Biggest Challenge - Staffing within CPA Accounting Firm - Attracting Talent

Here are key reasons why accounting firms are experiencing staffing issues today, based on industry data and trends:

1. Retirement of Baby Boomers

A large portion of experienced CPAs and senior staff are reaching retirement age. As they exit the workforce, firms are losing decades of institutional knowledge, client relationships, and leadership—creating a gap that younger professionals aren’t filling fast enough.

2. Decline in CPA Exam Participation

Fewer accounting graduates are taking the CPA exam. In fact, recent years have seen a significant drop in the number of CPA candidates, driven by:

• The 150-credit hour requirement (seen as burdensome)

• Limited ROI for taking the exam in some roles

• Competition from other career paths like finance or tech

3. Perception of Accounting as Unappealing

Younger generations often view accounting as rigid, outdated, or lacking creativity compared to other professions. Despite being lucrative and stable, it lacks the excitement or flexibility of careers in tech, marketing, or entrepreneurship.

4. Increased Demand for Flexible Work

The pandemic reshaped workplace expectations. Many professionals now expect remote or hybrid work, flexible schedules, and better work-life balance. Firms that cling to traditional office hours or seasonal overtime models are struggling to attract younger talent.

5. Burnout and Workload Pressures

Heavy workloads during tax season, long hours, and constant deadlines contribute to high stress and burnout—especially at larger firms. This causes younger professionals to leave public accounting for roles in private industry, where the pace is often more sustainable.

6. More Career Options for Accountants

Today’s accounting grads have more options than ever:

• Tech startups

• Financial advisory and consulting

• Business analytics

• Private equity-backed finance teams

These roles often offer higher pay, equity potential, or better lifestyle perks—drawing talent away from traditional firms.

7. Lack of Clear Advancement Paths

At many small and mid-sized firms, staff see limited opportunities for growth or ownership. Without a visible path to partnership or leadership, employees may jump ship to firms that invest in career development and long-term incentives.

8. Weak Employer Branding and Online Presence

In a competitive hiring market, many accounting firms are invisible online. Without:

• Strong Google Reviews,

• A compelling website,

• Or a dedicated careers section…