Attracting and retaining the right talent in finance and accounting has emerged as one of the most pressing challenges for employers today. Amid growing competition and evolving market expectations, organizations are grappling with workforce gaps that threaten both short-term goals and long-term success.

Drawing insights from recent industry reports and surveys, we’re taking a look at the critical challenges faced by employers of finance and accounting professionals, plus actionable strategies to address these issues and why it’s critical for hiring managers to partner with experts to build resilient teams.

Critical Workforce Challenges in Finance & Accounting

Employers of finance and accounting professionals must navigate a complex landscape of hiring and workforce development challenges. Several studies shed light on the depth of these issues and their potential impact on organizational performance.

Key Issues Facing Employers

• A Gartner survey of 250 CFOs and finance leaders revealed that 18% of finance chiefs now see attracting and retaining skilled talent as their biggest challenge to enterprise performance in 2025.

• Deloitte’s first quarter 2025 North American CFO Signals survey further found that 50% of finance leaders are concerned about employee engagement, while 45% report a lack of skilled talent as a major obstacle to meeting organizational goals.

• A report by the Pennsylvania Institute of CPAs (PICPA) underscores a troubling paradox. While 75% of accounting firm leaders anticipate the same or increased staffing needs, 52% expect their teams to shrink by 20% in the next five years.

• Wolters Kluwer’s Future Ready Accountant Report revealed that 42% of firms struggle to attract the right talent, 40% face challenges retaining their workforce, and 41% identify attracting suitable talent as their primary concern.

Consequences of Talent Gaps

Widespread talent shortages are pushing teams to their limits, particularly in entry- and mid-level roles. Employees carrying excessive workloads often experience burnout, reduced productivity, and poor morale. According to PICPA’s findings, 47% of entry-level employees cite workload as a key barrier to career growth, while 34% point to a lack of internal training opportunities.

Deloitte’s report shows leaders are worried too. When asked to name their biggest worries related to pipeline concerns about accountants, increased workload for existing employees was the top response for CFOs.

The challenges extend beyond individual well-being. Gaps in workforce planning can lead to missed opportunities, stagnation in innovation, and misalignment between finance functions and broader organizational goals.

Addressing these gaps requires a shift in mindset toward proactive workforce planning, innovative hiring strategies, and investment in tools that streamline the recruitment process.

Strategies for Addressing Finance & Accounting Talent Shortages

To overcome hiring challenges, finance and accounting leaders are leveraging data-driven tools, adopting strategic hiring initiatives, and partnering with experts to identify the right talent for their needs.

Your Needle in a Haystack

The ability to assess candidates effectively has become an indispensable part of successful hiring strategies.

In an age when there are fewer accountants and yet HR managers are flooded with more applications every time they post a job, surface-level screening just isn’t getting the job done. Not only is it possible that candidates aren’t telling the full truth on their resumes, but HR managers are finding that qualifications such as advanced degrees aren’t translating into better performance. A survey of 1,000 U.S. hiring managers conducted by Resume Genius found 62% of hiring managers say performance is the same or worse between master’s degree holders and candidates with a bachelor’s degree and 2 years of experience.

Advanced assessment tools go beyond the resume, empowering employers to discover candidates’ hard and soft skills, and how they may fit within the existing culture.

Building Resilient Teams for the Future

To ensure long-term success, employers must adopt a strategic, forward-looking approach to workforce planning and development. This involves not only securing the right hires today but also building internal systems and processes that prepare teams for tomorrow’s challenges.

A commitment to professional development helps employers retain top performers and encourage growth within their teams. Initiatives such as mentorship programs, technical training, and leadership development are proven to enhance employee engagement and satisfaction. Investing in these efforts not only increases retention, building a pipeline of talent equipped to move into more strategic roles in within your organization—but it also serves as a powerful message to prospective employees that your firm is one where they can grow in the future.

By creating a supportive environment that prioritizes collaboration and well-being, organizations can strengthen employee loyalty and performance. That’s never been more important than it is now—when employee engagement has sunk to a 10-year low, according to Gallup.

Excel with Expertise

Partnering with a staffing firm provides a critical edge in the race to attract and retain top finance and accounting talent. Staffing experts bring industry-specific knowledge, access to extensive candidate networks, and advanced assessment tools to help organizations identify candidates who align with their goals.

By sourcing candidates who not only meet technical demands but also complement workplace culture, staffing firms can help employers improve employee engagement, reduce turnover and improve long-term outcomes. Leveraging insights such as salary benchmarks and market trends, staffing professionals also help employers make data-driven decisions—aligning their hiring practices with broader budget and organizational priorities.

Staffing firms offer a unique point of view, understanding what both employers and employees want in a successful relationship. By serving as an intermediary and helping each party understand the other at the outset of a relationship, staffing firms deliver increased satisfaction across the board.

This combination of expertise and efficiency makes staffing partnerships an invaluable resource in addressing workforce challenges.

Don’t Get Left Behind: Stay on Top of Finance & Accounting Hiring Trends

The landscape of finance and accounting hiring is growing more complex, but employers have an opportunity to rise above the challenges by leveraging data-driven tools and partnering with experts that can cut through the noise. Organizations that take a proactive, thoughtful approach to recruitment and retention will find themselves well-positioned to adapt to market demands and achieve long-term resilience.

If you’re ready to optimize your hiring strategy, Ledgent Finance & Accounting is here to help. We specialize in finding candidates with the right skills and cultural alignment, helping you build a team that drives success at every level.

Don’t miss the opportunity to gain deeper insights into hiring trends, retention strategies, and salary benchmarks. Request your market-specific 2025 Mid-Year Market Report today and stay ahead in the competitive talent market. Contact the location nearest you for more information.