OUTLOOK & ANALYSIS

Fresh Data Spell New Staffing Issues at Tax & Accounting Firms

cpa trendlines jobs reportHiring and wages are up. Utilization rates are down.

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By CPA Trendlines

Most workers in the tax and accounting industry are working fewer hours than a year and a half ago, according to CPA Trendlines sources, a potentially troubling sign of unsustainable hiring and management practices.

In addition, year-over-year increases of 5 percent or more were seen in

  • number of overall staff;
  • number of CPA firm employees, both total and staff;
  • payroll staff;
  • and women overall, at CPA firms and in payroll

The really bad news comes in payroll agencies, where positions are at their second highest level ever, but wages are plummeting.

With the new data, the monthly CPA Trendlines Jobs Report projects a new surge in turnover with the end of busy season. There will be winners. And there will be losers. Savvy, growing firms will be well-positioned to attract the under-leveraged talent that slow-footed firms can’t handle or afford. Top talent will be making lateral moves, as much for more supportive cultures and future opportunities as for a quick pay increase, according to the CPA Trendlines analysis.

In this report, CPA Trendlines provides additional detail and analysis on:

  • current hiring trends in each of the CPA, tax preparation, payroll and bookkeeping segments of the industry;
  • average hourly wages for key segments;
  • average hours worked per week;
  • and trends concerning women in the accounting workforce.