Talent Shortage in the Accountancy Sector – How can Firms Compete?

Talent Shortage in the Accountancy Sector - How can Firms Compete

Talent Shortage in the Accountancy Sector – How can Firms Compete?

To attract top talent when recruiting it’s important to acknowledge that salary is a significant factor for many candidates. However, it’s not the only factor that influences their decision. Many professionals also consider factors like work-life balance, growth opportunities, company culture, and the impact they can make in a smaller organisation. To compete on salary, I recommend that smaller firms take a strategic approach. 


Highlight the non-monetary benefits 

While smaller firms may not have the same budget as larger competitors, they can offer unique advantages that big companies often lack. Emphasise the close-knit work environment, the ability to work directly with partners or senior management, and the opportunity for faster career progression. These benefits can be extremely appealing to candidates who value personal growth and professional development. 


Flexible compensation packages 

Rather than solely focusing on base salary, smaller firms can create compensation packages that include other perks. For example, they can offer performance-based bonuses, profit-sharing plans, or equity options. These additional incentives can help bridge the gap between the base salary and what candidates may expect from larger firms. 


Emphasise work-life balance 

It’s true to say that many professionals, especially those with families or personal commitments, highly value a healthy work-life balance. Smaller firms can emphasise their flexibility in terms of remote work options, reduced working hours, or accommodating personal needs. This can be a significant selling point, especially for candidates who are seeking a better work-life integration. 


Promote a unique company culture 

Smaller firms often have a more intimate and collaborative work environment compared to larger corporations. We suggest highlighting this cultural aspect which can attract candidates who prefer a close-knit team and a supportive atmosphere. When advertising, highlight the opportunities for mentorship, learning, and direct involvement in decision-making processes. 


Offer continuous learning and professional development 

Smaller firms can invest in their employees’ growth by providing ongoing training, certifications, and educational opportunities. Focus on the commitment to employee development and the ability to gain diverse experience across various accounting functions. This can be particularly attractive to candidates who value continuous learning and expanding their skill set. 




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