The numbers are startling: over 300,000 accountants have left the profession in just two years, and projections show that we’re facing 126,500 job openings every year. If you’re running a CPA firm, you’re probably already feeling the impact of these unprecedented staffing challenges. What’s more, traditional approaches that rely on recruiting local graduates or trying to hire more senior accountants away from existing employers simply aren’t working as well as they used to, especially for smaller firms.
Sponsored by Scrubbed, a new report, Staffing Strategies: Uncovering Solutions for the Accounting Talent Gap, analyzes responses from 246 accounting professionals and reveals that only 24% of organizations consider their current staffing strategies successful.
“The fact remains that if firms continue down the same path and ‘just go to the same well,’ eventually, there will be no water when they pull up the bucket,” the report warns
However, the early research described in the report shows there’s hope – and actionable solutions – for your CPA firm.
- Focus on Building a Positive Work Culture
The research reveals that firms that prioritize a positive work environment and provide professional development opportunities see better employee engagement, , with 65% of staff expressing strong feelings of belonging. This isn’t just about keeping your employees happy; it’s about building a competitive edge. - Reimagine Recruitment
CPA firms need to find new ways to create sustainable talent pipelines. Strategic academic partnerships, hiring people with non-accounting backgrounds, and expanding remote work options can all help you recruit the people you need. - Improve Efficiency
Only 47% of respondents report that their accountants’ workloads are reasonable and 36% say they have significant problems with burnout. Optimizing the workload by using more outsourced or offshore teams and streamlining your processes can help reduce burnout without affecting the quality of your client services. - Strategically Reduce Demand and Workload
Reducing the demands placed on your team by decreasing the workload could look like more automation, fewer or different services, or price increases. The report shares how successful firms are finding ways to maximize value while minimizing team stress.
The talent crisis is real, but it doesn’t have to define your firm’s future. The Staffing Strategies Research Report offers concrete, data-driven solutions that are already proving successful in the field.
Ready to transform your firm’s approach to talent? Download the preliminary report for actionable insights and proven strategies.
