CPAs are always in demand. Though the industry is changing, firms are hiring and that means great candidates are in a strong negotiating position. If you’re currently seeking new hires for your accounting operation, then you need to be able to sort through applications effectively and - once you’ve identified your ideal candidates - make applicant offers that will secure their commitments.
Here’s what to look for on incoming resumes, and what to offer in return, if you hope to hire top notch staff.
Applicant Assessment
As CPA applications land in your inbox, there are several things you should look for. First, and most essentially, you’ll want to ensure that resumes boast necessary certifications, such as having passed the CPA exam, but that alone isn’t enough. Top applicants for any financial career will have completed internships in the industry, providing real life experience and opportunities to network. For recent college graduates, their coursework should also reflect the role they’re applying for.
Returning to the matter of the CPA exam, one positive indicator that recruiters should look for on applications is completion of a CPA exam prep course. What’s the value of this? Taking an exam course is an indicator of an applicant’s commitment to advancing their skills and knowledge beyond their basic education. It can also indicate that this is an applicant who will take advantage of opportunities for upskilling later on in their careers.
Upgrading Your Offer
Once you’ve evaluated the applicant pool, it’s time to start making offers - but the types of offers that successfully drew top CPAs in the past may not work so well anymore. Instead, given how competitive the market is, accounting firms need to offer more enticements, and one of the most successful strategies is to revamp your company’s benefits package.
What makes a standout benefits package? For CPAs, this means offering more than just health insurance and a retirement plan. Rather, in addition to these basics, many accounting firms offer wellness programs, educational opportunities, and financial incentives for performance beyond traditional end-of-year bonuses. In addition to encouraging strong performance throughout the year, these types of incentives can also drive employee loyalty.
Another important element to consider when making offers to CPA candidates is how you make it. It’s not enough to offer a better benefits package than your competitors - you also need to move quickly and be enthusiastic. You are selling your company to these applicants, and you need to demonstrate how much you want them to to join the team and why they’re the right fit. Often, there isn’t much room to wait on job offers, so if another company gets to your top pick first, you could lose out.
A Changing World
Finally, as you navigate the world of new CPA hires, it’s important to look at the composition of your operation. One thing that accounting firms are notoriously bad at is attracting and retaining a diverse staff. If everyone on your hot hire list looks the same and shares a common background, then you’re overlooking whole populations with valuable skills. What is causing your recruitment team to filter out minority applicants? Take some time to evaluate what’s happening and redress those issues - and then build out your offerings, like internships and outreach programs, to foster young people interested in the industry.
Hiring CPAs is a competitive undertaking, but it’s also worth examining whether you’re reinforcing bias in the industry with your recruitment strategy. Keep an open mind and pay attention to the field’s shifting norms. You can build a powerhouse team without replicating historic bias.
