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The younger generations have been most affected by the pandemic with regards to employment prospects, as data shows that the under 25s have been hit the hardest.

Latest data from the Office of National Statistics (ONS) revealed that under 25s contributed to over 60% of the fall in the number of payroll employees since February 2020.

However, AMS warns that employers will end up feeling the longer term impact if they don’t invest in early careers now.

As Paul Modley, Global Talent Acquisition Director and Head of Diversity & Inclusion at AMS, explained:

“We’ve known for some time that young people have been extremely hard hit professionally by Covid-19, but these figures really do highlight just how difficult it has been. It’s been understandably tough for employers as budget restrictions and uncertainty gripped global markets, but for those firms with a UK base, this decline in employment and development opportunities for emerging talent will leave many companies playing catch-up with skills development later on.

Thinking of appointing Dolan Accountancy?

Give us a call on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

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“It is critically important that we invest in the future generation of the workforce as soon as possible, otherwise businesses and markets will be slow to recover and once again reach their full potential. The development of early talent is an important component to developing a sustainable workforce. In fact, we saw this play out after the 2008/9 financial crash, with employers reducing junior talent recruitment, only to be faced with skills shortages just a year later.

“Now is the time for employers to begin planning for real recovery – and the emerging generation will have a huge role to play in this. Businesses need to ensure they are investing in the skills development of the future, or we will see a significant shortage in the not-too-distant future.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £125 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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