high tuition fees, low pay, high work stress, and negative publicity about the auditing profession.<\/p>\n
The skills shortage is exacerbated by low maths literacy in South Africa, which significantly reduces the number of students able to study accounting.<\/p>\n
In addition, several push-and-pull factors, such as political and socioeconomic instability, drive the emigration of highly skilled professionals.<\/p>\n
The increasing lack of skilled workers is not only a significant problem in South Africa\u2019s financial services sector, said WBHO chairman Louwtjie Nel.<\/p>\n
In the company\u2019s annual report, Nel said South Africa is facing a significant talent drain across multiple sectors due to the many challenges the country is facing, particularly rising crime and corruption.<\/p>\n
\u201cThere is an urgent need for South Africa to prioritise upholding the rule of law. The adverse effects of not doing so are becoming increasingly obvious,\u201d Nel said.<\/p>\n
\u201cCrime and corruption function as significant deterrents to business and investor confidence, demanding swift and decisive action.\u201d<\/p>\n
\u201cWe strongly urge the government to combat the growing tide of criminal extortion and corruption that is affecting South African society, particularly within the construction sector.\u201d<\/p>\n
One consequence of these challenges in South Africa is a significant talent drain across various sectors.<\/p>\n
Finance Minister Enoch Godongwana noted in a May Parliamentary session that 2,700 individuals earning over R500,000 annually and another 1,100 earning over R1 million have left the country.<\/p>\n
This departure equates to a loss of R1.3 billion in tax revenue for South Africa.<\/p>\n
Of greater concern for Nel is that many young professionals, including engineers and quantity surveyors vital to the construction industry, are departing in search of opportunities abroad.<\/p>\n
\u201cThis trend does not merely impact the construction sector. It has far-reaching implications for the national economy,\u201d Nel said.<\/p>\n
source:dailyinvestor<\/b><\/p>\n
For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Shaun Jacobs Africa-Press – South-Africa. South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are dissatisfied with their jobs. This is feedback from JSE-listed companies such as Coronation, Momentum Metropolitan, and WBHO, as well as the \u2018Big Four\u2019 audit firms of Deloitte, EY, PwC, and […]<\/p>\n","protected":false},"author":84,"featured_media":58882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[274,315,275],"class_list":["post-58883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\n
South Africa\u2019s talent war - South Africa<\/title>\n<meta name=\"description\" content=\"South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa\u2019s talent war\" \/>\n<meta property=\"og:description\" content=\"South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-03T05:56:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-03T05:59:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa\u2019s talent war\",\"datePublished\":\"2024-01-03T05:56:33+00:00\",\"dateModified\":\"2024-01-03T05:59:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war\"},\"wordCount\":592,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war\",\"name\":\"South Africa\u2019s talent war - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg\",\"datePublished\":\"2024-01-03T05:56:33+00:00\",\"dateModified\":\"2024-01-03T05:59:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg\",\"width\":1024,\"height\":576,\"caption\":\"South Africa\u2019s talent war\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South Africa\u2019s talent war\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"South Africa\u2019s talent war - South Africa","description":"South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war","og_locale":"en_US","og_type":"article","og_title":"South Africa\u2019s talent war","og_description":"South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-01-03T05:56:33+00:00","article_modified_time":"2024-01-03T05:59:56+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"South Africa\u2019s talent war","datePublished":"2024-01-03T05:56:33+00:00","dateModified":"2024-01-03T05:59:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war"},"wordCount":592,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg","keywords":["Africa Press","Africa Press-South-Africa","South-Africa"],"articleSection":["all news","files"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war","name":"South Africa\u2019s talent war - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg","datePublished":"2024-01-03T05:56:33+00:00","dateModified":"2024-01-03T05:59:56+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"South African companies are engaged in a war for talent and skilled workers as local professionals are emigrating or are ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1704248872.348096.jpg","width":1024,"height":576,"caption":"South Africa\u2019s talent war"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-talent-war#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"South Africa\u2019s talent war"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/58883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=58883"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/58883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/58882"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=58883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=58883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=58883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}