[Beckenham, 24-04-2023] As the supply of chartered accountants continues to decrease, businesses are struggling to figure out how to maintain compliance while still managing their bottom line. According to recent studies, fewer people are graduating with accounting degrees and taking the professional licensers exam, making it difficult for companies to find qualified candidates to fill their vacancies. Polls also show that most hiring managers are having trouble retaining top talents.

Because of this shortage of accountants, businesses face a serious challenge in staying compliant with government regulations and keeping their finances in order. Companies must now focus on more effective strategies in hiring and retaining qualified accountants.

Higher Salaries and Better Benefits
Most businesses understand that to combat the shortage of professionals, they must offer more attractive salaries and benefits packages. Companies offer competitive salaries, flexible work arrangements, and additional benefits such as bonuses and health insurance to attract top talent. These strategies have proven successful in keeping experienced and talented professionals in the industry.

Training Programs
When businesses cannot source qualified professionals, they often look to internal training programs to hone home-grown talents and fill the gap. By investing in existing staff and providing them with the necessary training and resources, businesses can create a pipeline of well-equipped accounting professionals to take on the organisation's challenges.

Outsourcing
Outsourcing has become an increasingly popular option as businesses look to stay compliant with financial regulations and maintain efficiency. Businesses can save money and time while ensuring accuracy by entrusting the task of managing their financials to a third-party organisation. They can also benefit from the expertise of experienced professionals.

Recruitment Strategies
Businesses are also exploring new avenues for recruitment. Social media, job boards and networking sites have become essential tools for finding qualified professionals. Recruitment agencies are also being utilised, as they can source talent with specialised skills that may be difficult to find otherwise. Companies such as JMF Associates use their technical expertise to help businesses find the best talent in the industry.

About JMF Associates
Jennings Morton Friel Associates is an executive recruitment firm specialising in helping businesses find qualified finance and accounting professionals. Through their extensive network of resources, they can match businesses with permanent and interim talent. JMF Associates have been helping companies in Central London, Surrey, and Kent since 2002.

Find out more about their recruitment services today at https://www.jmfassociates.co.uk/accountancy-recruitment-in-tunbridge-well.