On this episode of The Accounting Talent Podcast, host Rob Brown is joined by Jeff Phillips, CEO of Padgett Business Services and founder of AccountingFly, wherein they delve into the concept of "talent stacks" for accounting firms. Jeff explains how a talent stack is an integrated system that firms can use to efficiently and reliably deliver value to their clients by creatively combining different types of talent assets.

The discussion revolves around the ongoing talent crisis in the accounting industry, characterized by more job opportunities than qualified candidates. Jeff posits that the traditional approach to hiring is no longer sufficient and advocates for firms to embrace creative staffing solutions, including remote hiring, freelancers, and outsourcing.

Jeff highlights the significant advantages of remote hiring, citing statistics from his company, AccountingFly, which specializes in placing remote CPAs in firms across the United States. He emphasizes the cost-effectiveness, faster hiring timelines, and access to a broader talent pool that remote hiring offers.

Additionally, Jeff stresses the importance of incorporating freelance and interim talent into the talent stack, enabling firms to tap into the growing gig economy and address specific project needs or busy seasons without committing to full-time hires.

Lastly, Jeff explores the concept of outsourcing and offshoring, particularly leveraging talent from countries like India, the Philippines, and Mexico, where firms can access skilled and trained talent at a significantly lower cost.

5 Key Takeaways:

• The talent crisis in accounting is real, with more job opportunities than qualified candidates, forcing firms to explore creative staffing solutions. [03:30]
• Building a "talent stack" by combining different types of talent assets, such as remote hires, freelancers, and outsourced teams, can help firms deliver value efficiently and reliably. [01:00]
• Remote hiring offers significant advantages, including faster hiring timelines, access to a broader talent pool, and potential cost savings. [06:00]
• Incorporating freelance and interim talent into the talent stack allows firms to address specific project needs or busy seasons without committing to full-time hires. [11:00]
• Outsourcing and offshoring to countries like India, the Philippines, and Mexico can provide firms with access to skilled and trained talent at a lower cost. [16:30]

Quotes:

"The war for talent is over, and the talent won." "If you're not addressing freelance and interim as part of your recruitment strategy, you can't win the race for talent because you're leaving candidates an opportunity on the table."

You can watch this episode and more on our YouTube Channel

https://www.youtube.com/watch?v=prk7MAc8XaU

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Connecting employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of