Accounting firms throughout the world stand on the two most vital pillars, i.e., capital and employees. This makes it crucial for every firm to have sufficient capital in place to execute its various operations smoothly and hire the right talent, says Annie Marker at Accountingweb.

When it comes to hiring, however, recruiting the right staff has remained one of the top challenges. 

What are the Common Hiring Challenges?

Of late, finance and accounting companies have gone through some major changes to streamline their work processes. However, when it comes to quality staffing, they still struggle. Here are some major pain points: 

1. Shortage of the Right Talent

This, by far, is the biggest obstacle for accounting firms, even though there are lots of job opportunities. Apart from this, the number of suitable applications for the job profile is at a minimum, adding to the complexity of finding the right talent.

2. Matching the Right Skills

Technological advancements have changed the skill set requirements in the accounting world. Today, CPA firms are looking to hire those candidates who have technical skills in place apart from the accounting qualifications. In short, they are looking for people who possess the ability to change and upgrade their skills with the changing trends in the accounting world. Many professionals are having difficulty finding candidates who possess:

Soft Skills Requirements

  • Time management
  • Analysis of systems
  • Deductive reasoning and mathematical ability
  • Active learning and critical thinking
  • Strong oral and written communication
  • In-depth detailing and organization
  • Problem solving skills and analytical ability
  • Microsoft Office Suite proficiency and clerical knowledge

Read more on Accounting Weekly.