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

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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...

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

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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...

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

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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...

Is your firm's technology driving away top talent? Are you leveraging modern tech to attract the best accountants?

Rob Brown sits down with Jeff Phillips to discuss the crucial role technology plays in recruiting and retaining accounting talent. They explore how a firm's tech stack can be a major factor in attracting or repelling potential hires, especially among younger generations who have grown up with advanced technology.

Jeff emphasizes that modern firms using up-to-date technology are more likely to attract the best talent. They discuss the importance of cloud-based solutions, remote work capabilities, and the integration of AI in accounting practices. The conversation also touches on the need for firms to embrace change and stay current with technological advancements to remain competitive in the talent market.

Key Takeaways:

✓ Technology is a major factor in attracting accounting talent

✓ Remote work capabilities are crucial for accessing a wider talent pool

✓ A firm's technology stack includes both accounting-specific and work-specific tools

✓ Cloud-based solutions are essential for modern accounting practices

✓ Embracing AI and new technologies signals a forward-thinking firm culture

Quotes:

"Modern firms attract talent, and to be a modern firm, you've got to embrace modern technology." - Jeff Phillips

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

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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...

Is your accounting firm struggling to find talent? Could freelancers be the solution you've been overlooking?

Rob Brown interviews Jeff Phillips, CEO of AccountingFly, about the critical role freelancers play in winning the war for talent in the accounting world. Jeff reveals that a staggering 30% of the labor force now identifies as freelance, and this trend is rapidly reshaping the landscape of knowledge work, including accounting.

Jeff introduces the concept of the "talent stack," a new approach to building modern accounting firms. This strategy involves compressing the traditional organizational pyramid and supplementing core full-time staff with offshore talent and freelancers.

Jeff also discusses three types of freelance arrangements: interim, fractional, and project-based, each serving different needs within accounting firms. Throughout the conversation, Jeff addresses common concerns about hiring freelancers, such as maintaining brand consistency and data security, while offering practical solutions to mitigate these risks.

Key Takeaways:

✓ 30% of the labor force identifies as freelance

✓ The "talent stack" concept for modern accounting firms

✓ Three types of freelance arrangements: interim, fractional, and project-based

✓ Mitigating risks when hiring freelancers through clear expectations and SOPs

✓ Freelancers as business owners seeking to build their brand and deliver excellent work

Quotes:

"You can't win the race for talent without hiring freelancers." - Jeff Phillips

"Your new talent stack is a combination of central full-time people who might be in the office or might be remote, supported by project-based freelance interim staff." - Jeff Phillips

SHOW DETAILS HERE

You can watch this specific episode on our YouTube Channel here: https://youtu.be/8q_TRj7-k6Q

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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...

Is the traditional office becoming obsolete for accounting firms? Are we witnessing the death of remote work, or is the push to return to the office shortsighted?

Rob Brown digs deep into the contentious issue of returning to the office in the accounting industry. He explores the rationale behind companies pushing for a return to in-person work, examining the belief that physical presence enhances collaboration, creativity, and company culture. Rob challenges these notions, highlighting the importance of flexibility and employee preferences in today's evolving workplace.

This episode offers valuable insights for both accounting firm leaders and professionals facing pressure to return to the office. Rob provides practical advice on how to navigate this transition, emphasizing the need for open dialogue, compromise, and a focus on outcomes rather than physical presence. He also discusses the importance of investing in remote work technology and support, as well as the need for accounting professionals to communicate their value and propose solutions that benefit both themselves and their firms.

Key Takeaways:

• Companies are pushing for a return to the office, citing benefits like improved collaboration and culture
• Open dialogue with employees is crucial before implementing return-to-office mandates
• Flexibility is key - consider hybrid models and staggered schedules
• Focus on outcomes and results rather than physical presence
• Accounting professionals should communicate their value and propose solutions when facing pressure to return

Quotes:

"Without your physical or mental health, nothing else in life has much flavor."

"Invest in your skills, keep them updated... regardless of where you work, your skills keep you relevant."

You can watch this specific episode on our YouTube Channel here: https://youtu.be/RJ1hWo3lKJ4

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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...

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...

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...