How Can You Help Close the Accounting Skills Gap?

Like many other professional disciplines, talented accountants need to possess a variety of specific financial and soft skills. Unfortunately, companies all over the world continue to suffer from an acute accounting skills gap. However, these required abilities also transcend auditing and finance, including topics like software, technology, and communication.


So let’s take a high-level overview of a few strategies aimed at closing the accountancy skills gap. Leverage these insights to ensure your financial professionals thrive in a constantly evolving business world. In the end, any accountant need to be well-rounded to truly achieve success for themselves and their employer.


Upskilling Your Company’s Accounting Professionals in Technology

As noted earlier, many financial employers want their accountants to possess a higher skill level in technology. Notably, some accounting professionals actually perform financial analysis and forecasting in addition to their typical duties. However, analyzing historical data to inform their forecasts becomes easier when leveraging modern technology, like machine learning.


Offering training in AI-powered forecasting to your accountants provides an easy way to learn those critical skills. In addition to AI and machine learning, exposure to other modern tech innovations helps broaden their skillsets. Blockchain offers one crucial example. Distributed ledger technology, like blockchain, boasts the potential to truly revolutionize the practice of accounting in the 21st Century.


Other modern technologies critical for accountants include Cloud computing, cybersecurity and information security, as well as data analysis. That latter skill also plays a key role in financial forecasting, as noted earlier.


Soft Skills Also Matter

The accounting skills gap also transcends technology and finance. Any well-rounded accountant also needs a collection of soft skills. Strong verbal communication skills come into play when interacting with clients and coworkers. At the same time, written communication skills matter when crafting financial reports and other documentation. Leadership and problem solving are also critical soft skills.


How to Help Accountants Close Their Skills Gap

If your company already offers significant professional development opportunities, including a robust training program, upskilling your accountants becomes easier. Ensure they receive classes in AI-powered forecasting, data analysis, and cybersecurity to provide the necessary technical skills. Offering tuition reimbursement as a bonus also offers the means to advance their education. Notably, requiring employees to stay with your company for a period after receiving assistance improves your company’s retention rate.


If your company needs an influx of accounting talent, connect with the team at Venteon. As one of the top financial staffing agencies in the Midwest, we provide the exceptional candidates your business needs. Schedule a meeting with us to discuss your current hiring plans.

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