Distinguish your Accounting Business in a Competitive Hiring Environment

[author: Mark Ferris]*

Accounting businesses need people to serve Clients and grow. Some will hire full or part-time team members, subcontract and/or offshore their work.

In any case, to attract the best candidates, the Accounting business needs to stand out from the competition. This is even more important as fewer graduates enter the profession and attitudes to work evolve rapidly.

We asked some recent graduates (located in the USA, Canada and Australia) what attracts them to Accounting businesses as potential employers and to provide some examples. Here’s a summary of their feedback.

An employer with resilience

Potential employees prefer to ‘avoid employment uncertainty’, especially early in their careers.

Lesson: Show how your business has weathered the storm (or even thrived) in tough times (without reducing the team).

Example:

• A Miami-based firm states clearly (on their website and in interviews) how they have emerged stronger through tough times, not only by hiring but also by completing an acquisition.

• The CEO and founder presents (in a video message) this journey and aggressive growth plans to give confidence in the future of this business.

An employer which stands out

Opportunities to stand out include services, clients, working conditions, the culture, values, etc.

Lesson: “How are we different?” is a key question to address throughout the recruitment process.

Example:

• A South Carolina firm emphasises “family values” as a differentiator. They describe how their business has thrived under three generations of the same family and refer to many family businesses they serve.

• A firm in Houston, Texas differentiates themselves based on their focus on the entertainment industry and their numerous celebrity clients.

An employer offering attractive compensation and benefits

Applicants will probably consider several job offers and evaluate compensation in the short and long-terms.

Lesson: Know that compensation is important but means different things to different candidates. Tailor packages accordingly.

Example:

• An accounting business in Seattle, Washington offers a ‘path to partnership’ program whereby employees can enroll to receive guidance and training to prepare them for partnership.

• Although a small percentage actually go on to partnership, this can be appealing to job seekers.

An employer which is flexible and responsive

The (smaller) size of firms allows flexibility in terms of rules and policies.

Lesson: Emphasise that you are flexible as an employer (while still maintaining good processes and discipline).

Example:

• A firm in Chicago, Illinois advertises their considerable flexibility on Work from Home and Flexible Working policies while also maintaining a convenient office for staff who need those facilities.

An employer which offers advancement opportunities

Includes formal training but also exposure to new opportunities in a growing, dynamic business.

Lesson: Demonstrate how people learn in your business both through your professional development activities and because of your bold, innovative approach.

Example:

• An accounting business in Sydney, Australia has a track record of buying other firms and plans to continue growing by acquisition.

• When recruiting, they highlight opportunities to be involved in new, challenging projects such as business transactions or helping to integrate acquired firms.

A successful employer

Candidates want to feel proud of their employer.

Lesson: Highlight achievements like growth, a good reputation, significant clients, industry leadership, prominent partners, a track record of innovation, community service, etc.

Example:

• A firm in Boston, Massachusetts won a large government contract in the healthcare sector.

• This led to establishing a leadership position in a complex area of that industry.

• One partner is an advisor on various government panels while another has published papers in this area.

An employer which takes a long-term view

A firm that hires entry-level candidates so they can be groomed for long-term success in a growing, vibrant, stable organisation is attractive.

Lesson: Emphasise long-term commitment to employees since this will attract more loyal employees who want to develop their skills as the firm grows.

Example:

• An accounting business in Melbourne, Australia commits to (partially) funding tertiary education for certain accountants, especially with a business focus (like an eMBA).

• This develops skills, increases retention and attracts employees who want to continue investing in their education.

How does your business stack up on these criteria? A small tweak in your messaging may yield significant results.

*Panalitix