Thriving Amidst the Accounting Talent Crunch: Strategies for Employers and Job Seekers

“The accounting profession is not going to die. It’s not going to wither on the vine. There is lots of talent out there, and there are options and hope.”

 

The accounting industry is facing a talent shortage, which is affecting both employers and job seekers. However, in a recent Accounting Talent Podcast discussing the reasons for the talent shortage, Jeff Phillips, the CEO of Padgett and Co-Founder of Accountingfly, sheds light on actionable insights to help both parties navigate this challenge and emerge stronger and more resilient. 

For Employers:

  1. Revamp Your Value Proposition: Yes, the AICPA and others are trying to improve the talent pipeline, but firms can’t afford to wait for this long-term fix. While the allure of accounting remains, it’s time to enhance your value proposition. This is critical and starts with paying market wages for talent and offering greater flexibility and work-from-home options. Highlight enticing perks such as flexible work arrangements and opportunities for professional growth to attract top-tier talent.
  2. Think Outside the Box: Differentiation is key in a fiercely competitive landscape. Offer unique incentives like paid sabbaticals and remote work options to win the battle for talent.
  3. Tap Into Alternative Talent Pools: With a dearth of available candidates, consider tapping into non-traditional talent pools such as remote workers, freelancers, and offshore talent to address staffing challenges. Accountingfly receives nearly 1,000 weekly applications for US-based remote accounting jobs, proving that candidates are out there and moving to remote work opportunities. 
  4. Focus on Solutions: Instead of fixating on the problem, channel your energy into seeking solutions. Whether it involves streamlining hiring processes or investing in employee development, take proactive steps to navigate the staffing shortage effectively.

For Job-Seekers:

  1. Flex Those Negotiation Muscles: In a market where talent is in high demand, leverage your position to negotiate favorable terms on salary, benefits, and work-life balance.
  2. Embrace Remote Work: Embrace the flexibility afforded by the remote work revolution. Explore opportunities beyond your local job market to widen your scope and discover exciting career prospects.
  3. Invest in Upskilling: Stay ahead of the curve by honing specialized skills such as data analytics and cybersecurity. Invest in ongoing education through online courses or pursue industry certifications to future-proof your career.
  4. Get Creative: Set yourself apart by showcasing your unique talents and technological prowess. Whether crafting a standout video resume or curating a portfolio of work samples, make sure to capture the attention of recruiters in a crowded job market.

 

In conclusion, whether you’re an employer grappling with staffing vacancies or a job-seeker on the hunt for your next opportunity, remember that the staffing shortage may present obstacles but also opens doors to unexpected possibilities. With a proactive mindset and a dash of creativity, you can confidently navigate this landscape and emerge victorious. Embrace change, adapt to the evolving landscape, and seize opportunities. 

Dig deeper into this topic with Jeff Phillips and Rob Brown in the Accounting Talent Podcast.

Working with Accountingfly

Employers: If you’re interested in a regular flow of pre-screened candidates with no hassle and no upfront cost, you can get more information and register for Always-On Recruiting on our website. We also offer dedicated searches and freelance/contractor placements and are generally a lot of fun to work with. Click here to schedule a call or get more information.

Job-Seekers: If you’re interested in remote accounting jobs, join our candidate network by submitting your resume to apply for an open position. If you qualify, a recruiter will reach out.

To view more hiring trends in accounting, check out this month’s Hiring Update.