District Partners’ Post

With fewer young professionals choosing careers in public accounting, it's time for a strategic shift. ↪ Our CEO Tim Brackney recently addressed this crisis head-on in his article for CFO.com, "4 Ways to Save the CPA." Tim offers a roadmap for revitalizing the profession by reinventing how firms can attract the next generation of talent through innovative ways such as: 💰 Creative & competitive comp plans 🧠 Continuous learning & career development 💻 Investing in cutting-edge technologies (providing new tools for efficiency while becoming a magnet for top talent) ⏰ The urgency for change is here - and the time is now - for the accounting industry to undergo a radical transformation to avoid becoming outdated and understaffed. 🗣 Tell us what solutions your firm is implementing to tackle today's CPA shortage. Read the article: https://lnkd.in/e2rayZbn #accountingservices #CFO #innovation #talent #CPA #ScaleWithSoul

If one is reading the Reddit blogs these days focusing on the Big Four firms and consulting, one is seeing in certain of these communities a rise in PIPs, delayed start times, and confusion on salary adjustments this year. This time will pass but is never fast enough for young people and confusing those who are entering the marketplace today. The article is from CFO and is true - it always has been and always will be! Accounting offers a strong foundation in financial literacy, which is critical for business success, and opens diverse career paths worldwide! We meet with future professionals in the profession all the time at the UC San Diego University of California, San Diego - Rady School of Management points to how accounting careers offer great earnings potential due to the high demand for financial expertise in all industries. Accountants provide the information and serve in a key role in business decision-making.

"Facing a CPA talent crisis? Discover how the accounting industry is evolving with tech, rebranding its image, and setting realistic salaries to attract fresh expertise. #AccountingFuture #TalentShortage"

Read what industry experts, including our very own David Wurtzbacher, have to say about pipeline solutions in the Accounting Industry! https://lnkd.in/eTFxciSv We believe that most accountants prefer working in small and medium-sized firms because the teams are tighter, the client relationships are more intimate, work-life-balance is better, each individual is seen and valued, and the work can be more versatile over time (vs. working in one specialized silo your whole career). But big firms can offer better benefits, higher compensation, a larger cohort of peers, and better training. Ascend is achieving the scale to provide the benefits of a large firm so we can also provide these things to our employees too, but we are a group of regional firms that can offer the associated advantages of being small. By creating the "have your cake and eat it, too" employer, we believe we can revitalize the profession so that people have the trusted advisors they need, and accountants have the careers they want…in fact, that is our promise to the world! — David Wurtzbacher, founder & CEO, Ascend

"The traditional accounting resource pipeline is crumbling in the U.S., forcing finance leaders to completely reimagine how they source talent. But confronting that challenge also creates an opportunity to reinvent outdated operating models and innovate a better way of working." Read Auxis CEO Raul Vega's latest blog to learn what's causing the severe dearth of talent in the U.S. for #accountingjobs, and how CFOs can source high-quality talent.

The recent report by Accountancy Age highlights the growing concern over talent shortage within the accounting profession. As experienced recruiters, it is essential for us to address this issue head-on. The demand for skilled accountants continues to rise, while the supply of qualified professionals struggles to keep pace. This talent shortage poses a significant threat to the accounting industry, as firms may face challenges in meeting client needs and maintaining high-quality services without a robust team of competent professionals. It is crucial for accounting firms to proactively address the talent shortage by investing in recruitment strategies, talent development programs, and retention efforts. Emphasizing the importance of attracting and retaining top talent within the accounting profession is vital to the long-term success and sustainability of firms. Additionally, promoting the accounting profession to young professionals and students can help bridge the talent gap and ensure a steady pipeline of qualified candidates entering the industry. By taking proactive measures to address the talent shortage, accounting firms can position themselves for continued success in the ever-evolving financial landscape. In conclusion, the talent shortage within the accounting profession presents a significant challenge that cannot be overlooked. By proactively addressing this issue, partnering with the right specialist recruitment consultant to support their business needs, accounting firms can position themselves for sustained growth and success. #Accounting #TalentShortage #RecruitmentStrategies

Millennials and Gen Z are the future of the accounting profession. Despite their immense value, these generations often demand additional time and resources to onboard and integrate effectively. Yet, many accounting firms overlook this critical challenge, resulting in avoidable costs and missed opportunities for growth. Did you know that, according to Robert Half's research, 86% of Australian business leaders now find the impact of a bad hire more severe? The cost of a bad hire can be 15-21% of their salary, depending on their seniority. To avoid high costs and attract and retain the most capable Millennial and Gen Z accounting talent, explore our latest blog, where we have discussed key strategies to recruit and retain young professionals. By implementing these strategies,  your firm will be well-equipped to build a strong team that drives future success. If recruiting is still challenging, consider outsourcing your accounting needs to Accxpert. This approach allows you to hire trained accounting professionals at a fraction of the cost. For more information on how our expert outsourced accounting services with flexible pricing models can enhance your firm's capacity, margins, and profitability, please book a call with us. #NextGenAccountants #RecruitmentStrategies #RetentionTactics #AccountingFirms #TalentManagement #Accxpert #QualityAccounting #SmallBusinessSolutions #toaglobal #microsourcing

The accountant shortage has reached crisis levels in 2024 - driving labor costs sky-high, impacting financial reporting, and forcing CPA firms to turn away work. The statistics aren't pretty: * Accountants are exiting the profession in droves, leaving more than half of financial-related jobs unfilled. * The number of accounting graduates dropped by the largest single-year percentage in more than a decade. * The American Institute of Certified Public Accountants (AICPA) estimated that 75% of its members reached retirement age by 2020. Read Auxis CEO Raul Vega's latest blog to learn what's causing the traditional accounting pipeline to break - and how CFOs can source high-quality talent: https://lnkd.in/ezCDWJwS Fabiana Corredor Amy Koeppl Sruthi Ramakrishnan Lauren Randles #accounting #accountant #financeandaccounting #accountingsolutions #laborshortage #nearshoreoutsourcing #costarica #colombia

Interesting blog of the current accountant shortage crisis and how outsourcing the finance/accounting operations is helping the companies.

New insights have been released on talent retention in the accounting field! 📈💯 A new report on talent retention from the Pennsylvania Institute of Certified Public Accountants (PICPA) aimed at informing accounting firms is live, but many of its insights are relevant to other companies employing CPAs. 📌 Key Takeaways from the Survey to Retain Talent: ☑️ No quick fixes, but a holistic approach is key. ☑️ Most accountants want to stay in their profession. ☑️ Workload management is crucial for retention. 📌 Bonus Takeaway from Blue Onion to Retain Talent: ☑️ Keep up with the latest technology that allows teams to eliminate manual work and do more with less! 🛎️ If this rings a bell, check out more below 👇 https://hubs.ly/Q02wrkl90 🔍To learn more about how CFOs can better retain their accountants on staff, check out the full article here 👉 https://hubs.ly/Q02wrsS90 #CPA #AccountingInsights #FinanceTips