Key Challenges of Hiring an Accountant for Your Business

Keeping financial conditions healthy is one of the primary responsibilities of every business. Every single penny earned and paid from the business side is kept recorded in bills and payroll to pay taxes on time. The whole task lies on the shoulders of the company’s accountant or chief financial officer. They care for all your transactions including employment and deployment of funds in the right direction.

But, choosing the right candidate as your business accountant is not an easy job. It’s the biggest challenge companies, especially when there is a shortage of talent. For this, profile one needs to be well-versed with the latest technology, tax slabs and strategies formulation like Business Accountant in Gold Coast. Here we have a list of some more challenges faced by the business while hiring Accountant.

Challenges Faced By Companies in Accounting Recruitment

There are major 3 key challenges faced by companies

• Shortage of Talent

Today, finding the right candidate for the job becomes the biggest hurdle. Because organisations are getting difficulty to meet the right candidate that can deal with changing and emerging business roles. Therefore, when things come to fill this designation lack of applicants, inadequate qualification and experience, shortage of software knowledge are some of the most common issues arises. All these become a major cause of unfulfilled openings.

• Attracting candidates with the right skillset

The advancement in technology has changed the accounting sector a lot. A large number of vacancies came out to meet accounting and financial requirements in offices around the world. On the same side, companies are also looking for candidates who can do more than just crunch numbers. So, in order to fulfill all the company's requirements, the candidate needs technology experience and good people skills. Only a few candidates are able to find and meet with changing business scenario. As a result, almost 90% of people chief financial officers in Australia are struggling to find skilled finance executive as a staff.

• Attracting millennial employees

The majority of senior finance professionals believe that recruiting millennials in their organisation is the biggest challenge for their business. Because they lack experience or adequate skills. And companies need to provide the training to complete their job effectively. In addition, understanding the millennial generation, considering their values, expectations from career, employer and job are the biggest challenges for every concern. 

How to Deal the biggest challenges in accounting

To deal with this major issue, here we have some simple tips to consider while hiring an accountant:

• Write precise job descriptions

While making a call for an accountant for your office, it is advisable to add short detail regarding qualification, experience, software knowledge, and other required skills. This will automatically scrutinise your list and you can get the best candidate for an interview. 

• Leverage Employee Referrals

Taking employee referral is the best way of hiring the right candidate. Your present employees know about the company and work culture. Therefore, they suggest an appropriate person for the profile. In addition, companies can offer a reward to employees for every employee referred. 

• Use Social Media

Social media is an open job position on social media. where you can put your company advertisement and invite interested candidates. 

• The Best One: Hire Accounting Firm

If you want to eliminate all the troubles of finding and hiring a professional accountant. The best one is to hire a professional accounting firm that can work for your company. Firm record and maintain all your business transactions and file returns too. There is no need for testing and trying over a different accountant. You just need to make an appointment with the best accountant gold coast for quality accounts services.