Talent pressures reshape priorities for accounting practices

Talent pressures reshape priorities for accounting practices

Small and medium-sized accounting practices are seeking new ways to attract and retain talent amid growing skills shortages and rapid changes in the accountancy profession, according to the Association of Chartered Certified Accountants (ACCA).

To help firms respond to these challenges, ACCA on June 9 launched its SMP Talent Management Toolkit, a two-part resource designed to strengthen recruitment, skills development and employee retention.

The initiative was introduced ahead of the United Nations' Micro-, Small and Medium-sized Enterprises Day on June 27 as part of ACCA's global campaign focused on talent development within the SMP sector.

The launch comes at a time when accounting practices are facing increasing pressure to adapt to technological change, rising client expectations and shifting career priorities among younger generations entering the profession. Advances in AI and automation are also reshaping the skills required of finance professionals and changing how firms deliver services.

Against this backdrop, the toolkit draws on findings from ACCA's Global Talent Trends 2026 survey, which gathered responses from 11,389 finance and accountancy professionals across 160 countries, alongside insights from practitioners working in small and medium-sized firms worldwide.

ACCA's new toolkit aims to help accounting practices attract, develop and retain talent. Photo: ACCA

The survey found that many of the qualities sought by today's workforce, including meaningful work, broad professional exposure, direct impact and strong client relationships, align closely with the opportunities typically offered by smaller accounting practices.

According to ACCA, the ability to engage and develop talent is becoming increasingly important for smaller firms as they seek to adapt to changing client demands and a rapidly evolving business environment.

"The accountancy profession plays a central role in the health and resilience of the small- and medium-sized enterprise sector. The practitioners joining firms today will be the trusted advisers of tomorrow's small businesses, and how we develop talent now determines what becomes possible for the profession, and for the businesses and communities it serves," said Aleksandra Zaronina-Kirillova, head of SME professional insights at ACCA.

To support firms in addressing these workforce challenges, the toolkit comprises two complementary publications.

The first, aimed at practice leaders, provides guidance across the talent management cycle, covering recruitment, professional development and employee retention. It includes practical recommendations, learning and skills frameworks, guidance on AI-related upskilling, case studies and experiences shared by firms in Malaysia, Singapore, Ireland and Sri Lanka.

The second publication targets prospective employees, including school-leavers, graduates, career changers and experienced professionals considering a move into smaller practices. It outlines career development opportunities within SMPs and provides practical career advice and skills development guidance based on ACCA's Career Paths Reimagined 2026 research.

Both publications draw on findings from Global Talent Trends 2026 and feature video case studies from accounting professionals and practice leaders in Malaysia, Singapore, Ireland, South Africa and the UK.

As part of the initiative, ACCA will host a webinar on June 30 focusing on skills shortages in the SMP sector. The session will examine recruitment strategies, onboarding practices, workplace learning and mentorship schemes aimed at strengthening talent pipelines within smaller firms.

VIR