For many aspiring accountants, public practice recruitment offers a dynamic and stimulating launchpad to their careers. They learn the ropes of accounting, refine their technical skills, and gain valuable experience with a diverse range of clients. However, a concerning trend has emerged: a shortage of experienced staff in senior roles within public practice.
This exodus often coincides with the moment when accountants reach the skills and experience that make them highly valuable assets. The reason? Many transition to commercial roles in industry.
Why the allure of commercial?
The appeal of commercial roles is multifaceted. Firstly, compensation packages tend to be more attractive, offering higher base salaries and often lucrative bonuses tied to company performance.
Secondly, commercial roles typically involve less client interaction and a more focused dedication to the success of a single business.
This introspective approach can hold significant appeal for accountants who value stability and an in-depth understanding of a specific industry.
The client’s frustration
From a client’s perspective, this shift in career trajectories presents a major challenge. They invest in recruiting talented individuals, only to see them leave for commercial positions after just one or two years.
This constant churn can be incredibly frustrating. Clients pay top dollar to secure experienced staff through recruiters, only to find themselves back at square one with a critical role unfilled.
There’s also the concern that recruiters haven’t fully understood their long-term needs, leading to a distrust of the recruitment process overall.
Finding the right fit in Public Practice Recruitment: A collaborative approach
At Abacus, we understand the importance of aligning the right candidate with the right opportunity. That’s why we take a proactive approach to understanding the career aspirations of both our clients and candidates. Here’s how we bridge this gap:
Unveiling Career Goals: We go beyond simply matching resumes to job descriptions. We engage with candidates in in-depth discussions to uncover their long-term professional goals. What are their motivations? Where do they see themselves in five or ten years?
Career Path Transparency: We offer free career path advice and strategies to our candidates. We believe in empowering them to make informed decisions about their future. This includes a candid conversation about which sector best aligns with their aspirations, whether it’s public practice, commercial, or government.
Building Long-Term Partnerships: By understanding the long-term aspirations of both clients and candidates in public practice recruitment, we connect the dots and foster meaningful connections. This ensures we’re putting the right opportunities in front of the right people. This approach minimizes churn and creates a long-term benefit for everyone.
Strengthening Your Team: By placing a premium on long-term career fit, we help you build a stronger, more cohesive team within your public practice firm. Experienced, motivated staff with a long-term vision will bring stability and expertise to your operations, translating to better client service and overall success. ]
Public Practice Recruitment: Investing in the Future
The talent shortage in public practice recruitment is a real issue, but it’s not insurmountable.
By working with a recruitment partner who prioritizes career fit and fosters collaboration, you can attract and retain the talent you need to thrive.
At Abacus, we believe in creating win-win situations for both clients and candidates. Let’s work together to build your dream team and shape a successful future for your public practice firm.
Author: Madeleine Knudsen
Recruitment Consultant, Public Practice
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Abacus Human Capital: Level 2, 10 Market St, Brisbane, Qld, 4000
T: 07 3135 9780 D: 07 3135 9782
E: [email protected]
W: www.abacushumancapital.com.au
