The Great Resignation is not over yet. According to the US Bureau of Labor Statistics, 4.5 million people quit their jobs in March 2022, while the Rosenberg Survey reports labor shortages affecting virtually all US accounting firms.
Furthermore, the accounting workforce is aging, highlighting the fact that fewer young people are choosing to enter this market. As a result, finding talent to fill vacant positions can be challenging.
These five tips may be able to help:
Tip No. 1 — Make attractive offers
Research what your competitors are offering job candidates and offer a little more. In addition to competing on salary, build a comprehensive package of 401K, parental leave, bonuses and other benefits. Making an offer is hard to say no to.
Tip No. 2 — Offer flexible work schedules
After working from home in the early 2020s, accounting professionals want that flexibility. Pew Research has found that 61% of adults working from home do so because they choose to, not because they cannot work from the office. Requiring that a new hire work from a desk in the office 40 hours per week may hurt your chances of a candidate accepting an offer.
Tip No. 3 — Support employees’ career goals
Candidates will be drawn to positions where they can follow their passions. Is a prospective hire interested in helping entrepreneurs grow startups into thriving enterprises or providing services to a specific market or niche? Give them the opportunity to pursue those goals. One way is to expand your business from providing compliance services to business advisory services that provide value to your clients year-round rather than only at tax time.
Tip No. 4 — Expand your recruiting team
Everyone on your staff can become a “recruiter,” helping to elevate your brand in the market and keep their eyes open for people who would complement your team. Also, leverage your association memberships and vendor relationships to get the word out about job openings and why your business is a great place to work.
Tip No. 5 — Transition to cloud accounting
Digital-native job candidates are more likely to accept a position that allows them to streamline their workflows with technology rather than rely on paper-based processes and spreadsheets. With cloud accounting, employees have easy access to the information they need to do their jobs and a platform for collaborating with colleagues and clients’ teams.
For a deeper dive into finding talent, download our ebook HERE.
Like what you're reading?
Subscribe to our FREE newsletter and we'll deliver content like this directly to your inbox.