Attracting (and Retaining) Accounting and Finance Talent Amid a Talent Shortage: Tips from a Recruiter Who’s Seen It All
Let’s be real: accounting and finance have always been the quiet, dependable heroes behind every successful business. But in recent years, the landscape has started to change, and not in a good way. Over 300,000 accountants and auditors have exited the workforce since 2020, leaving a 17% gap, while fewer new graduates are entering the profession. The result? A talent shortage that’s causing serious headaches for employers everywhere.
Gone are the days of hiring accountants like they’re going out of style. Now, corporate employers need to get creative if they want to attract and retain top-notch finance and accounting pros from a dwindling pool. As a recruiter who’s spent years in the accounting and finance space, I’ve seen firsthand what strategies truly make a difference. Here’s what you need to focus on to thrive in today’s tight talent market:
Leverage Technology to Appeal to Younger Talent
Let’s face it—today’s younger workforce isn’t interested in spending their days staring at spreadsheets or doing repetitive data entry. They’re all about using AI and automation to cut down the grunt work so they can focus on the fun, strategic stuff (like solving business problems and making better decisions). If your company isn’t embracing tech, you’re not going to attract the best and brightest.
Takeaway: If you want to attract fresh talent, make sure your company is embracing cutting-edge technology. Show them that you’re not stuck in the past. If you have positions that use new technology or systems, be sure to include those buzzwords (ie:”cloud-based” or “machine learning”) in your job descriptions for good measure.
Create Clear Career Development Paths (Because No One Wants a Dead-End Job)
Today’s young professionals don’t just want a paycheck—they want to know that there’s room to grow. Nearly 90% of Millennials say career development is a key factor in choosing an employer, and if you can’t provide that, they’ll be out the door faster than you can say “promotion.”
Research shows that companies that invest in career development enjoy higher profitability and employee retention. So, it’s not just about offering more money —it’s about creating a growth path that helps employees feel invested in your company’s future.
Takeaway: Build a culture of continuous learning. Provide mentorship programs, leadership training, and skill-building opportunities. Employees who see a future with your company are much more likely to stay loyal and engaged.
Flexibility: It’s Not Just a Perk—It’s an Expectation
The pandemic changed a lot of things, and one of the biggest shifts has been the demand for flexible work. A whopping 87% of employees prefer remote work options, and that includes accounting and finance professionals. But don’t just stop at allowing employees to work from home—consider hybrid models, flexible hours, or letting people create their own schedules. No one’s excited about a rigid 8-to-5 anymore (especially if that 8-to-5 involves commuting).
More flexibility means happier, more productive employees.
Takeaway: Flexibility isn’t just a nice-to-have anymore; it’s a must-have. If you want to stay competitive and attract top talent, your company has to be willing to adjust how and when people work.
Diversity, Equity, and Inclusion (DEI): It’s Not Just for Show
Despite the current political debates surrounding DEI, today’s employees—especially younger generations—expect their companies to genuinely embrace diversity, equity, and inclusion. Around 80% of workers want to work for a company that actively supports DEI, and 60% expect their leaders to take a clear stand on social and political issues. Organizations that have recently abandoned their DEI initiatives are already feeling the consequences, with falling stock prices and consumer boycotts. In short, if your company isn’t truly committed to DEI, your talent pool will walk right out the door.
Diverse teams don’t just look good on paper—they perform better. Employees who feel respected, included, and valued are far more likely to stick around. Plus, if you’re not committed to DEI, you’ll miss out on a wealth of talent.
Takeaway: Be vocal about your commitment to diversity, and make sure it’s reflected in your hiring practices, workplace culture, and leadership.
Soft Skills Matter More Than You Think
Here’s the deal: while technology continues to handle the transactional stuff, the value of soft skills is skyrocketing. Your team needs to focus on what truly drives business forward—critical thinking, problem-solving, communication, and emotional intelligence. This isn’t just a “nice-to-have” trait; it’s a necessity.
Yes, accountants need to be tech-savvy, but they also need to know how to navigate relationships, think strategically, and communicate insights effectively. These soft skills can’t be overlooked.
Takeaway: Invest in developing both technical and soft skills within your team. A well-rounded accountant who can think critically and communicate with ease is worth their weight in gold.
Innovation Isn’t Optional—It’s Essential
If you want your company to attract top talent, you have to stay ahead of the curve. Continuous innovation is what sets the leaders apart from the laggards. Whether it’s investing in AI for data analysis, adopting cloud-based tools, or using data visualization for better decision-making, innovation is key to staying competitive.
Companies that invest in new technologies and embrace a culture of innovation are seen as forward-thinking, dynamic, and appealing to top talent. If your company is still using outdated tools, you’re not going to attract the innovators you need.
Takeaway: Make innovation a priority. The more you invest in staying ahead of the tech curve, the more you’ll attract talent that wants to be part of something cutting-edge.
The Bottom Line
The talent shortage in accounting and finance is real, but it’s not the end of the world. By focusing on technology, career development, flexibility, DEI, soft skills, and innovation, you can build a team that’s not only skilled but also loyal and engaged.
Companies that are adaptable and forward-thinking are the ones that will win in today’s competitive talent market. So, if you’re ready to shake things up and start attracting top talent, it’s time to rethink how you approach recruitment, culture, and development. And hey, don’t be afraid to have a little fun along the way—you might just find that accountants are fun too.
