“There’s a new kind of leader being born. In accounting firms, people who are being pushed or promoted are the ones who have not stayed the longest or have the best technical skill sets; but the ones that are most progressive and adaptive to change,”
-says Rob Brown in the Accounting Influencers podcast episode of Why traditional CPA firms struggle to retain top talent.
The accounting industry is evolving rapidly, especially in the aftermath of the pandemic. Accountants are hired soon after they graduate from college, and then they work a few years with a firm to become a partner eventually. Previously, this is what the journey of an accountant looked like. But times have changed – the workforce has evolved, and they want more. This career trajectory doesn’t work for the accountants anymore. And the firms that have not evolved in terms of what they offer to the accountants are struggling to retain the top talent.
In 2024, 83% of financial leaders reported a shortage of accounting talent as compared to 70% in 2022. Today, the US has about 3,40,000 fewer accountants than it did a few years ago. Some of the most common factors contributing to these declining numbers include retirement, the change in the workforce, accountants unwilling to work the long hours, a shift in mindset, and disruption because of tech, AI, and so much more. This compels the modern-day accounting firms to focus on adjusting their strategy to improve performance and retain the high-performing accounting teams.
Why does a clear job description matter?
Building a high-performing accounting team isn’t easy. In an industry where precision, accuracy, compliance, and accountability are non-negotiable, the role of a job description that helps align the candidates with the organizational goals and vision from day 1 is more important than ever. It not only helps teams hire well-aligned individuals but also ensures retention.
The Role of a Clear Job Description in Improving Performance & Retention
- Helps set expectations from day 1:
The problem with unclear, confusing job roles is that they lead to underperformance and early attrition. When teams end up with overlapping job roles, it creates confusion and frustration. A well-written job description helps outline:
- Key roles and responsibilities
- Key skills and qualifications, including any software and tools
- Reporting structure
- Expected outcomes and KPIs
Having clarity on the roles and responsibilities helps avoid multiple people working on the same job. With a clear job description, employees know what they are signing up for, how their work fits into the bigger picture, and what they are expected to achieve. When teams know what success looks like, they are more likely to remain on track.
- Helps improve accountability and ownership:
The role of an accountant comes with high stakes. Even a single error can lead to penalties, compliance failures, or client dissatisfaction. Defining each role clearly can help teams operate with greater focus and independence. Employees can be held accountable for their outcomes only when expectations are set right from the beginning. This also creates a more collaborative work environment. When team members don’t waste time chasing, negotiating, or second-guessing responsibilities because the lines are already drawn, they are more productive and efficient.
- Keep a track of performance with measurable KPIs:
When you include measurable KPIs in the job descriptions, it gives managers and leaders a shared understanding of what high performance looks like. Whether it is closing books on time, maintaining 100% payroll accuracy, or achieving zero tax filing errors, KPIs help keep track of performance reviews and cause corrections.
When job descriptions are written with performance metrics in mind:
- Employees are motivated to meet targets
- Managers can coach with clarity
- Conversations become outcome-driven, and not subjective
- Streamline hiring and onboarding:
Constant turnovers are expensive. In a field like accounting, where training cycles are long and recurring, it can be extremely costly for businesses. Having a clear job description that is specific and role-aligned can help attract better-fit candidates, reduce hiring mismatches, and cut down onboarding time because new hires have complete clarity on what is expected of them. The internal documentation for your HR or staffing partner can help find steady and consistent hires.
- Helps reduce burnout through defined roles and responsibilities:
When accounting team members have overlapping duties or there is a disparity in the division of tasks, it can lead to burnout. In such cases, what usually happens is that some teams end up doing more jobs than they can, and they juggle to meet deadlines and maintain client satisfaction. One person ending up doing it all is most definitely not a sustainable model.
A clear job description balances out the workloads while preventing overextension. They help in distributing tasks fairly and highlight when a team is stretched beyond its limits. When you see that the tasks extend the team’s capabilities, it allows you the time to hire or offshore before burnout sets in.
- Helps create a positive culture and transparency:
Trust is based on transparency, and it has to be mutual. When employees know what is expected of them and what their responsibilities are, it leads to better communication, less conflict among team members, and a culture where everyone is aligned on the goals.
Clear job roles are effective, and when it comes to performance conversations, they become less personal and more constructive. Employees feel more seen, valued, and empowered, which in turn boosts morale and retention.
So, how do you use job descriptions to your advantage?
In accounting, no two job descriptions are the same. One-size-fits-all often doesn’t work. The best practices include:
- Customize descriptions as per your firm’s industry, position hiring for, workflow, etc.
- Include measurable KPIs tied to business results
- Maintain transparency about reporting lines, collaboration, and growth paths
- Update the JDs regularly to reflect changes in the process or scope of work
Not sure where to get started? Our customizable, ready-to-use job description templates are designed for accounting firms like yours. These templates will make it easier to hire, onboard, train, and retain talent and are applicable for building an in-house team and scaling with offshore support.
Struggling to find talent that accelerates growth? With Finsmart’s Embedded offshoring model, we make it easier. You get access to pre-vetted, pre-qualified, English-speaking resources for different seniority levels. Whether you want junior bookkeepers or senior auditors, you’ve got it all covered.
Have more questions about offshoring? Meet our team of offshoring experts to get started: https://finsmartaccounting.com/usa/free-consultation/
Maanoj is Co-founder & Director of Growth Strategy & Alliance at Finsmart Accounting. He is an Outsourcing Expert, a People Champion, and a Dynamic Leader with strong Business Strategy and Scaling-up experience. He has incubated businesses, sold & exited ventures; helped build strong enterprises in very diversified verticals like Fintech, HR & Consulting spaces in various CXO capacities over the last 20 years.
