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Business, Administration and Finance

Future Trends

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Competition for jobs is likely to get tougher as the challenges faced by the private sector (particularly in financial companies) and the public sector (traditionally a major employer of administration workers) look set to continue. These challenges mean that employers are operating with leaner budgets, making people redundant or having to rethink the way they do business. The challenges include:

  • mergers - which means major companies becoming ever bigger
  • takeovers
  • competition from emerging overseas markets
  • tighter regulations for businesses - which can cost money
  • new laws
  • public sector employers facing huge budget cuts

Provided the UK can remain competitive and provided businesses think it is worthwhile to stay here, call centre opportunities will probably be plentiful - increasingly, banking and other financial services are being conducted online or via the telephone.

Call centre job applications are up (in spite of reports of stressed staff regularly appearing in the media, especially amongst government workers who may not be used to such a high-pressurised atmosphere), and 1 in every 3 roles in the best performing centres are occupied by graduates, which means competition for jobs will remain high 

Staff in all sectors will increasingly need to offer a range of skills - for example not just secretarial skills but additional skills in customer care, or specialist skills such as languages or IT ability

Developing technologies are changing the way all businesses work and there is likely to be an increase in individuals working from home, rather than from shared offices

More women are set to enter the financial industries - at present, the administration and secretarial sector is dominated by females but, at the professional level in accountancy and insurance for instance, they are less visible. The number of female entrants, however, has been rising steadily over the last few years

Outsourcing parts of an organisation, such as secretarial services or human resources, to another, more specialist company (possibly overseas) is likely to continue. This means the number of 'in-house' opportunities in certain work areas will fall

Many companies are competing for the same market and selling similar products, which means staff in banks, insurance companies, building societies etc need ever stronger selling skills.

Insurance has always been important to the UK and a growing concern over the NHS, pensions, redundancy, etc may result in bigger profits for specialised products (e.g. health care insurance)

 

Read more about this job sector, including the skills that might be needed in the future, on the National Guidance Research Forum site