If you're struggling to find the right accounting talent, you may be overlooking some hidden gems.
As the job market becomes more competitive and unemployment rates decrease, employers are facing difficulties to find suitable candidates for accounting positions. Moreover, the cost of hiring in North America is on the rise, prompting companies to consider offshore hiring as an alternative option. However, it is crucial to identify international workers with similar working and cultural backgrounds who can seamlessly integrate with your in-house team.
One alternative that is gaining traction for companies struggling to find qualified accounting talent is partnering with offshore staffing agencies. These agencies can provide access to a skilled and diverse workforce in countries like South America, while also offering cost-effective solutions for businesses looking to expand their global reach.
In this blog, we will discuss the benefits of offshore accounting staffing agencies and provide tips on what to look for when choosing a partner for your staffing needs.
Why are you struggling to find Accounting Talent?
The accounting industry has undergone significant transformation due to automation and technological advancements, leading to a shift towards more analytical skills and less emphasis on manual bookkeeping tasks. As a result, businesses require accounting professionals with advanced technical abilities, including data analysis and programming skills.
However, despite the increasing demand for skilled accounting talent, the job market is experiencing a shortage of qualified candidates. The American Institute of CPAs (AICPA) calculated a deficit of 90,000 accounting professionals in the United States through 2022. The shortage seems to be related to various factors such as an aging workforce, lack of interest among younger generations in accounting careers, and competition from other industries for top talent.
What Is An Offshore Accounting Staffing Agency?
In this context, finding the right accounting talent can be a daunting task for employers. Screening through numerous applications and conducting multiple interviews can be time-consuming and expensive. Add to this equation the resources needed to reach international candidates, while breaking down language and time-zone barriers.
This is where offshore accounting staffing agencies can be a convenient and cost-effective option. These agencies can provide access to a highly-skilled pool of candidates and employees, which can be a perfect fit for your accounting team.
An offshore accounting staffing agency can search and recruit some of the best-qualified candidates with financial experience worldwide. An offshore staffing agency usually offers:
- A pre-selected pool of candidates with financial experience from around the world.
- Evaluation of job candidate’s experience and skills using resources like assessments, references, background checks, or skills testing.
- Evaluations on language and cultural compatibility.
- Conducting initial and follow-up interviews
- Managing payroll.
- Performing employee evaluations.
What Does an Accounting Staffing Agency Do?
Accounting staffing agencies not only assist in hiring full-time or permanent employees but can also provide temporary employees on an as-needed basis. This option is particularly useful for fluctuating demands such as tax season.
To be proactive, these companies usually assign a client or account to a specialized internal recruiter whose gold is to build a relationship with the company. The recruiter works one-on-one with the company to understand your needs and goals before you even need to hire talent.
As staffing agencies already have a pre-selected pool of the best-qualified candidates, recruiters typically find the ideal employees more quickly than going through the traditional hiring process: job postings and multiple interviews. In many cases, agencies can find you a candidate in two weeks or less because they are in constant communication with candidates eager to work for international companies.
Why consider going for an Offshore Staffing Agency from South America?
One of the most significant advantages of offshore hiring is its ability to access a diverse pool of talent from all over the world, regardless of their location. This allows companies to find skilled and qualified employees in areas with more competitive salaries. Furthermore, remote workers can benefit from lower housing costs and local taxes, allowing accounting firms to secure top talent at a more effective cost.
One of the best ways to find the right talent in South America is to partner with local staffing agencies. These agencies have a deep understanding of the local job market and can help you find candidates with the right skills and culturally similar experience for your company. They can also provide valuable insights into local employment laws and regulations, making it easier to comply with local labor laws and avoid legal issues.
What Types of Roles Do Accounting Staffing Agencies Hire For?
Accounting staffing agencies can provide a range of candidates for various positions, not just limited to accountants. These agencies can also source professionals with skills and experience in higher-level fields such as financial advisors and risk managers. This enables businesses to have access to a diverse pool of talent with specific expertise and knowledge in the financial industry.
Accounting staffing agencies can offer a wide selection of roles to choose from, including but not limited to
- CPAs
- Bookkeepers
- Financial analysts
- Tax Managers
- Auditors
As an Employer, Why Should I Hire And Use An accounting Staffing Agency?
Partnering with an offshore accounting staffing agency can provide cost savings, as remote workers can benefit from lower housing costs and local taxes. This allows accounting firms to secure top talent at a more effective cost.
Offshore accounting staffing agencies are also experienced in dealing with international employment regulations and can assist you in navigating local labor laws and compliance issues. This can save you valuable time and resources, as you do not need to be familiar with foreign employment regulations.
Using an offshore accounting staffing agency can provide you with a competitive advantage in the global marketplace, allowing you to access top talent and reduce costs while complying with international employment regulations.
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Kevin Mitchell, CPA
Senior Manager and CPA with over 20 years of experience in accounting and financial services, specializing in risk management and regulatory compliance. Skilled in managing audits and leading teams to deliver exceptional services. Proud father of two.
