Our latest analysis revealed a striking trend in the U.S. accounting industry – while remote job postings have declined, the demand for these roles remains robust. Specifically, Certified Public Accountant (CPA) job postings saw a significant drop, with a 24.4% decrease across the U.S. and a more pronounced 31.2% decline for remote roles when compared to July 2023.
Despite the decrease in available positions, the number of job seekers remained stable nationwide, at 101.8% of last year’s total. Notably, interest in remote CPA roles actually grew, with job seekers increasing to 118.3% of the previous year’s total.
In light of these trends, we have detailed below practical advice for both candidates and firms, ensuring that both job seekers and employers can effectively adapt to the changing market conditions.
Why is remote work so popular in accounting?
Remote work has gained significant traction in the accounting industry, largely due to its positive impact on work-life balance and overall job satisfaction. Accounting professionals, especially during peak periods like tax season, often face long hours and high stress. The flexibility of remote work helps mitigate these challenges, offering a reprieve from the intense demands of the job.
In fact, a 2021 report found that nearly half (48%) of tax professionals working remotely experienced improved well-being and 38% reported better work practices. This growing preference for remote and hybrid work models reflects a broader shift within the industry, as accounting professionals increasingly seek careers that offer flexibility and a healthier work-life balance.
Advice for candidates seeking remote public accounting roles
1. Resume stability is key
In today’s competitive job market, resume stability has become increasingly important, especially for those seeking remote roles in public accounting. Our expert team has observed that candidates with resumes showing multiple short-term positions – typically one year or less with each firm – may face challenges. If remote work is your priority, demonstrating long-term commitment and stability in your career could significantly improve your chances.
2. Weighing the costs and benefits
It’s crucial to consider the potential downsides of remote work, particularly in the early stages of your career. Our public accounting recruiters often have candid conversations with candidates about the value of in-person interactions for learning and professional growth.
Ben Wilson, a partner and vice president at AdamsBrown, emphasizes – “The work is the easiest part to do remotely. It’s everything else that’s hard.” In short, the real challenge lies in replicating the benefits of face-to-face learning, teamwork and socialization. Technologies like Teams or Zoom can bridge the gap, but there’s no true substitute for being in the office.
3. Flexibility vs full remote work
While many candidates are drawn to the idea of remote work, our recruiters have found that increased flexibility might be a more realistic and satisfying option. Our team invests the time to truly understand each candidate’s motivations in order to match them with the right firm and opportunity. In many cases, flexible working arrangements may provide a better balance between professional and personal needs.
Advice for CPA firms looking to hire
1. Prioritize flexibility in your work arrangements
When crafting a successful recruitment strategy, offering flexible working arrangements has become a key differentiator. In a recent report, CPA firms ranked flexibility – such as hybrid working options and flexible hours as their third most important recruitment tool; following candidate fit and competitive salary offerings.
Our team works with many firms that have embraced initiatives such as offering staff fridays off during the summer months or setting core working hours between 10:30am to 3:30pm. These policies have been positively welcomed by employees, proving particularly attractive to those who manage long commutes or have family caregiving responsibilities.
Additionally, consider whether your firm could accommodate remote work for the right candidate. While this may not be feasible for every firm, embracing remote or hybrid models can help attract top talent and expand your pool of potential candidates. Thomson Reuters recently reported that of the 41% of accounting professionals either actively seeking or planning to look for new opportunities in early 2023; nearly two-thirds (63%) were interested in hybrid roles, with 47% preferring fully remote positions. This highlights the growing importance of offering flexibility in today’s job market.
2. Enhance your office environment
While flexible work options are crucial, the importance of a positive office environment shouldn’t be overlooked. Interestingly, among the 90% of companies planning to enforce return-to-office policies by the end of 2024, over half cited employee well-being (57%) and retention (55%) as primary motivators.
Many accounting firms are not only maintaining but also expanding their office spaces in 2024. For example, LMC has doubled its office space from 15,000 to 30,000 square feet, creating a more modern and welcoming environment. Partner Ephraim Fishman emphasized that the new office, spread across two connected floors, fosters greater team cohesion compared to the previous setup on five separate floors.
Moreover, a 2022 Unispace poll revealed that Gen Z employees, often stereotyped as “digital-only,” are motivated to return to the office if it means access to training (80%) and working alongside their full team (80%). Commenting on the findings, Stuart Finnie noted that while younger workers are equipped with the technology and digital skills for long-term remote work, they highly value the opportunities for collaboration and support that a physical office provides.
By balancing flexible work options with a supportive and engaging office environment, CPA firms can position themselves as employers of choice in a competitive market.
Work with Distinct
If you’re an Enrolled Agent or CPA considering your career options or interested in staying ahead of market trends, our public accounting recruitment specialists offer a free, candidate-focused service. Similarly, if you’re a top CPA firm seeking guidance on how to attract the best talent, our team can help. Contact us today.
