5 Accounting Workforce Trends We’ll See in 2019

With the ongoing evolution in technology, the accounting industry will continue to change as well. Accountants will complete their work even more efficiently and effectively, adding additional value to their clients and employer. Here are five accounting workforce trends to look for in 2019.

Cloud Accounting

Using software and services stored on a network of remote servers strengthens security, allows for remote work, and improves disaster recovery. It also increases quality control and reduces costs. For instance, because cloud-based software can be accessed from anywhere with an internet connection, accountants have the real-time data they need to make educated business decisions. Also, since the data is stored in the cloud, there is no downtime in case of a natural disaster.

Cybersecurity

Because accountants deal with confidential financial information, they need to protect clients’ privacy. As malware, phishing and other criminal attacks continue to increase in intensity, so must security plans to block them. For instance, accountants will implement greater security protocols, receive more detailed training on security measures, and use more advanced security systems that anticipate risks.

Automation

Machine-driven algorithms will accomplish simple, routine work such as invoicing, processing payroll and tracking inventory more efficiently and effectively than humans. Automation also will increase accuracy and lower costs while freeing up time for humans to accomplish more complex activities. Accountants can leverage information, predict interactions, generate insights and provide a more valuable impact for their clients.

Blockchain

Blockchain technology will provide a continuously updated and verified accounting ledger that cannot be altered or corrupted. The technology will allow accountants to share and access data to more efficiently complete their work. For instance, Big Four accounting firms will continue to use blockchain research for accepting Bitcoin as a payment method, identify new applications and use cases for blockchain, and explore initial coin offerings that are similar to initial public offerings (IPOs) but use a cryptocurrency instead of a stock.

New Payment Structures

Cost-plus pricing will allow firms to charge the cost of performing a service plus a markup or profit margin. Fixed pricing will involve charging a fixed cost for a specific service. Value billing will consist of the firm charging for its perceived value of a service after the work has been finished. Value pricing will involve the firm charging for the client’s perceived value of a service. The price will be set before starting the work.

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Building on the Power of Your Team’s Strengths

Focusing on your team’s strengths provides many benefits. For instance, your team members become more engaged, productive, and loyal to your organization. Therefore, you want to determine which areas each member excels in and help to develop them.

Categorize Essential Strengths

Determine which strengths are most essential for your team. General strengths may include strategy and planning, leadership, cultural alignment or execution. Then, figure out ways to measure those strengths. You want to know which team member is strongest in each area so they can be assigned corresponding roles for collaborative projects. Because your teammates will be great at what they are naturally drawn to, they will excel in related roles. Your team also will feel empowered because you accept the fact that each is stronger in some areas than others and prefers to work in the areas they enjoy most.

Determine Each Team Member’s Strengths

Begin by discussing what you see as their core competencies. Then, figure out how those competencies can be applied to specific projects. Next, show how those competencies align with the responsibilities and expectations of the project’s role. Finally, focus on the big picture by creating business goals in line with your team members core competencies. Your teammates are more likely to embrace and reach goals that align with their strengths and interests.

Share Each Member’s Strengths

Talk about how each person’s talents can be used to enhance collaboration and complete projects. Mention how your teammates can capitalize on each other’s talents to maximize efficiency and achieve desired results. Encourage them to support each other in developing their strengths.

Offer Additional Strength Training

Seminars, conferences, classes or other training opportunities may be offered in the office or at remote locations. Map out ways that strength training can assist with promotions and attaining career goals. Find out whether there are additional strengths your team members want to develop and act accordingly. Discuss progress during performance conversations and reviews.

Strengthen Your Team With Casey Accounting & Finance Resources

For help filling accounting jobs in Chicago, get in touch with the staffing experts at Casey Accounting & Finance Resources!

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End of the Year Hiring

With the New Year close at hand, one of the best gifts you can give yourself is a great new hire or new position to start off the New Year! Below is a list of our recent placements demonstrating our team’s success in helping companies identify top talent!  With our track record and our extensive network, how can we help you?

Recently Filled Direct Hire Positions and Industry:

  • Chief Financial Officer – Health Care Services
  • Corporate Controller – Manufacturer
  • Sr. Accountant – Social Services
  • Sr. Accountant – Manufacturer
  • Payroll Specialist – Engineering Manufacturer
  • Payroll & Benefits Administrator – Health Care Manufacturer
  • Jr. Accountant – Printing
  • Payroll Manager – Manufacturer
  • Accounts Payable Specialist – Electronics Manufacturer
  • Accountant – Recycling Services
  • Payroll Manager – Financial Services
  • Sales Administrator – Manufacturer
  • Database Administrator – Nonprofit Association
  • Accounts Receivable Specialist – Printing

Recently Filled Contract Positions and Industry:

  • Accounts Payable Specialist – Professional Services
  • Staff Accountant – Education
  • Payroll Administrator – Manufacturer
  • Credit & Collections Specialist – Distributor
  • Property Accountant – Real Estate
  • Payroll Analyst – Manufacturer
  • Accounting Clerk – Construction
  • Payroll Specialist – Manufacturer
  • Staff Accountant – Financial Services
  • Staff Accountant – Education
  • Accounts Payable Specialist – Manufacturer
  • Payroll Associate – Professional Services
  • Credit & Collections Specialist – Manufacturer
  • Accounts Payable Specialist – Manufacturer

Partner With Casey Resources Today!

Hire top candidates through Casey Accounting & Finance Resources, a leading Chicago employment agency!

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