“getting work was easy, but getting it done was hard.”
by matt rampe
the rosenberg national survey of cpa firm statistics
the staffing struggle won’t turn around overnight. firms that want to succeed need an intentional strategy on recruiting and retaining talent.
editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:
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- how do you think the next 12 months will unfold? trends? predictions? other thoughts?
- how would you assess the last 12 months? trends? observations? struggles?
more: how accounting firms are handling the staff shortage | the future of fees | as private equity closes in, firms seek new answers to staffing problems | when staffing falls short, clients get culled | how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
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private equity and technology will continue to advance. this will create a more competitive landscape, with more firms innovating on all aspects of the traditional cpa firm model.
firms that focus on delivering value to their clients (particularly to a focused niche) instead of taking compliance work that walks in the door will have an advantage and are more likely to maintain their long-term viability.
in the last year, getting work was easy, but getting it done was hard. while business was knocking on the door for cpas, staffing challenges persisted. some hope came from the aicpa’s national pipeline advisory group, which highlighted multiple ways we can improve the inflow of talent into our industry, but they did not have a short-term solution. firms were able to improve their capacity, though, with outsourcing, technology and culling of clients.
the other big trends that continued to impact the industry were private equity and artificial intelligence. wider adoption of both accelerated, but the amount of hype versus the value that each will bring is yet to be determined.