Navigating the CPA Shortage in North America 

Imagine this: your firm just spent months searching for a Certified Public Accountant (CPA) to join your team. After offering an above-market salary to secure top talent, the CPA settles in and then leaves for another firm six months later. Sounds familiar? 
The scenario is increasingly common as firms across the U.S. battle the rising costs of talent acquisition and retention amid a growing CPA shortage. Recruitment fees are skyrocketing, salaries are inflated, and turnover is more expensive than ever. But beyond the cost, these issues affect the firm’s client relationships and increases pressure on already strained HR and financial models, especially planned growth. Many CPAs with 20 to 30 years of experience are expected to take on more client-facing roles as their firms evolve, with associates handling much of the deliverables for senior and partner review. However, the current CPA crisis has left many partners and senior staff mired in manual work and data entry, resulting in a loss of strategic planning and execution, decreased morale, and the mass exodus from the industry we are witnessing today. The question is, how can CPA firms stay competitive without breaking the bank or alienating staff?