Navigating the Finance Talent Shortage in 2024 and Moving Forward

Let's Get Real About Hiring Finance Talent

If you're trying to hire finance talent in Q4 2024, you're probably feeling like you're stuck in a game of musical chairs where someone stole half the chairs and replaced the music with death metal. Trust me, I get it. I've been there, done that, and got the "I survived the talent shortage" t-shirt.

But here's the thing: being an underdog in this game? It's not a disadvantage. It's your secret weapon. Let me tell you why.

The Unemployment Numbers Are Scary

First, let's look at what we're up against:

• Accountants and auditors have a 1.6% unemployment rate

• Bookkeepers? 1.8%

• The national average? A whopping 4.1% (through September 2024 according to the Bureau of Labor Statistics)

Now, if you're anything like me, you're looking at these numbers and thinking, "Great, I'm trying to find a unicorn in a field of horses." But remember this: unicorns exist in the world of finance. 

You just need to know how to spot them – and more importantly, how to attract them.

When Everyone's Comfortable, It's Time to Shake Things Up

Here's another fun fact: only 35% of U.S. workers are planning to job-hop in the second half of 2024. 

Last year? It was 49%.

People are getting comfy. They're settling. And you know what? 

That's your opportunity to be the pebble in their shoe, the dream that keeps them up at night, the "what if" that they can't shake.

Be the Opportunity They Can't Resist

1. Flexibility Isn't a Perk, It's a Lifestyle

When I started out, I was working from coffee shops, park benches, and you know what? Some of my best work happened in those unconventional spaces.

• Offer remote work, but make it exciting. "Work from anywhere" Wednesdays!

• Flexible schedules that actually flex. Night owl? Early bird? As long as the work gets done, who cares?

• Trust your people. Period.

The days of chaining accountants to their desks are over (were they ever really in?). 

A happy accountant is an accurate accountant.

2. Tech Isn't the Future, It's the Now

I've sat in meetings where "AI" and "machine learning" were thrown around like confetti at a New Year's party. 

Don't be that person.

Instead:

• Show how AI is making your finance team's life easier right now

• Offer "Tech Playground" days where your team can experiment with new and emerging technology

• Make learning new tech a game, not a chore

3. Compensation: Think Outside the Paycheck

Money talks, but it's not the only language. Get creative:

• Competitive salaries? That's the baseline

• Offer a "Pursue Your Passion" stipend

• Mental health days that don't count against vacation time

• How about a "Bring Your Side Hustle to Work" program?

4. Careers Aren't Ladders, They're Jungle Gyms

In my career, I've been a hamburger flipper, call center representative, credit analyst and now a Founder. Who says finance careers have to be linear?

• Create a "Financial Innovation Lab" where people can work on wild ideas

• Offer rotations through different departments. Finance meets marketing? Why not?

• Mentorship programs that flip the script – have junior staff mentor seniors on new tech

Top talent doesn't want to climb a boring old ladder. They want to swing, leap, and bound through their career. Offer clear pathways for advancement, but make them exciting. "Future CFO Training Program" has a nice ring to it, doesn't it?

5. Work-Life Balance: Actions Speak Louder Than Words

I once worked for a company that said they valued work-life balance but expected 80-hour weeks. Don't be that company.

• "No Email Weekends" – make it a policy

• "Bring Your Life to Work" days – pets, kids, hobbies, whatever

• Mandatory vacation days. Yes, mandatory. Burnout is real, folks.

Tell a Story They Want to Be Part Of

When you're writing that job description, don't just list requirements. Paint a picture:

"On Monday mornings, you're sipping your favorite coffee, your dog at your feet, as you log in to check your AI-assisted finance dashboard. 

By Wednesday, you're presenting a groundbreaking financial model to the CEO – a model you developed during last month's 'Innovation Week.' 

Friday afternoon? You're mentoring a high school student as part of our 'Finance for the Future' program. 

This isn't just a job. It's a chance to rewrite the rules of finance. Ready to get started?"

The Underdog's Advantage

Here's the truth, when everyone's playing it safe, the biggest risk is not taking any risks at all. As someone who started with nothing and built something, I can tell you that the view from the top is sweet, but the climb is where the real magic happens.

You're not just hiring accountants or financial analysts. You're building a team of financial revolutionaries. You're creating a place where the misfits, the dreamers, and the "crazy ones" can come together and do the best work of their lives.

So yeah, the talent pool might seem small. The big fish might seem out of reach. But remember this: every big fish started as a small fry who decided to swim against the current.

Be the current they want to swim against.

Be the challenge they can't resist.

Be the opportunity that makes them say, "This. This is where I belong."

Now go out there and show the finance world what disruption really looks like. Trust me, it's going to be one hell of a ride.

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Contact us to create your exclusive Finance and Accounting talent hiring strategy

Chris Holt, Managing Director

Email: chris@focustalentgroup.com

Phone: (909) 680-0632

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