As per the 2018 US Bureau of Labor Statistics, last year witnessed a 4% decline in the number of bookkeeping, accounting, and auditing clerks. That situation is not ideal given how there is always too much overflow tax work with more hands required to do the job.
The question remains: How do you solve people challenge
Well, Phil Whitman and QXAs came together for webinar to help accountants and CPA solve staffing challenge and here are the biggest takeaways from it
Why is Your Staff Disengaged
Accounting has evolved over the last decade. It’s no longer desk job where you get call and do rounds. The market has shrunk. You need someone who can add value to client needs, aces at communication has entrepreneurial mindset.
CPA firms should divert their energy more towards doing more serious accounting job that focus more on revenue and outsourced the rest. This will help utilize the in house talent at the max and enable them to work on something they love the most
Most firms are failing to acknowledge that there is a problem. Staff turnover is high as they are super suffocated and frustrated. A lot of young accountants do not see future in public accounting as they do not see firms doing groundwork: asking clients of their core problems or giving advice at conference.
It’s time to shift our focus to more core competency work.
Demand of High-Skilled workforce
A recent Lucas Group survey on small and medium-sized businesses found that 27 percent of the businesses surveyed are struggling to hire qualified talent– making this a top business challenge.
The jobs of accounting and finance are growing. Given the regular association with different divisions, the present accountants experts need steady basic leadership, arrangement and vital reasoning aptitudes. It's additionally imperative to have the option to see the master plan and see how your accounting job impacts the general association.
Organizations profit by working with undertaking experts in various manners. Interim staff can give mastery inaccessible in-house and bolster activities, for example, a merger joining or framework updates. Notwithstanding covering for staffing holes, they can step in while an enlisting search is being led and be accessible for brief to-enlist openings.
Combating Staffing Shortage
Staffing shortage is a bitter reality. CPA firms, accountants are finding it extremely difficult to hire the right talent that can fit ever changing client needs
Top talent is holding the cards in today's job market. Our recent survey on the effects of the current candidate-led market revealed that 58% of hiring managers have struggled to attract candidates with the right hard skills or experience. For some businesses, the consequences can be serious.
In this webinar, Phil whitman- Advisor, President Whitman Business Advisor and Laurence Whittam highlights how business can stay profitable in spite of talent shortage and keep your staff intact
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