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How Worried Should Companies Be About Accounting Talent Shortages?
Chances are, you’re familiar with the problem of talent shortages in finance and accounting. This issue is well-documented and has been for years. You might have even noticed it impacting your own company.
The 2025 Corporate Finance & Accounting Talent Study shows that things might be looking up, though. This benchmarking study, conducted by the nonprofit Controllers Council, collected responses from over 300 controllers, CFOs, and finance executives. Of the survey responders, only 10% reported significant labor shortages.
A Shift In Hiring Plans
The 2025 Corporate F&A Talent Study reported that 53% of survey respondents had no talent shortages, 33% faced “minor shortage,” and only 10% struggled with “significant shortage.” For most companies represented in the survey, talent shortages are not a major struggle.
This survey also showed that companies are increasingly likely to hold on to existing talent. 71% of survey responders “plan to maintain their current finance and accounting staffing levels” (compared to 64% in 2024 and 61% in 2023). About three-quarters of companies (76%) do not plan to increase their F&A staffing, but most companies (95%) also don’t plan to decrease their staff.
Fixing The CPA Shortage
Many organizations still struggle to find controllers, bookkeepers, and financial reporting professionals. A large part of this is due to the long-documented shortage of Certified Professional Accountants (CPA). The good news is that we’re starting to see signs of that shortage reversing.
In Spring 2025, the number of undergraduate college students who enrolled in accounting majors jumped to a 5-year high. Changes in licensure requirements for CPAs in several states are also making it easier for accounting graduates to earn their certifications. Perhaps in the near future, CPA shortages won’t be the hurdle for companies looking to hire F&A talent that they are today.
The Role of AI and Automation
Artificial Intelligence (AI) and Business Process Automation (BPA) are not at the point where they’re completely taking over human jobs, but they can make it easier to get by with a smaller F&A team if needed. For example, automating with BPA software is a viable alternative to hiring temp workers. The software streamlines financial tasks and takes over routine work, leaving employees more time to focus on tasks that only they can do.
Talent shortages don’t need to cripple your business. The growing number of accounting students and an easier route to CPA certification indicate that the shortage of F&A talent some companies are still seeing could soon reverse. In addition, BPA software can help your existing finance team cut costs and work more efficiently. Contact NextProcess today to see how our end-to-end financial software solution can help your company improve F&A processes and empower your team.
