The accounting industry is at a crossroads. Firms are struggling to find new talent, and even harder, to keep it. Fewer students are choosing accounting as a career, and those who do often leave the profession early—disillusioned by outdated systems, long hours, and repetitive tasks that don’t align with their expectations.
It’s no surprise, then, that younger generations of accountants expect more from their jobs. They want modern technology that makes work easier, a chance to add value to clients, and a firm that respects their time. But if your firm is still relying on the same old tools and methods, you may find it harder to compete for the talent you need to thrive.
Fewer students are entering the accounting profession, and even those who do often don’t stay. The number of people sitting for the CPA exam has steadily declined, and some accounting programs have seen enrollment drop by up to 50%. At the same time, a large portion of experienced professionals is nearing retirement—an estimated 75% of CPAs were already eligible for retirement by 2020. This combination of fewer new graduates and a retiring workforce is putting immense pressure on the profession, making it harder than ever to find and keep talent.
Many firms are left scrambling, facing a shrinking pool of candidates and overworked staff struggling to keep up. If attracting and retaining talent feels like an uphill battle, you're not alone—83% of senior leaders report an accounting talent shortage. The traditional ways of doing business simply aren’t enough anymore, and firms are realizing that change is necessary to stay competitive.
Today’s younger accountants want more than just a routine job. They seek flexibility, meaningful work, and modern tools that allow them to be more efficient and impactful. They’re eager to contribute to the firm’s success, but they expect technology to help them focus on higher-level tasks, not repetitive work.
Having grown up in a digital world, they expect their workplace to reflect the same level of innovation they use in their daily lives. If your firm still relies on outdated systems that are slow or difficult to navigate, you could be turning away top talent before you even have a chance to connect.
They want to spend their time solving problems for clients, advising on strategic decisions, and driving results—not bogged down by mundane tasks like managing invoices, chasing payments, or struggling with inefficient software. This is where modern technology makes all the difference.
By adopting the right tools, you can ease the burden on your existing staff, allowing them to do their best work and improving the experience for clients at the same time. Here’s how it works:
The accounting profession is changing, and the firms that embrace modern technology will be the ones that succeed in the long term. Yes, the staffing challenges are real—but technology offers a clear path forward. By investing in the right tools, you can not only help your firm run more smoothly but also create a work environment that attracts and keeps the best talent.
If you're ready to find out how modern technology can ease the burden on your team and improve your recruitment efforts, it might be time to take a look at Aiwyn. With a platform that makes payment processing seamless, helps reduce burnout, and empowers staff to focus on what they do best, you’ll be well on your way to building a stronger, more resilient firm.
Ready to improve your firm’s efficiency and attract top talent? Learn more about Aiwyn's solutions and see how we can help your team thrive.