Top challenges when hiring accounting professionals

Like any area of the business, there are challenges to be overcome when searching for the right accounting professional to hire.

These challenges make it essential for businesses to think carefully and clearly about the packages they offer to potential candidates and how they present their brand. Bearing all of this in mind, what are the main challenges that organisations currently need to overcome when hiring accounting professionals and how can they be overcome?

A counteroffer from a different organisation

Realistically, an organisation can never assume its search is over just because it finds what appears to be the ideal candidate. There is always a chance that the individual’s current employer, or a competing organisation, could offer them a better package.

This makes it essential for businesses to have their finger on the pulse of what represents a competitive package in the current market. This includes flexible working options and advancement opportunities as well as salary.

Lack of engagement with the company brand

It may not seem obvious to every organisation, but potential candidates are often significantly influenced by impressions of the brand. For example, a quick online search will show whether a less than positive culture is leading to people leaving the business soon after they arrive. Candidates can also read reviews left by previous employees.

If a business wants to attract top professionals, it needs to have a culture that is attractive. Having a good industry reputation and a robust corporate social responsibility (CSR) policy also has a big impact on the way potential candidates view an organisation and whether they want to work there.

Smaller candidate pool than previously

There is currently a lack of top-quality candidates in accounting recruitment. This is partly due to the advancements in technology that are making number crunching a more automated process. Given this development, there is more emphasis on professionals who are able to look deeper and provide strategic insights.

Individuals with this type of ability can be difficult to find. For this reason, organisations are looking to recruitment professionals who have access to larger pools of individual talent.

Searching for flexibility

Flexibility is something that has become more prevalent as a result of the COVID-19 pandemic. Professionals have come to expect packages that include benefits such as part-time working and remote working. They are searching for an improved work-life balance. For many individuals, this is on a par with remuneration when deciding whether or not to accept a job offer, or even whether to put their CV forward in the first place.

There is no getting away from the fact that organisations that want to attract top accounting talent have to be prepared to offer flexibility as part of their packages.

These challenges are very real when it comes to hiring accounting professionals. They are not unsurmountable, but they have to be a consideration when a business wants to hire an accounting professional to fill a role in their organisation.

If you are an accountancy professional looking for your next role, register with us. If you are on looking to hire an accountancy professional, get in touch.