Hiding stealthily in the August issue of Accountancy is a story stating that Ernst & Young have created 200 new graduate jobs in India for UK tax compliance work over the next 2 years.
People will seize on this story as evidence of three entirely different trends:
1. The End is Nigh
Firms will continue to offshore increasingly added value services until only the UK jobs are account management and emptying the bins. Cash in your positive equity (if you’re lucky) and retire to a cheaper country.
2. Leitch was right
The UK is not providing enough graduates with the right skills- the education system is failing to provide enough graduates of correct calibre. The UK education system is not keeping pace with the reality of global competition.
3. Those Generation Y people need to face reality
The UK is simply not providing enough graduates with the right attitude to do dull tasks at start of their careers. Compare Generation Y: “This is so boring, I’ll never do that” to Generation X “work your way up”. Whilst it is by no means exciting to to file a Corporation Tax form, this is a fundamental building block for future knowledge and providing good client service.
One piece of evidence does not a theory make, so look out for other examples of offshoring in your firm or in the press to see which of these trends will come true.
