The Great Resignation is still in full force and affecting the accounting industry significantly. Overwhelmed and burned-out accountants are quitting, starting their own firms, or changing careers entirely. This shortage of accountants leads to understaffed accounting teams, which often leads to a vicious cycle of burnout among the staff and an increased talent shortage.
Talent retention in accounting is currently one of the top priorities for accounting firm leaders, as is attracting new talent to their team. Ensuring your firm has today’s most modern technology is one of the best ways to deal with these issues.
Recent advances in accounting automation, for instance, make accounting workflows more flexible, centralized and manageable. These features go a long way to proving to prospective hires that your firm is committed to helping its employees get the most out of their work and their careers. Caseware is one of the software companies leading the way.
Need to retain accounting talent? Step up in the digital age
When it comes to business software, it often seems as though there is a chasm between Gen X employees who have been in the industry for decades and Gen Z employees who are only entering the workforce now. On the one hand, Gen X can find the process of constantly having to learn new software, get used to it, and then switch to a new software more than a little frustrating.
At the same time, Gen X employees increasingly want to spend less time in the office and more time with their family, which requires modern technology. On the other hand, Gen Z accountants are uninterested in working for teams that are technologically stuck in the past, with outdated software that slows down the workflow.
How do you bridge this divide? In short, you need technology that is robust and comprehensive, meeting all of your accounting firm’s digital needs rather than overcomplicating the process. You also need something that is easy to integrate into your office’s current workflow.
Fortunately, this kind of technology is currently available. Cloud software with automated features can facilitate easy integration and incorporation of legacy files. Training and adjusting to the software is a breeze and also gives accountants the freedom to decide where they want to work in order to get the job done. You’ll find that’s the case with Caseware.
How Caseware can help you attract prospective hires
Caseware has exactly what your prospective hires are looking for but also won’t drive away your current talent. In fact, our software can easily lighten the load for your current team, which is one of our top tips to retain talent.
Let’s discuss some of the key features we offer that can help you retain talent and attract new hires.
#1 – Mobility
Mobility has become increasingly important since the COVID-19 pandemic. Only in the past year have teams begun to return to the office full-time, and many workplaces have found that remote work actually suits them better. Accounting teams, in particular, enjoy the flexibility of being able to work from home or any other location. Communication is also essential, though, which means that remote accounting teams need powerful accounting software to achieve that mobility.
Caseware achieves this by developing cloud software that can be accessed from any device. All your team needs is their login info; then, they can work from home, from the office, from a plane, or from a waiting room. With a cloud platform, you can not only collaborate on your accounting workflow from flexible locations but on a flexible schedule, making it easier for your team to spend time with their families or balance their work and personal lives.
#2 – Automation
Caseware automates many of the tedious tasks that otherwise take up hours upon hours of accountants’ time each week. You can automatically create reports with beautiful visual representations, send out notifications to clients, and organize documents, just to name a few of the possibilities.
With so many templates already available on our platform, you’ll never have to worry about creating another template from scratch. If you don’t, though, small repetitive tasks performed manually can easily build up and waste your team’s time. Having to manage those administrative tasks on top of everything else can even contribute to burnout.
When those tasks are automated, you can focus on more meaningful work, the sort of work that made you want to become an accountant in the first place. Your team will be more fulfilled and happier in their work when they don’t have to waste time on the tasks that drag them down.
#3 – Collaboration
Collaboration has never been easier than it is with Caseware. Your entire team will get their own logins to access the work from any device. Tasks are all listed in one central location so that everyone can see the status of each project. You can collaborate on documents and financial reports via comments, and you can even invite your client to the Caseware platform to collaborate with them directly.
Caseware uses top-notch encryption to confidently secure all of your sensitive accounting information. Everyone who needs to access particular files will be able to do so easily, while hackers will be kept out.
#4 – Analytics
Analytics allow you to keep track of your performance as an accounting firm, as well as providing key insights to your clients. Caseware has an analytics dashboard that analyzes all of the data from your financial documents and compiles it in an easy-to-read, visually pleasing summary. You can dig even deeper by looking through specific KPIs and sections of this analytics dashboard in order to get a clearer picture.
#5 – Organization
The challenge of organization has long plagued accounting firms everywhere. Paper files can easily be lost, creating more work and headaches for accountants, as well as frustration for clients. Searching for one specific note among a stack of documents can feel like searching for a needle in a haystack.
With Caseware, though, your digital files are all stored in one place: easy to find and easy to search. You can also easily transfer over legacy files so you can shift your entire store of relevant files in our platform rather than sifting through paper files.
The best way to retain talent in your accounting firm is to utilize technology that can help push back against the feeling of accounting burnout. When your workflow is more efficient and the work is more fulfilling, your team will want to stay with your firm. On top of that, you’ll be able to attract new talent, keeping your firm from becoming understaffed. Contact Caseware today to learn more about how our software can help you.