It’s a claim that we at Advancetrack hear a lot. We clear up whether it’s true… or a myth.
We will call this a myth. However, the reasoning behind it might not be what you expect us to say.
For example, it would be easy to state: ‘Our staff are good, qualified… and it will all depend on how your team members work with us.’
The actual answer is more detailed, nuanced, and fundamental.
There is an accounting talent crisis across the globe. Clients are more demanding than ever; compliance is becoming exponentially complex; and there are big issues with the way the accounting profession is failing to either attract or hold onto talent. We wrote a huge report on this last year.
Working patterns have changed post-Covid (though some of that is being reversed as it’s clear that learning face-to-face, by osmosis, is vital for younger staff), and other professional services sectors are proving more attractive than accountancy.
Developments in AI, automation, outsourcing/offshoring, are changing the operations and structure of accountancy firms. And while this has added to the image that accountancy jobs will be phased out, we disagree. But we need to find a way to provide our teams with career paths that enable them to move up the value chain: from crunching and data input onto reviewing, then analysis and onto client-facing advice.
This way of working will help to make the accountancy profession more attractive: the work becomes higher value and enables a more attractive career path.
So, instead of getting tied up in comparing ‘jobs completed’ between your team members and that of Advancetrack, we would hope that the reality becomes: ‘My team are now reviewing rather than crunching… how do I leverage their extra capacity to provide a better service for clients, continue developing those team members, and all of us progress and make more money?’
If you’d like to talk to us about managing your resources and driving the practice forward, then book a call.
