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Embracing Trends in Accounting

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Accounting is a conservative profession by nature. Wise financial management and sound planning are typically built on a foundation of limited risk, careful calculation, and slow, thoughtful analysis before any form of action. But in our modern, digital world, no industry—and no individual business or individual career—can survive while clinging to risk aversion and fear of change. To keep up with rapid shifts in culture and technology, all successful enterprises must be forward thinking, and at this point, simply navigating the marketplace takes effort, courage and flexibility. And accounting is no exception.

If you’re still leading your firm and making your hiring decisions the way they were made ten years ago, you’re falling behind your competitors, whether you recognize this or not. Consider factoring the following trends into your daily staffing and management strategy.

Mutilingualism

In 2014, even small local accounting firms can grow overnight, and fast growth often involves taking on international clientele. Global firms understand the importance of cross cultural communication, and language skills are in high demand among both new grad candidates and mid-career accounting professionals.

Interpersonal Skills

Savvy managers recognize that as a hiring metric, attitude is now just as important as aptitude, if not more so. Look for candidates that can adapt to your culture and work easily with your target clients. As it happens, even higher-level accounting skills can be taught on the job, but people skills can’t. This is a prominent indicator of long term success.

Legal Experience

Accounting managers and HR pros are now actively searching for financial professionals with legal backgrounds. New regulations are sweeping through the industry, and candidates will have a stronger foothold if they understand how these changes will impact their clients and their professional responsibilities.

Software Access and Expertise

Clients are raising a cry for transparent, real-time information and complete, 24-hour access to their accounts. Can your firm keep up? If you can provide expert advice and around-the-clock support, you’ll keep pace with this growing expectation. But to do so, you’ll need tech-savvy candidates with access to tools that connect accounting systems with client business systems. And your teams will need to introduce clients to these tools and explain how to use them.

For more information on the trends that may have a powerful impact on the success of your firm, reach out to the financial staffing experts at Cordia.