If you’re struggling to build or stabilize your finance team right now, you’re not alone. The accounting and finance labor market has been under pressure for years, but a few converging trends have intensified the situation:
- A national shortage of CPAs, due in part to education and licensing hurdles and an aging workforce (more than 11,000 Americans turn 65 every day)
- Increased demand for strategic finance talent as companies grow, acquire, or evolve
Whether you’re replacing a retiring controller or trying to find the right leader to help you scale, the challenge is real. Fortunately, there are concrete ways to position yourself for success.
Here are a few strategies we’ve seen work well for business leaders looking to attract and retain finance talent today:
Go on the Offensive
The finance leaders you want probably aren’t actively looking. In this market, you’ll need to take a more proactive approach to recruiting. That means:
- Reaching out directly to potential candidates rather than waiting for applications
- Working with partners who know the talent market and can help source candidates faster
- Being flexible about what the role looks like (more on that below)
Build a Public Face That Attracts Talent
In a tight labor market, your culture matters more than ever. Today’s candidates want to know:
- What it’s like to work on your team
- Whether your leaders support work-life balance
- How you handle professional development
This doesn’t mean you need to overhaul your brand. But it does mean:
- Keep your website and LinkedIn presence up to date
- Share stories about your team and milestones
- Highlight flexibility and growth opportunities where they exist
Network in the Right Places
Great finance people don’t just hang out on job boards. They go to conferences, alumni events, industry summits, and CPA society meetings. If your internal team is too busy to show up in those rooms, consider bringing in a partner with a mental rolodex. Even a casual conversation can be the start of a great fit.
Re-evaluate What You Really Need
Not every role needs to be full-time. In fact, many businesses are finding success by getting creative:
- Bring in a contractor to cover a surge in workload or a transition period
- Use contract-to-hire arrangements to test fit before committing
- Explore fractional or virtual CFO services to get strategic insight without adding to payroll
The key is to match the structure to your current stage and needs. Flexibility can help you fill gaps quickly and buy time to find the right long-term fit.
Get Ahead of Boomer Retirements
Many finance leaders are nearing retirement age, and some give little notice. If you have a senior team member in their 60s or older, it’s worth asking:
- Is their role well documented?
- Who else knows how to do what they do?
- What would happen if they left next month?
Starting the handoff early — even if retirement is still a year or two away — gives your team time to cross-train, shadow, and prepare. You’ll thank yourself later.
Invest in Growth, Not Just Replacement
Finally, don’t treat hiring as a reactive chore. This is an opportunity to:
- Clarify what your business needs from its finance function
- Identify new skills or perspectives that could support future growth
- Create roles that attract the kind of people who want to grow with you
In today’s market, the competition for talent is fierce. But with the right approach, the right mindset, and a little bit of flexibility, you can build a finance team that’s ready for what’s next.