Top Challenges? Staffing, Staffing, Staffing

PLUS: More trends and insights from annual operations and technology survey.

Top challenges facing firms, via the Accounting Firm Operations and Technology Survey
Top challenges facing firms, via the Accounting Firm Operations and Technology Survey

 

By Randy Johnston and Brian Tankersley
The Accounting Firm Operations and Technology Survey

Recruiting and retention have consistently been the top concern for the last two years, 33.6% of firms citing it this year, up from 28.8% of firms in 2019, according to the new Accounting Firm Operations and Technology Survey. Second place: Raising profitability at 23.4%. Third: Cybersecurity and data privacy at 22.4%.

Referrals – new clients who are referred to a firm by someone they trust – remain the top channel or source of new clients for firms. A higher percentage of firms report that they are receiving referrals from other sources, such as other professionals and firm website and search engine optimization, over each of the last three years.

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