Across the industry, qualified accounting professionals are in high demand, surpassing availability and causing a critical shortage on a global scale. The repercussions of this scarcity extend beyond industries, impacting businesses’ ability to maintain financial efficiency and compliance.

Check out our Sourcefit Blog, as we dissect the global accounting shortage, providing insightful statistics and references, and unveiling Sourcefit’s transformative role in connecting businesses to world-class accounting talent.

 

The Global Accounting Talent Shortage: A Statistical Glimpse:

To comprehend the magnitude of the global accounting shortage, consider this:

In a Deloitte poll conducted in 2022, 82% of hiring managers overseeing accounting and financial roles in public companies and 69% in private companies acknowledged the challenge of talent retention.

AICPA reports that 75% of Certified Public Accountants (CPAs) reached retirement age in 2020, highlighting a significant demographic shift in the profession. This underscores the pressing need for strategic measures to address the ensuing talent gap and ensure a smooth transition within the accounting domain.

Amid this shortage, businesses grapple with the challenges of recruiting and retaining skilled accountants, often leading to operational bottlenecks and increased costs.

 

Sourcefit’s Strategic Solution: Connecting You to World-Class Talent:

Enter Sourcefit, a trailblazer in outsourcing solutions. In the face of the global accounting talent drought, Sourcefit offers a strategic remedy by connecting businesses with world-class financial professionals. Leveraging a global network of skilled accountants, Sourcefit transcends geographical boundaries, providing businesses access to top-tier talent without the constraints of the talent shortage.

 

Key Advantages of Sourcefit’s Global Talent Connection:

Unparalleled Access: Sourcefit’s expansive network ensures businesses have unparalleled access to a diverse pool of world-class accounting professionals, each bringing unique expertise and insights to the table.

Nearshore Excellence: Sourcefit’s nearshore capabilities offer businesses the advantage of accessing top-tier talent in geographically proximate locations. This not only enhances communication and collaboration but also addresses time zone considerations for a more seamless workflow.

Offshore Solutions: Sourcefit’s offshore operations provide a cost-effective avenue for businesses to tap into skilled accounting professionals without the constraints of local talent shortages. The offshore model ensures a high level of expertise while significantly reducing operational costs.

In the wake of the global accounting talent shortage, Sourcefit is ready to not only address the skills and labor scarcity but to revolutionize your approach to sustainable talent acquisition. The statistics paint a stark picture of the challenges businesses face, emphasizing the critical need for innovative solutions.

 

Contact us today for your risk-free, obligation free consultation!

 

To learn more about outsourcing, you can read our Top 8 Qualities of an Outsourcing Company in the Philippines article.

We invite you to follow us on social media and to visit our website to learn more about Sourcefit – your outsourcing partner.

About Us

Sourcefit – your preferred accounting service provider – is a widely recognized US-managed business process outsourcing company based in Manila, Philippines. We proudly serve over 100 clients with a workforce of more than 1,300 employees. Our global centers can serve multiple markets, and our staff is highly proficient in English, Spanish, French, and Portuguese. Whether you need a few or many employees, we can help you achieve your business goals and build high-quality offshore teams.

Latest Awards

Sourcefit’s commitment to excellence has been recognized through numerous industry awards and certifications.

We recently received the Fortress Cyber Security Award from the Business Intelligence Group. Sourcefit was also honored with the prestigious recognition of Best Outsourcing Solutions Provider in the Philippines during the 2023 Business Excellence Awards.

Other awards include: FT ranking of 500 high-growth Asia-Pacific, The Marketing Excellence Awards, Inquirer Growth Champion,  HR Asia Awards, among others.

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Not sure where to start? Connect with us and see how Sourcefit can help you grow your business.