The accounting industry is notoriously busy. The goal is to save clients money, which involves many moving parts (especially during tax season).
While trying their best for their clients, accounting firms often struggle with human resource management. This can easily fall through the cracks until a major problem comes up.
In the same way that a reactive approach is not best for money, it's also not the best for HR needs. Instead of waiting for a big issue, accounting companies should identify and prevent common HR challenges.
Accounting businesses, including CPA firms, face several HR challenges. From managing talent to navigating complex employment laws within a changing landscape, coping with these issues can be difficult.
At the same time, accounting companies must also navigate dynamic financial regulations and tax codes for their clients. Identifying and resolving common HR issues is the best way to prevent these problems from interfering with the core accounting activities.
In this guide, we'll review some of the top HR challenges in the accounting industry and how reliable HR software can help.
Staff management can be a top challenge for accounting firms. Hiring and managing staff is a specific skill set that accountants may need to have. Additionally, not all accounting businesses can afford to hire a dedicated HR professional to handle hiring or training.
The demand for qualified accountants exceeds the supply, making it very difficult to hire new staff. Skill shortages are an issue, but the lack of quality hiring processes only amplifies the challenge. Ineffective recruitment and hiring practices plague many accounting businesses.
The hiring process is expensive, requiring a lot of money and time. Streamlining talent search and acquisition with software can help you attract and hire the right people.
How Moonworkers Can Help
Our Talent Directory is one of the most helpful tools for hiring new accounting talent. You can search, contact, hire, manage, and pay new contractors to fill in the gaps. Furthermore, while a team member may start as a contractor, employment opportunities could open up further down the line.
The Talent Directory facilitates prospect chats, helping you assess a large pool of potential employees. This assists in hiring, as you can thoroughly vet potential candidates. Should you identify a qualified candidate, you can enter them into your HR and payroll with only a few clicks. In addition, we offer a talent guarantee, ensuring that we've carefully screened all contractors before showcasing them.
Hiring is the first step, but after you hire a new employee, you need to help them transition to the role. The accounting industry is a highly specialised field. Bringing on new team members is difficult for this reason.
HR must identify potential talent, but without the proper training infrastructure, even a good hire can become a flop. Likewise, accounting businesses must ensure that all workers receive the appropriate training and tools to complete their jobs.
Onboarding is a critical step in bringing on new talent. But handling this amongst a busy client load can take time and effort.
Training talent is just as important as identifying it. You can avoid many issues with proper onboarding and set your employees up for success. In the end, sufficient training helps both the employee and the company.
How Moonworkers Can Help
Managing an accounting team is a challenging task. Ensuring everyone understands their responsibilities and follows the correct procedures is vital for the customer experience. Delays or failure to follow the guidelines can lead to severe problems for accounting clients.
Automated onboarding workflows on Moonworkers help to prevent these concerning issues. You can create different workflows based on the specific position, ensuring that each person understands their responsibilities and is on the same page. This feature generates onboarding checklists, new hire paperwork, and more. Customising your workflow is fast and easy. Leverage our standardised templates and add the tasks.
Include specialised training and overall company procedures to set employees up for success. Easily monitor your team's progress with a single dashboard and identify any workers needing help or additional training.