By: Rick Amero

“The definition of insanity is doing the same thing over and over and expecting different results.” – Albert Einstein

In an era of increased importance on work-life balance and a drive towards homogenous career and life fulfillment, employers that recruit accounting talent must help shed the stereotype of cubicle number crunching. In a paperless, cloud-based, client-focused, and employee-driven world, there is an increasing battle for accounting talent that employers aren’t winning. Is your company facing the struggles of in-house accounting department turnover and rehires? Are your hiring managers repeatedly posting on the same job boards, continuously re-loading executive-level positions such as CFO and Controller, without results?

If this is a problem for you – AMP Services has the solution. AMP Services is an accounting, management, and professional services company. With AMP, you will be outsourcing your company’s accounting while still being completely involved. Not only will your financials always be at your fingertips, you will now have the freedom to focus your time on your business and the passions that began it. Let us focus on the accounting for you.

We at AMP Services want to help keep your company ahead of the curve.

For nearly a year now, the number of U.S. jobs open each month have been higher than the number of individuals looking for work. This is the first time this has occurred since the Department of Labor began tracking job turnover two decades ago. On the last business day of January 2019, the U.S. Bureau of Labor Statistics reported the number of listed job openings at 7.6 million. This is the most since records began in December 2000. Currently there are over 75,000 jobs posted for the Accounting category just on Career Builder, Indeed, LinkedIn, IHire Accounting, and alone. Over 79% of these jobs were exclusively at the executive level.

While job openings continue to rise in the U.S., the national unemployment rate (through February 2019) has dropped to 3.8%. This is the lowest unemployment rate since October of 1969. While the employment found in professional and business services continues to rise, there is a decrease within the CPA profession. AICPA expects more than 75% of today’s CPAs will retire within the next 15 years, many eligible as early as 2020. This is one of the highest percentages of any subgroup (within any other field) over the same timeframe. David Smith, founding director of Smithink, states, “The profession fundamentally is heading towards a big crisis of talent.” The accounting profession could be the first to reach the pending massive structural employment dilemma, signaling a drastic need to implement immediate and proactive changes.

Albert Einstein was one of the most significant scientific geniuses of the 20th century, and his quote on insanity rings true to those in many different circumstances. When it comes to finding key talent for your accounting department are your hiring managers guilty of Einstein’s definition of insanity? Has your company been caught in a continuous cycle of employee turnover and rehires in your accounting department? If so, AMP Services is here to solve that problem and would love to speak with you about partnering with us.

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Resource: The Balance – Unemployment year by year