Is money the solution to the accounting profession's talent crisis? How are major firms investing billions to attract the next generation of CPAs?

Rob Brown shares the transformative trends reshaping the accounting industry. He explores how leading firms like Ernst & Young, PwC, and KPMG are making massive investments in technology, particularly artificial intelligence, to attract top talent and revolutionize their services.

Rob Brown discusses the billion-dollar commitments made by these firms to integrate AI, increase starting salaries, and create dynamic work environments that appeal to tech-savvy younger generations. He emphasizes that this shift isn't just about staying current - it's about leading the way in client service and empowering teams with cutting-edge tools. The episode also touches on the broader implications for the accounting profession, including the need for upskilling, the evolution of accountants' roles, and the importance of work-life balance in attracting new talent.

Key Takeaways:

✓ Ernst & Young is investing $1 billion over three years to attract the next generation of accountants

✓ PwC has committed $1 billion to generative AI and became the largest customer of OpenAI's ChatGPT Enterprise

✓ AI integration is seen as a solution to automate routine tasks, improve audit accuracy, and provide deeper data insights

✓ The accounting profession faces declining numbers of graduates and high turnover, making AI adoption crucial for talent attraction

✓ As AI takes over routine tasks, accountants are pivoting towards roles requiring more analytical thinking and advisory skills

Quotes:

"Our investment in AI is not just about staying current. It's about leading the way in how we serve our clients and empower our teams."

"This is not a static profession. This is not an old fuddy duddy profession. This is alive. This is fluid. This is rapidly changing. This is engaging. This is exciting."

SHOW DETAILS HERE

You can watch this specific episode on our YouTube Channel here: https://youtu.be/pyWB7GCELrI

___________

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...

Rob Brown sits down with Jeff Phillips to discuss the challenges and opportunities of remote and hybrid work environments in the accounting industry. Jeff, drawing from his experience as a CEO managing remote teams, shares valuable insights on how firms can not only maintain but increase productivity with remote staff.

The discussion explores into the shift from traditional office-based work to hybrid and remote models, addressing common concerns about productivity, trust, and company culture. Jeff emphasizes the importance of adopting the right mindset and implementing effective systems to ensure work gets accomplished, regardless of physical location. He introduces concepts like asynchronous communication and project management tools that can revolutionize how accounting firms operate in a digital age.

Key Takeaways:

✓ Remote work can lead to increased productivity when structured correctly

✓ Shifting from a "see you to trust you" mentality to a results-oriented approach is crucial

✓ Asynchronous communication can enhance efficiency in accounting tasks

✓ Project management tools are essential for tracking productivity in remote teams

✓ Regular "office hours" and personal check-ins can maintain company culture in remote settings

Quotes:

"Don't even look at the technology until you've defined your philosophy about how we're going to communicate."

"Running a hybrid team is challenging. Yet, if work is structured correctly, it frees your team to be more productive than they are today."

You can watch this specific episode on our YouTube Channel here: https://youtu.be/-HWA_QBJP5Y

___________

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...

Rob Brown talks about the challenges facing the accounting profession in attracting and retaining new talent. He explores the declining interest in accounting as a career choice, the perception problems plaguing the industry, and the barriers to entry that discourage potential candidates.

Rob Brown also discusses how the outdated image of accountants as boring number-crunchers persists, despite the evolving nature of the profession. He highlights the need for a more realistic portrayal of modern accountants as strategic decision-makers and leaders in finance. The episode also touches on the financial burdens, work-life balance issues, and job satisfaction concerns that make accounting less attractive compared to other fields like finance and technology.

Key Takeaways:

✓ The number of students graduating with accounting degrees is declining globally

✓ There's a debate about the relevance of traditional degrees in today's rapidly changing job market

✓ The accounting profession suffers from an image problem, often portrayed as boring and unexciting

✓ Modern accountants play vital roles in strategic decision-making and leveraging new technologies

✓ Work-life balance and job satisfaction are major concerns for potential accounting candidates

Quotes:

"We must do a better job of marketing ourselves. We need to showcase the value that accountants bring to businesses and society at large."

You can watch this specific episode on our YouTube Channel here: https://youtu.be/404LmV-ZL68

___________

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...