National Accountant Shortage

Accountants play a crucial role in maintaining financial stability and transparency for organizations. However, accounting leaders have noted that the number of professionals entering or staying in the accounting field is dwindling. This has led to an accountant shortage. The accountant shortage has become the number one issue for both small and large firms. Recruiting efforts have become even more competitive as high-caliber candidates have more options than ever before. Keep reading for more background on the accountant shortage. Additionally, learn how staffing companies, like ATHENA, who understand these dynamics, can support their clients and attract top talent.

Background on the National Accountant Shortage

The factors that have created this accountant shortage aren’t new, but the effects are. Accounting jobs continue to grow each year but the number of professionals that are entering or staying in the field continue to drop. For example, according to a LinkedIn article, there were 1.6 million accountants in 2022 with only 47,000 people entering the industry and 300,000 accountants leaving.

Additionally, the number of first-time candidates taking the CPA exam has dropped by 33%. This gap is due to several reasons, including an aging workforce that is retiring, increasing and evolving CPA requirements, as well as young graduates gravitating towards other career paths.

Regardless of the reasons, the impacts of the accountant shortage are being felt now. Businesses are facing mounting workloads and grappling with burnout, which can compromise both accurate financial reporting and the time needed for effective recruiting. This is why partnering with ATHENA to help attract top talent is crucial.

Staying Competitive with ATHENA

Exploring alternate talent sourcing strategies can help you stay competitive among the tug of war for dwindling talent. These strategies include outsourcing recruiting to consulting and using staffing specialists. In this accountant shortage, recruiting has become a year-round effort with increased bandwidth. It is crucial to have a dedicated team that can focus on finding the right talent while you concentrate on your core business operations.

Here at ATHENA, we leverage our extensive network and industry expertise to connect you with top tier accounting professionals. This can ensure your organization remains resilient and well-staffed despite the ongoing shortage. To read more about ATHENA and understand why we are the right fit for your team, click here.

In addition to outsourcing, companies can attract top talent by offering flexible work arrangements. They can also offer competitive compensation packages and opportunities for professional growth and development. If you want to read more about creating a competitive employee’s benefits package, click here. Data shows that competitive compensation and benefits, as well as flexible hybrid work options are top concerns for accountants looking for roles.

Contact Us Today

If you need assistance staffing accountants, please contact us here. Our team understands the unique challenges and demands of the accounting field. We provide tailored staffing solutions to meet your specific needs. Whether you require temporary, permanent, or contract placements, we have the resources and expertise to find the right candidates for your organization.