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accountants and bookkeepers

5 ways to attract and retain talent in the accounting industry

70% of Australian accountants have struggled to hire ‘good quality people’ over the last year and just over half say they would recommend young people to enter the industry, according to new Intuit QuickBooks research released recently. 


But while the majority of accountants (83%) believe negative perceptions of the profession are a challenge for attracting and retaining talent, it comes at a time of renewed optimism within the industry, with 60% stating they expect their client list to grow over the next 12 months.  

Combating the Challenges


According to seasoned accountants in Australia, when it comes to attracting and retaining talent, the top five most effective ways include:


  1. Offering opportunities to obtain qualifications at a reduced rate 
  2. Having the latest technologies to support day-to-day work
  3. Flexible working conditions 
  4. Opportunities to advance professionally
  5. Offering competitive salaries that reflect changes to the cost of living


“The accounting industry has adapted over the last few years and is now prioritising flexible work and technology adoption to enable us to work from anywhere at any time. This shift not only helps our clients by providing them with more accommodating access to us, but it has had a huge impact on our enjoyment and work-life balance,” said Jimmy Nguyen, senior tax accountant at DKM Accounting.

Take the stress out of managing your firm

Investing in Tech to Grow


The survey revealed the top technologies that accounting/bookkeeping businesses are expected to invest in to help their businesses grow over the next twelve months, including artificial intelligence, cloud accounting software, blockchain, machine learning and automation tools.


Damien Greathead, Accountant & Advisor Lead at Intuit QuickBooks Australia, said investing in technology will be imperative to industry growth while helping advisors address some of the traditional ‘pen and paper’ challenges with the right tools.  


“Nearly 6 in 10 Aussie accountants and bookkeepers see technology playing a major role in their growth and expansion for the next year. Tools like AI enable accounting advisors to move up the value chain by removing the grunt work of data entry or identifying anomalies, freeing up time to do valued work like ‘what if’ analysis for their clients.”


By implementing tech such as AI, automation tools and cloud accounting software like QuickBooks, our accountant and bookkeeper community can win back meaningful time with their clients and focus more on business growth, he said.

Intuit QuickBooks helps small businesses manage their books, get paid fast, manage capital, and pay employees with confidence. To find out more, visit quickbooks.intuit.com/au.


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