The accounting recruitment crisis: how practices are navigating the challenges

Attracting and retaining talent in the accounting industry has never been more challenging. With evolving job expectations and the rise of technology, 42% of accountants are turning away work due to staff shortages. It’s a tough situation, but it also presents a unique opportunity to rethink how we approach recruitment, development and retention in the sector. Here’s how a few accounting firms are tackling the challenge head-on. 

1. Rebrand accounting: it’s relationships, not just numbers 

For too long, accounting has been stuck with a stuffy, outdated image. Many still picture accountants hunched over a desk with nothing but a calculator for company. The reality, though, couldn’t be more different. 

Rachel Harris, founder of Accountant_she and striveX is on a mission to change how people see accounting. With the help of FreeAgent, she established the first corporate bursary scheme to fully fund five students through 12 months of their AAT studies. At the launch event, she was asked about the contributing factors to the talent shortage.

“I was told by a careers advisor at school not to become an accountant because it was so boring - so the driving force behind my brand is changing the image and stereotype of being an accountant.” - Rachel Harris

Eriona Bajrakurtaj, CEO of majors_accounts and volt_digital, is a mentor for the bursary recipients and also spoke at the event.

“We need a full rebrand to show people what accounting is and what we can do. It’s about building relationships and being a trusted advisor to business owners.” - Eriona Bajrakurtaj

The number of students going on to become fully qualified accountants is dropping, so refreshing the image of accounting could inspire the next generation to see it as an exciting career path rather than a monotonous office job. 

2. Bridge the skills gap

As experienced accountants retire, the skills gap continues to grow. But this isn’t just about filling vacant positions - it’s about ensuring new accountants are equipped with the skills needed to thrive in an increasingly digital and advisory-driven world. 

82% of accountants agree that client expectations are rising year on year. It’s no longer just about filing tax returns or calculating dividends - accountants are now being asked to provide business advice as a trusted financial partner. From digital transformation to sustainability, accountants are helping businesses make data-driven decisions using the latest tools.

To meet these expectations, accountants need to be more tech-savvy to support their clients. That includes understanding cloud accounting software like FreeAgent and how digital tools work together. To attract the right talent, firms need to highlight that accounting is about leveraging technology, improving efficiency and offering strategic advice that truly adds value.

3. Flexibility and competitive compensation 

A competitive compensation package is a great draw for candidates, alongside an easy application process. However, you need to provide more than an attractive salary. 

“There are accounting firms that try to cut corners, whether that’s by paying minimum wage or outsourcing. I built a seven-figure firm in my twenties because I did the things a lot of businesses aren’t prepared to do: paying people what they’re worth, paying above market rate, investing in a benefits package that offers private medical, all-inclusive holidays, and an opportunity to grow and learn in a way that other firms don’t.” 

Candidates are increasingly seeking work-life balance and expect more control over when, where and how they work. Practices that aren’t open to exploring flexible working options risk losing out on top talent.

The accounting recruitment crisis presents a real challenge, but it’s not without solutions. By rebranding the profession, embracing flexibility and investing in skills development, more students will be encouraged to become accountants.