Industry Insights

The accounting industry faces a major talent gap, with too many open positions and too few qualified professionals. Retention is becoming as crucial as recruitment, but some firms are pulling back from diversity, equity, and inclusion (DEI) efforts due to political pressures. This move risks alienating key talent, particularly women and underrepresented professionals, who are already underrepresented in leadership roles.

The Staffing Strategies report from the Center for Accounting Transformation highlights key challenges and solutions in closing talent gaps within accounting firms. While many firms acknowledge burnout due to high workloads, they also believe they maintain strong team collegiality. To address staffing shortages, firms commonly rely on hiring, offshoring, demand management, and technology.

The blog discusses how job candidates can improve their interview performance, especially when answering personality and team-fit questions. It shares the story of "Sarah," who successfully used the Accountants Personality Profile to prepare for her interviews.

A successful staff induction should be a structured and personalized process that helps new employees integrate smoothly into the company. It should include an overview of the organization, its culture, values, and key personnel, along with role-specific training and workplace orientation.

The blog emphasizes that pre-employment tests must comply with anti-discrimination laws to avoid legal and reputational risks. Following the EEOC’s best practice guidelines helps ensure that testing processes are defensible against any claims of bias.

Mike Manalac, CPA, shares his journey from public accounting to the tech industry, offering actionable advice for accountants looking to make a similar move. To break into tech or any competitive industry, be strategic, stand out, and take bold steps.

This blog discusses best practices for hiring university and college graduates, particularly in accounting and bookkeeping. Since graduates often lack extensive work experience, employers must assess their potential through testing.

The blog explores the increasing involvement of private equity (PE) in accounting firms and its potential impact on firm owners, emerging leaders, and staff accountants

Top accounting firms excel by aligning their hiring practices with strategic goals, focusing on candidate-centric job ads, leveraging employee referrals, and using data-driven tools like skills tests and structured interviews. A comprehensive approach that includes tailored onboarding and ongoing development helps firms attract, hire, and retain top talent while minimizing costly hiring mistakes.

The blog emphasizes the importance of testing and assessment in hiring decisions, particularly for support-level roles that are often overlooked despite their significant impact on business operations. While businesses commonly invest in assessments for middle-level roles (e.g., managers, accountants), and sometimes neglect higher-level roles due to overreliance on track records, they rarely assess support staff, citing cost concerns.

The blog discusses the value and ROI (Return on Investment) of pre-employment testing, addressing why many firms are hesitant to adopt it due to challenges in measuring its benefits. It highlights insights from Dr. Steve Blinkhorn, who breaks down the key factors that influence the ROI of testing.

At 11 years old, Donna Roughan dreamed of becoming an accountant, inspired by her exposure to her parents’ business finances. Initially envisioning a straightforward career of preparing financial statements and filing taxes, she discovered a profession far more dynamic and fulfilling. Her career included unexpected adventures like decommissioning a sawmill, working hands-on in the dairy industry, repossessing assets, managing vineyards, negotiating disputes, implementing software systems, and overseeing logistics operations.