they’re scarce. here’s how to keep them happy.
by 卡塔尔世界杯常规比赛时间 research
it’s no news to the accounting industry that staff and professionals are hard to find and hard to keep from wandering off to some other firm.
more: survey: accountants economic outlook brightens | the 7 categories of cybersecurity solutions firms need | understanding the full cost of a data breach | research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai | why the u.s. must act now to protect our online privacy
exclusively for pro members. log in here or 2022世界杯足球排名 today.
and the law of supply and demand hasn’t failed to rule, according to the global talent trends 2023 survey of the association of chartered certified accountants: scarce employees expect a good salary, good treatment and a chance to work outside the office.
identifying and dealing with these employees’ expectations is essential to a continuous and successful flow of business. the survey found five challenges to that flow.
1. salary inflation
inflation, the survey says, is now accounting firms’ greatest challenge, and most of it is because of a demand for higher salaries.
firms are getting hit with an inflationary triple-whammy:
- inflation is hitting just about everything, from fuel to tech to real estate.
- employees know they are in high demand, so they expect high salaries.
- employees expect even more just to keep up with the high cost of everything.
salaries may be high and rising, but this is the latest manifestation of supply and demand. the supply is low, the demand high. the results are inevitable, the solution painful but obvious. pay more.
2. remote work
the option to work outside the office saved the accounting industry during the pandemic. unlike many industries, the accounting process readily adapted to off-site work.
pandemic or no pandemic, remote work is the gift that keeps on giving. employees – especially female employees – are generally in no hurry to get back to the office. according to the acca survey, 46 percent of respondents in the americas report being fully office-based, but a staggering 89 percent would prefer to work at least one day from home.
- 93 percent of female employees like to, or would like to, work from home at least one day per week.
- 83 percent of males feel the same.
- 77 percent of all employees say they are more productive when working remotely.
- only 36 percent find team collaboration harder when working remotely.
- only 22 percent feel more disengaged from management when working remotely.
remote work option might be a low-cost “benefit” that counterbalances the demand for higher salaries.
3. the temptation to stray
while the option to work remotely is a big plus for employees, the option of changing jobs, internally or externally, is a big temptation. there are plenty of job alternatives out there.
in the americas, a good 46 percent of employees intend to move to a new role within a year, and 71 percent hope to do so within two years. almost half them intend to look for a job with another employer.
that stat should scare the daylights out of the management of any cpa firm. inflation may be the greatest challenge; the specter of empty desks is far more serious.
4. mental health
the accounting industry might have a serious problem with mental health. whether it’s the upcoming generations not used to hard work, or the increasing pressure on everyone in accountancy, the plain fact is that employees are stressed out.
- 82 percent say they would like a better work-life balance.
- 48 percent say their organization doesn’t prioritize mental health.
- many cite insufficient resources as a cause of stress.
stress is a health issue. accounting firms need to proactively monitor and deal with the stress that comes with the job.
5. technology
just about everybody agrees that technology helps add value to an organization and a day’s work. but 79 percent of respondents say they need more training in tech. many are also concerned that tech might take their jobs.
it’s a shame, and a waste, to invest in tech, then fail to teach employees how to use it to maximum advantage. given the rapid advances in technology, training must now be a consistent and ongoing process.
artificial intelligence holds many promises, but it’s hard to imagine an accounting practice without employees. it’s hard to imagine employees that aren’t people. but people are only human. they come with problems, motives and desires. the firms that care for those people are the firms that are most likely to thrive.
one response to “staff need good pay and tlc”
john sanchez
great article, hits all the issues facing firms of all sizes.. the market will have to bear the results of these economic realities. the question is, will firm owners respond correctly or be too slow to react.