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Scarce skills refer to the shortage of people with the required attributes to fill positions available in the labour market.

These may be qualifications, specific skills and experience, a specific race or gender or a combination of these attributes. Scarce skills are normally expressed in terms of the occupations for which there are not enough candidates available.
Scarce skills in the financial services sector are mainly in the professional and technician and associated professional
occupations. Although these occupational categories are experiencing above average growth, the shortages are often related to very special skills sought by employers. The lack of qualified black people, especially in the higher level occupations and professional designations, is considered a serious problem.
 

The Sector Skills Plan of FASSET, 2005- 2010 indicated that shortages exist in four broad areas:

• accounting
• human resources management and development
• information technology
• economics & statistics

Shortages of accounting skills exist at all levels – from bookkeeper to registered auditor.

Information supplied by FASSET