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Accounting Firms Should Hire Differently In 2020

December 11th, 2019

As the saying goes, "Every obstacle is an opportunity in disguise," and that's just how CPATrendlines described a look ahead at the challenges CPAs will face next year.

Headlined "2020 Outlook: Top 5 Emerging Risks for CPAs," the article carries a subhead that declares them to also be, "The top five emerging opportunities, if you handle them right."

navigating risks obstacles

Written by an EVP at Aon, the article hits on the risks posed by rushed infrastructure and program expansion, cybersecurity, reputation management and legal claims. Identifying and managing risks is, of course, a primary Aon service.

But the fifth risk is all about the challenges posed by the shrinking talent pool and the need for accounting firms to think differently about hiring. "Successful firms are recognizing that nontraditional, intellectual talent can pay off both internally and externally," says writer Ken Mackunis.

He also warns against neglecting current employees. "A focused retention plan can help increase employees’ tenure, identify rising stars to groom, and alleviate some of the client risks tied to staff turnover. Taking steps to ensure that current employees feel supported and appreciated needs to be a priority."

Between looking beyond the traditional accounting grads and nurturing your existing talent, "It will benefit your firm in the long-term."

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