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OSCPA action plan aims to address the accounting talent shortage
Written on Oct 5, 2023
OSCPA staff report
The accounting talent shortage in Ohio is at a critical point that requires a bold and all-hands-on-deck approach to resolve, and OSCPA is leading the charge to make it happen.
At its Workforce Development Summit last week in Columbus, OSCPA convened influential accounting leaders from around the state to begin building an engaged coalition that will work to transform the accounting talent pipeline. Representing more than 50 organizations involved in business, academia, non-profit, and government, the group spent a day and a half dissecting the scope of the talent deficit and outlining steps needed to resolve it, including societal changes in work, a set of reimagined CPA pathways, and a dramatically different narrative aimed at attracting the next generation to this opportunity profession.
According to OSCPA’s analysis of data from the Accountancy Board of Ohio, the talent shortage in Ohio will become especially severe in the coming years. Of Ohio’s registered CPAs, more than 45% are 60 years old or older, and nearly two-thirds are over 50.
“We are at a pivotal moment in the accounting profession,” said Scott Wiley, CAE, OSCPA president & CEO. “We all have to work on this. And we all have to work with strategy and focus. Education, training and quality of work are needed now in different ways than they ever were before.”
At the event, OSCPA’s Chief Learning Officer Tiffany Crosby, CPA, CGMA, MBA, introduced a five-point plan focused on actionable steps to address the talent shortage.
Form a coalition.
OSCPA is in a unique position to bring together the essential stakeholders to take collective action.
Tell accounting’s story.
Accounting’s story needs to change. We need to reframe accounting as the language of business, a profession of opportunity , and one where future CPAs can see themselves as a key partner in empowering growth.
Review and revise curriculum.
Accounting taps into a broad range of skillsets and engages in the issues most pressing to business. The current accounting education landscape can better reflect the actual work of accounting to provide students with meaningful experiences.
Enhance the work experience.
The culture of work within the profession needs to reflect the changing demands of the current and incoming workforce to remain sustainable. Accounting’s story needs to be well-lived, in addition to being well-told.
Establish multiple pathways.
Accounting careers need to be more accessible to a broader audience. There needs to be a change in how young professionals and untapped talent make their way to accounting and the CPA, and that includes removing barriers that are outdated or unnecessarily onerous.
“OSCPA is able to serve as a hub to bring alignment where there have previously been individual efforts,” said Crosby. “We can facilitate access to resources, some of which employers or other stakeholders within this pipeline may not be aware of and there is incredible value in that. Harnessing the collective knowledge and resources of organizations already working to address talent gaps will accelerate our ability to be able to address the talent crisis for the profession.”
While there is no “silver bullet” to solve the talent shortage, the five-pillar plan is a comprehensive and actionable approach to address decades-old issues and begin to see real change.
“This is a complex conversation and one that will not be solved overnight,” Wiley said. “We need to ensure that the profession has the talent it needs to meet the challenges and the opportunities of the future, and we are presenting accountants and CPAs as Ohio's most trusted business advisors. OSCPA has a role to play in changing the landscape. And we are looking forward to working with an impressive group to make an impact in Ohio.”