Staffing Shortage Cripples Growth at 40% of Firms

On the frontlines: About 64% of firms surveyed globally by CPA Trendlines are scrambling for new hires.

In the U.S., tax and accounting firms are adding jobs at a robust 7% rate, but that’s still short of what’s needed.

By Beth Bellor

From Arizona to Zimbabwe, and Dublin to Cinncinatti, tax and accounting firms are telling CPA Trendlines that they are so short of staff they’re turning away new business.

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The scramble for talent is global and it’s forcing fundamental changes in how accountants do business.

Reports are coming into CPA Trendlines from around the world and they are dismally similar:

  • Tucson, Ariz.: At R&A CPAs, chief recruiter Nancy Allison says they’re turning to “hiring fully remote employees, making fully remote and hybrid work permanent for existing team members, and utilizing outsourced services for tax preparation assistance.”
  • Marondera, Zimbabwe: Accountancy consultant Billy Ndlovu tells CPA Trendlines they are turning away new clients even as they battle the COVID upheavals that are “changing how we do things.”
  • Dublin, Ireland: Anthony Casey at Noone Casey is staying ahead of the curve by finding productivity gains in remote working and picking up new staffers with specialty skills.
  • Cincinnatti: Back in the U.S., Rick Kruse at Kruse & Crawford is turning to new technology even as they trim their headcount.

CPA Trendlines polling shows about 64 percent of firms are seeking to add additional staffers, even as 60 percent of firms are turning away new work due to the crippling shortage of new hands.