Accounting Talent Podcast

Are you struggling to find top accounting talent? Could remote hiring be the solution you've been overlooking?

Rob Brown sits down with Jeff Phillips, to discuss how hiring remote accountants could be the key to solving recruitment challenges in the accounting industry. Jeff, co-founder of AccountingFly, shares his expertise on tapping into a vast pool of domestic remote talent, highlighting the benefits and addressing common concerns associated with remote hiring.

The conversation goes into the shifting landscape of talent acquisition in accounting, introducing the concept of the "new talent stack" - an innovative approach to building a diverse and skilled workforce. 

Jeff provides compelling insights into why top performers are increasingly choosing remote work options and how firms can adapt to this new reality. He also offers practical advice on implementing remote hiring strategies, from onboarding to maintaining company culture in a virtual environment.

Key Takeaways:

• Domestic remote hiring expands the talent pool from local to national 
• Remote positions can be filled in about 40 days compared to year-long vacancies 
• By 2030, there will be 50 million more knowledge jobs than workers to fill them globally 
• Training and maintaining company culture is possible with remote workers through technology and hybrid models
• Data-driven project management tools can effectively measure remote worker productivity

Quotes:

"The race for talent is over and the talent won. Let's accept that reality and use it to our advantage."

"This is a mindset flip from 'I must see you to trust you' to 'I want to see data to trust you.'"

You can watch this specific episode on our YouTube Channel here: https://youtu.be/5oF2uE3A7ZQ

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This is the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

The Accounting Influencers Roundtable (AIR) runs regular international virtual speed networking events to build your personal brand and make valuable industry connections network in the accounting, finance and tech world: Book your place at our next gathering here: https://accountinginfluencers.com/events

More Accounting Influencers content here:

https://www.youtube.com/@accountinginfluencers for all of our podcast episodes

https://www.linkedin.com/company/accountinginfluencers for our events and posts

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

TOA GLOBAL. TOA helps you hire elite talent for your accounting firm. Join thousands of leading firms empowering their teams with job-ready outsourced accountants & bookkeepers. They work to unlock your firm’s potential with strategic accounting outsourcing services. The "TOA Global Difference" is simple - build a flexible, scalable outsourced accounting team to align with your firm now and as you grow. Crush the talent crisis and outsmart your competitors by adding highly skilled accounting professionals to your firm faster. Permanently increase your firm’s capacity with a dedicated outsourced accounting team in weeks, not months. Access elite professionals and discover a hidden pool of elite accounting talent ready to enable your firm’s growth with additional capacity. Build a dedicated team of highly skilled outsourced accountants and bookkeepers for your firm today.https://toaglobal.com

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Is trust the missing element in your organization? How can you close the trust gap between leaders and employees?

In this compelling episode of the Accounting Talent Podcast, host Rob Brown sits down with Cory Sheer, the author of "Closing the Trust Gap," to explore the critical issue of trust within accounting firms. With a deep dive into the multiple trust gaps identified by Cory's research, this conversation uncovers the staggering reality that leaders often overestimate their trustworthiness compared to frontline employees.

From dissecting the organizational trust gap to understanding the epidemic of distrust affecting productivity, retention, and profitability, Cory and Rob shed light on why trust is the ultimate currency in today's business landscape. They discuss the impact of collective trauma, technological evolution, and economic conditions on trust, and why trustworthy policies and practices are as crucial as trustworthy people.

Tune in to discover practical strategies for fostering trust, enhancing organizational policies, and aligning them with the evolving needs of employees and clients. Whether you're struggling with talent attraction, retention, or simply aiming to build a more cohesive and loyal team, this episode is packed with insights to help your firm thrive in a trust-deficient world.

Key Takeaways:

- There is on average a 31% gap in trust between leaders and frontline employees across industries

- 51% of employees do not have a high level of trust for their leaders

- Trust must be built through both people and policies/practices in an organization

- The three building blocks of trust are competency, problem-solving, and care for others

- Regular evaluation and iteration of policies is crucial for maintaining trust

Quotes:

"Trust is a vital currency that we need to grow in our companies."

"Trust is something that Stephen Baradel calls an actionable asset. It is an actionable asset that you can take action on in order to strengthen and improve."

You can watch this specific episode on our YouTube Channel here:

https://youtu.be/Vj0wWi9bAqw

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This is the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

The Accounting Influencers Roundtable (AIR) runs regular international virtual speed networking events to build your personal brand and make valuable industry connections network in the accounting, finance and tech world: Book your place at our next gathering here: https://accountinginfluencers.com/events

More Accounting Influencers content here:

https://www.youtube.com/@accountinginfluencers for all of our podcast episodes

https://www.linkedin.com/company/accountinginfluencers for our events and posts

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

TOA GLOBAL. TOA helps you hire elite talent for your accounting firm. Join thousands of leading firms empowering their teams with job-ready outsourced accountants & bookkeepers. They work to unlock your firm’s potential with strategic accounting outsourcing services. The "TOA Global Difference" is simple - build a flexible, scalable outsourced accounting team to align with your firm now and as you grow. Crush the talent crisis and outsmart your competitors by adding highly skilled accounting professionals to your firm faster. Permanently increase your firm’s capacity with a dedicated outsourced accounting team in weeks, not months. Access elite professionals and discover a hidden pool of elite accounting talent ready to enable your firm’s growth with additional capacity. Build a dedicated team of highly skilled outsourced accountants and bookkeepers for your firm today.https://toaglobal.com

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Are you and your employees caught in the overtime epidemic? Is overwork silently killing productivity and driving away top talent?

Rob Brown delves into the alarming issue of overwork and excessive overtime that is plaguing workplaces across the UK and the US. Drawing from compelling research, he reveals the severe toll it's taking on businesses and employees alike.

Excessive workloads, unrealistic expectations from managers, and an ingrained culture of overwork are undermining employee motivation, productivity, retention, and overall business performance. The statistics are staggering: one in five employees wants to quit within six months to escape overwork, and half put in up to four days of unpaid overtime each month – amounting to millions of uncompensated work days. This vicious cycle is burning people out, harming well-being, and driving away top talent.

Key Takeaways:

• "An embedded culture of overwork and overtime is taking a severe toll on business and workers across the UK workforce."
• Half of employees put in between a day and four days per month of unpaid overtime, equating to 19 million days of uncompensated work.
• One in five employees want to leave their current job in the next six months to escape overwork.
• 33% of employees are more likely to work additional unpaid hours if working remotely/hybrid.
• 28% report being unable to get their job done in the working day and having to work additional hours.

Quotes:

• "Unpaid work and missed holidays are not a sign of dedication. They are symptoms of a system which has to work better."
• 
  
• "It's only by creating a culture that respects employee time, prioritizes workload management, encourages healthy work-life balance, that businesses can reap the benefits of a happier, more productive workforce."

You can watch this specific episode on our YouTube Channel here: https://youtu.be/w7PlFJZLiJE

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This is the the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

The Accounting Influencers Roundtable (AIR) runs regular international virtual speed networking events to build your personal brand and make valuable industry connections network in the accounting, finance and tech world: Book your place at our next gathering here: https://accountinginfluencers.com/events

More Accounting Influencers content here:

https://www.youtube.com/@accountinginfluencers for all of our podcast episodes

https://www.linkedin.com/company/accountinginfluencers for our events and posts

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

TOA GLOBAL. TOA helps you hire elite talent for your accounting firm. Join thousands of leading firms empowering their teams with job-ready outsourced accountants & bookkeepers. They work to unlock your firm’s potential with strategic accounting outsourcing services. The "TOA Global Difference" is simple - build a flexible, scalable outsourced accounting team to align with your firm now and as you grow. Crush the talent crisis and outsmart your competitors by adding highly skilled accounting professionals to your firm faster. Permanently increase your firm’s capacity with a dedicated outsourced accounting team in weeks, not months. Access elite professionals and discover a hidden pool of elite accounting talent ready to enable your firm’s growth with additional capacity. Build a dedicated team of highly skilled outsourced accountants and bookkeepers for your firm today.https://toaglobal.com

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Are your top talents leaving in droves? Is 'staff turnover' burning down your accounting firm? 

Rob Brown and Jeff Phillips delve into the burning issue of high turnover rates plaguing accounting firms worldwide. They dissect the root causes fueling this exodus and provide practical solutions to stem the tide.

Jeff Phillips, CEO of Padgett Tax & Accounting Franchise and founder of AccountingFly, candidly acknowledges the gravity of the situation, likening turnover to a wildfire that spreads rapidly, leaving firms overworked and in a "spiral of death." The discussion highlights the talent crisis faced by the accounting profession, where the demand for services outpaces the supply of qualified professionals.

The crux of the episode revolves around a powerful yet simple solution: implementing employee surveys to gauge job satisfaction, engagement, and work-life balance. Jeff shares a proven framework used by firms like Adam Slack's remote accounting practice, which significantly reduced turnover by actively listening to employees.

Key Takeaways:

• Turnover is the percentage of professional staff that voluntarily leaves, not those who are fired.
• The top four reasons why people leave jobs within six months: unclear job responsibilities, lack of necessary resources, lack of team engagement, and poor work-life balance.
• Implement weekly or monthly anonymous surveys to identify and address issues before they escalate.
• Don't survey employees if you're unwilling to take action on the feedback.
• Address low scores immediately by calling the employee to understand and resolve the underlying issues.

Quotes:

"Turnover is a wildfire that spreads rapidly, leaving firms overworked and in a spiral of death." - Jeff Phillips

"Stop paying marketing companies $100,000 to develop a complex survey you roll out once a year. Ask frequently. Get in the weeds. Be willing to deal with troublesome feedback." - Jeff Phillips

You can watch this specific episode on our YouTube Channel here: https://youtu.be/iRYy9v1RSRISHOW DETAILS HERE

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This is the the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

The Accounting Influencers Roundtable (AIR) runs regular international virtual speed networking events to build your personal brand and make valuable industry connections network in the accounting, finance and tech world: Book your place at our next gathering here: https://accountinginfluencers.com/events

More Accounting Influencers content here:

https://www.youtube.com/@accountinginfluencers for all of our podcast episodes

https://www.linkedin.com/company/accountinginfluencers for our events and posts

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

TOA GLOBAL. TOA helps you hire elite talent for your accounting firm. Join thousands of leading firms empowering their teams with job-ready outsourced accountants & bookkeepers. They work to unlock your firm’s potential with strategic accounting outsourcing services. The "TOA Global Difference" is simple - build a flexible, scalable outsourced accounting team to align with your firm now and as you grow. Crush the talent crisis and outsmart your competitors by adding highly skilled accounting professionals to your firm faster. Permanently increase your firm’s capacity with a dedicated outsourced accounting team in weeks, not months. Access elite professionals and discover a hidden pool of elite accounting talent ready to enable your firm’s growth with additional capacity. Build a dedicated team of highly skilled outsourced accountants and bookkeepers for your firm today.https://toaglobal.com

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Trust: A Diminishing Commodity? Is It Still Relevant in Today's World? 

Cory Sheer, Author of “Closing the Trust Gap”, shares his insights on the alarming decline of trust across all aspects of society, from personal relationships to corporate entities and government institutions. He argues that the collective trauma of the COVID-19 pandemic, coupled with the disruptive forces of emerging technologies and economic challenges, has created a fertile ground for distrust to thrive.

Cory emphasizes the crucial role of trust as the bedrock of successful organizations and relationships. He provides a comprehensive framework for understanding trust, highlighting its three key components: competency, problem-solving, and care for others. By addressing these elements, leaders and individuals can cultivate an environment of trust and foster a culture of accountability, focus, and shared commitments.

Key Takeaways:

• Trust is the firm belief in the truth of something, and when different versions of truth coexist, trust erodes.
• The three building blocks of trust are competency, problem-solving (identifying the right problems), and care for others (empathy, active listening).
• Active listening, demonstrating genuine care for others, is the most effective way to build trust, without any financial cost.
• Setting shared commitments and ground rules is crucial for creating a safe space for open and authentic conversations.
• In a hybrid work environment, clarity, focus, and effective communication are even more critical for maintaining trust.

Quotes:

"If you have somebody in the organization, especially if they're the leader of the organization, where they're highly competent, they're a fierce problem solver, but they don't have at all any care for others, what people feel is a lack of trust."

"Trust is, by nature, it is relational. It is something that we have to have human-to-human contact in order for trust to be cultivated and strengthened."

You can watch this specific episode on our YouTube Channel here: https://youtu.be/JgpsQlZ8W3o

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This is the the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

The Accounting Influencers Roundtable (AIR) runs regular international virtual speed networking events to build your personal brand and make valuable industry connections network in the accounting, finance and tech world: Book your place at our next gathering here: https://accountinginfluencers.com/events

More Accounting Influencers content here:

https://www.youtube.com/@accountinginfluencers for all of our podcast episodes

https://www.linkedin.com/company/accountinginfluencers for our events and posts

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

TOA GLOBAL. TOA helps you hire elite talent for your accounting firm. Join thousands of leading firms empowering their teams with job-ready outsourced accountants & bookkeepers. They work to unlock your firm’s potential with strategic accounting outsourcing services. The "TOA Global Difference" is simple - build a flexible, scalable outsourced accounting team to align with your firm now and as you grow. Crush the talent crisis and outsmart your competitors by adding highly skilled accounting professionals to your firm faster. Permanently increase your firm’s capacity with a dedicated outsourced accounting team in weeks, not months. Access elite professionals and discover a hidden pool of elite accounting talent ready to enable your firm’s growth with additional capacity. Build a dedicated team of highly skilled outsourced accountants and bookkeepers for your firm today. https://toaglobal.com

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

The Accounting World is Bracing for a Talent Exodus - Are You Prepared?

A groundbreaking global study reveals a profession in turmoil, with widespread dissatisfaction threatening to drain the talent pool. In this hard-hitting solo episode, host Rob Brown unpacks the uncomfortable truths unearthed by the ACCA's (Association of Chartered Certified Accountants)  on global talent trends in the accounting profession. The study, based on data from nearly 10,000 accounting and finance professionals across 157 countries, reveals that many accountants are dissatisfied and unsettled in their roles. 

Rob delves into the reasons behind this dissatisfaction, including concerns over pay levels, work-life balance, and the impact of technology and AI on jobs.

The episode also highlights the growing desire for remote and hybrid work arrangements, with only 9% of employees at Big Four firms preferring to work in the office full-time. 

Rob emphasizes the importance of adapting to these changing workforce preferences to attract and retain top talent.

Key Takeaways:

• Only 57% of respondents work full-time in the office, while 8% are fully remote. (00:02:00)
• 75% of respondents said they go to the office because their employer requires it. (00:03:50)
• 34% of respondents at small firms and 38% at Big Four/mid-tier firms are unhappy with pay levels. (00:07:10)
• Inflation impacting salaries is the biggest work-related fear for 40-44% of respondents across firm sizes. (00:10:00)
• 46% of Big Four employees fear for their mental health. (00:10:20)

Quotes:

"Compensation is a big thing. Remote working is a big thing. The talent pipeline, people are leeching out of accounting once they're in it, and people are not coming into it in the first place." (00:16:20)

"It should be the governing bodies, but even the accounting leaders, the influencers all have a responsibility, we might say, to shape the profession and be an ambassador for the profession." (00:15:50)

You can watch this episode and more on our YouTube Channel: https://youtu.be/5rB_ATw-vOU

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Welcome to the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. To participate in our international virtual speed networking events for the accounting community, go to https://accountinginfluencers.com/events and book your place at the next gathering. Great to build your personal brand and make valuable industry connections.

In this episode of the Accounting Talent Podcast, Rob Brown and Jeff Phillips discuss the importance of effective onboarding practices for new hires in remote or hybrid accounting firms. They emphasize that a strong onboarding process is crucial for reducing employee turnover, increasing engagement, and ensuring long-term success for both the employee and the firm. 

The hosts share their insights and strategies for creating a welcoming and seamless onboarding experience, from setting clear expectations to fostering social connections within the team.

Jeff Phillips also shares a personal story that highlights the impact of a poor onboarding experience and how it can lead to disengagement and premature resignation. 

The episode provides a comprehensive checklist for accounting firms to implement a successful onboarding system, including assigning buddies or mentors, conducting regular check-ins, and ensuring new hires have clarity on their roles and the necessary resources to succeed.

5 Key Takeaways:

• The main reasons why knowledge workers leave a new employer within the first 100 days are lack of clarity about their job, not having the necessary resources to succeed, and feeling socially disconnected from the team. [00:06:30]
• Firms should consider starting new hires on Fridays rather than Mondays to create a more relaxed and enjoyable onboarding experience. [00:09:45]
• The first meeting with a new hire should focus on the company's vision, how the employee's role fits into that vision, and setting expectations for feedback and communication. [00:11:30]
• Assign a buddy or mentor to the new hire to serve as a guide, confidant, and problem-solver during the first year. [00:17:45]
• Conduct 30-day check-ins with new hires to ensure they have clarity on their job and have the necessary resources to succeed. [00:20:45]

Quotes:

1. "We need to have a system and a philosophy about making sure people get that social interaction that they need, especially if your hire is remote." [00:19:45]
2. "The turnover causes cascading issues inside the firm. A strong start reduces turnover." [00:26:30]

You can watch this episode and more on our YouTube Channel: https://youtu.be/38eDsO0u8B8

Onboarding Checklist from Jeff

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

On this episode of The Accounting Talent Podcast, host Rob Brown is joined by Jeff Phillips, CEO of Padgett Business Services and founder of AccountingFly, wherein they delve into the concept of "talent stacks" for accounting firms. Jeff explains how a talent stack is an integrated system that firms can use to efficiently and reliably deliver value to their clients by creatively combining different types of talent assets.

The discussion revolves around the ongoing talent crisis in the accounting industry, characterized by more job opportunities than qualified candidates. Jeff posits that the traditional approach to hiring is no longer sufficient and advocates for firms to embrace creative staffing solutions, including remote hiring, freelancers, and outsourcing.

Jeff highlights the significant advantages of remote hiring, citing statistics from his company, AccountingFly, which specializes in placing remote CPAs in firms across the United States. He emphasizes the cost-effectiveness, faster hiring timelines, and access to a broader talent pool that remote hiring offers.

Additionally, Jeff stresses the importance of incorporating freelance and interim talent into the talent stack, enabling firms to tap into the growing gig economy and address specific project needs or busy seasons without committing to full-time hires.

Lastly, Jeff explores the concept of outsourcing and offshoring, particularly leveraging talent from countries like India, the Philippines, and Mexico, where firms can access skilled and trained talent at a significantly lower cost.

5 Key Takeaways:

• The talent crisis in accounting is real, with more job opportunities than qualified candidates, forcing firms to explore creative staffing solutions. [03:30]
• Building a "talent stack" by combining different types of talent assets, such as remote hires, freelancers, and outsourced teams, can help firms deliver value efficiently and reliably. [01:00]
• Remote hiring offers significant advantages, including faster hiring timelines, access to a broader talent pool, and potential cost savings. [06:00]
• Incorporating freelance and interim talent into the talent stack allows firms to address specific project needs or busy seasons without committing to full-time hires. [11:00]
• Outsourcing and offshoring to countries like India, the Philippines, and Mexico can provide firms with access to skilled and trained talent at a lower cost. [16:30]

Quotes:

"The war for talent is over, and the talent won." "If you're not addressing freelance and interim as part of your recruitment strategy, you can't win the race for talent because you're leaving candidates an opportunity on the table."

You can watch this episode and more on our YouTube Channel

https://www.youtube.com/watch?v=prk7MAc8XaU

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Connecting employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Host Rob Brown is joined by Sue Coffey, CEO of Public Accounting at the American Institute of CPAs (AICPA), and Lexy Kessler, Partner at Aprio and Chair of the AICPA's National Pipeline Advisory Group (NPAG). They look into the alarming talent shortage facing the accounting profession and the potential solutions proposed by the NPAG.

Lexy and Sue discuss the overwhelming evidence pointing to a significant talent pipeline issue in accounting, including declining enrolment in accounting programs, fewer students pursuing the CPA credential, and challenges in retaining young professionals in their first five years of employment. But can the profession overcome this challenge? Rob, Sue, and Lexy explore the root causes, such as the profession's perceived image, the cost and time commitment of education, and the need for evolving business models at accounting firms.

The NPAG's findings underscore the urgency of addressing the talent pipeline issue collaboratively, involving stakeholders from academia, regulators, state societies, and the profession itself. Sue and Lexy share their optimism that by implementing the recommended solutions, the accounting profession can overcome this challenge and attract the talent required to thrive in an ever-evolving business landscape.

"We are a profession that communities, businesses, and economies need, and we just need to address our talent shortages and adapt." - Sue Coffey, [00:40]

"It's not just Debits and credits to that point. It's really about the business person piece of it and the different scenarios and the strategy behind the numbers as well. So there's much more to it than, than processing or, or producing a product and that's it. It's much, much more than that." - Lexy Kessler, [16:47]

Key Takeaways:

The accounting profession is struggling with a talent pipeline shortage, but it's not "withering on the vine" as some suggest. - Sue Coffey, [00:31]

Improving storytelling and celebrating the profession's impact is crucial to attract younger generations. - Lexy Kessler, [01:44]

The cost and time commitment of education, especially for socioeconomically disadvantaged students, is a significant barrier to entry. - Sue Coffey, 10:58]

Firms need to evolve their business models to provide a better experience for young professionals in their first five years, addressing issues like excessive hours and meaningful work assignments. - Sue Coffey, [11:46]

Modernizing the CPA licensure process is a long-term goal to ensure the profession remains sustainable and relevant in the future. - Lexy Kessler, [27:53]

You can watch this episode and more on our YouTube Channel

https://youtu.be/JaLe1nq9lk4

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Connecting employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Welcome to the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. To participate in our international virtual speed networking events for the accounting community, go to https://accountinginfluencers.com/events and book your place at the next gathering. Great to build your personal brand and make valuable industry connections.

On this episode of The Accounting Talent Podcast, host Rob Brown is joined by Jeff Phillips, CEO of Padgett Tax & Accounting Franchise and founder of AccountingFly, sharing thoughts about the alarming talent shortage facing the accounting profession and Jeff's concept of the "talent stack" as a potential solution.

The concept of a "talent stack" as the new organizational model for accounting firms. With accounting talent becoming increasingly scarce, firms need to rethink how they acquire, manage, and retain top talent. The talent stack philosophy focuses on sourcing talent globally, leveraging remote workers, freelancers, and offshore resources to fill essential roles predictably and reliably.

By adopting a talent stack mindset, accounting firms can overcome hiring challenges, access global talent pools cost-effectively, and build sustainable operations for the future. Don't miss this insightful discussion providing innovative strategies for firms to attract and retain the skilled professionals they need to drive growth and success in a rapidly evolving industry landscape.

“Culture, process, systems, and excellence are absolutely available inside companies where some of the people work in the headquarters. And some of the people don't,  it's not easy, but the case I'll make to you is this.  If you make this adjustment, you can win.” - Jeff Phillips

Key Takeaways:

1. The accounting profession was complacent in how it dealt with talent, and there's a reckoning happening now due to hiring challenges. [01:55]

2. College students are comparing accounting to fields like investment banking, consulting, and tech companies, which are outcompeting accounting for talent. [02:45]

3. The "talent stack" reimagines the organizational chart by identifying diverse talent sources (local, remote, freelance, offshore) at every level. [04:10]

4. Firms can tap into global talent pools, increase profit margins through cost arbitrage, and fill critical roles faster by finding the best fit. [07:20]

5. Integrating remote teams requires building a strong culture, values, processes and systems, supplemented with in-person engagement. [14:30]

You can watch this episode and more on our YouTube Channel

https://www.youtube.com/watch?v=EN5xAzK9cW8

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.