Knowledge Hub – Finance Recruitment & Accountancy Insights

The UK accountancy sector faces a talent crisis, with 57.1% blaming stereotypes for declining enrollment. Challenges include high education costs, lengthy qualifications, and limited diversity. Technological, tax, and interpersonal skills will shape future accountants' success, per FreeAgent research.

Attracting passive candidates requires a strong employer brand, personalised engagement, and tailored opportunities. Leverage professional networks, nurture talent pipelines, and utilise recruitment marketing. Offer flexibility, wellness benefits, and partner with specialist agencies to secure top talent discreetly and effectively.

The AccountingWEB community debated whether accountants should charge for ad hoc advice. Most advocated including quick questions in annual fees to maintain client relationships, while some suggested charging for extensive queries or adopting tiered service models for fairness and clarity.

The UK’s startup ecosystem is facing a downturn, with a decline in small businesses and fewer new startups emerging each year. Increasing National Insurance and wage costs, alongside government policies, risk accelerating this trend, favouring larger firms within the SME landscape.

A study by Intuit QuickBooks and ACCA reveals that UK SMEs with accountants see an 11.5% average revenue increase, enhanced financial confidence, and time savings. Accountants reduce stress, improve decision-making, and bolster access to funding for small businesses.

Hiring a CFO is crucial for any organisation’s success. Start by defining your needs, crafting a compelling job description, and using a mix of search methods. Evaluate candidates for technical skills and cultural fit, conduct background checks, and onboard effectively.