The competition for top accounting and finance talent has become fierce and will continue as we step into 2025. Over the past decade, the accounting and finance industry has witnessed a steady decline in the number of graduates entering the field. According to the AICPA 2023 Trends Report, the number of accounting graduates has declined steadily up to 3% since 2016. That’s over 20% less accounting candidates entering the work force today compared to 2016. Couple this with experienced professionals leaving the workforce due to retirements and career changes further exacerbates the decline. Assuming demand has stayed constant, we can confirm the candidate pool has shrunk. Small and mid-size companies must adapt to evolving workforce expectations and leverage innovative strategies to attract top talent in these specialized fields. Here are key approaches to stay ahead in the talent race.
1. Offer a Competitive and Flexible Work Environment
A recent Workplace Flexibility Survey by Deloitte found that 94% of respondents say they would benefit from work flexibility, with the top gains being less stress/improved mental health, and better integration of work and personal life. The Clark Agency Recruiters has experienced similar information across all levels within the organization. Offering hybrid or fully remote work options will continue to attract top talent in 2025.
2. Leverage Technology for Internal Automation and Progressive Systems
Today’s candidates are increasingly drawn to firms that leverage the latest accounting/finance technologies. Investing in automation tools for financial reporting, budgeting, and tax compliance can significantly reduce manual workloads and increase efficiency. Cloud-based ERP systems, AI-driven analytics, and robotic process automation (RPA) can streamline operations, allowing finance teams to focus on strategic initiatives. Implementing these solutions, where possible and applicable, demonstrates a commitment to innovation and operational excellence, making it easier to hire top talent.
3. Competitive Benefits
Many candidates put a high emphasis on benefits. This includes professional development reimbursements (CPA and higher ed), student loan repayment programs, wellness programs, retirement plans and vacation policies that align with a flexible working culture. According to the 2024 LinkedIn Workplace Learning Report, 90% of organizations are concerned about employee retention and providing learning opportunities is the No.1 retention strategy.
4. Understand Your Culture, the Role and Motives of the Candidate
In general, accounting and finance professionals seek long-term career growth opportunities. These goals vary between individuals and can change depending on where they are in their personal lives. An honest assessment of the needs of the role, a realistic outlook on needs for internal advancement, and a thorough understanding of the candidates’ motives today (including their long-term career goals) are critical to attract top talent for your role.
5. Build a Strong Employer Brand
Glassdoor and employer reviews are still very relevant. According to Google’s AI Overview, a significant majority of job seekers (around 80-85%) actively check reviews before applying for a job.
Your current employees can be your best brand ambassadors. Encouraging professionals to share their experiences on platforms like LinkedIn and Glassdoor can provide authentic insights into your company culture and values. Potentially, attracting top-tier talent organically.
6. Enhance the Candidate Experience
From the job application process to onboarding, creating a positive experience for candidates is essential. Clear communication, prompt feedback, and personalized interactions will leave a lasting impression and encourage top candidates to accept offers. Providing tailored welcome kits, touch points from the hiring manager prior to the start date or a peer mentoring program can help foster engagement from day one.
7. Foster a Diverse and Inclusive Workplace
Creating bias-free recruitment processes, diverse leadership teams, inclusive policies, and ongoing education and training can foster an inclusive environment and will encourage top talent to apply to your role. Ensuring pay equity and providing equal growth opportunities will help retain a diverse workforce.
8. Partner with a Specialized Recruiter or Headhunter
We have extensive networks, industry insights, and the expertise to identify and approach passive candidates who may not be actively searching for jobs but possess the skills and experience your firm needs. Working with a headhunter can help reduce hiring timelines, improve the quality of hires, and ensure that candidates align with your organization’s values and culture. This strategy can significantly increase your ability to attract and hire top talent in specialized fields.
Learn more about The Clark Agency Recruiters here: www.theclarkagency-us.com or https://www.linkedin.com/company/the-clark-agency-recruiters
