Recruiting

With accounting talent in short supply, many firms are paying a premium for external hires instead of promoting their internal talent.

AICPA chair Lexy Kessler looks ahead at the challenges and opportunities that are facing the profession, and what accountants need to do to be ready for them.

The profession faces plenty of issues — but many come with strong opportunities, says the AICPA chief.

The overall unemployment rate remained unchanged at 4.2%.

A multipronged, adaptable staffing strategy is likely the best course of action for CPA firms and small to midsized businesses.

Private sector employment increased by only 37,000 jobs in May, down from a revised figure of 60,000 in April, while annual pay increased 4.5% year over year.

The average annual salary for the six highest paid positions in corporate accounting is $193,722, according to data from Surgent.

Those are daunting pay gaps for most organizations, but accounting leaders have other levers they can pull in order to hire and retain talent.

The fastest-growing accounting firms spend twice as much on their marketing budget than all other firms, an AAM study finds.