As CFOs and finance teams continue to face challenges caused by an accountant shortage, accountants working in the field are reaping the benefits. Accountant pay has gone up, their academic requirements to land roles have lessened, and technology is addressing the repetitive parts of accountants’ work.
According to new data from ShareFile, a provider of content collaboration software and virtual rooms, out of the 303 accounting professionals they surveyed, a large portion (95%) of them are satisfied with their career choice and current role.
Why Are Accountants Satisfied?
Despite the hard work and long hours accountants put in to build their careers, many have positive things to say about their experiences. Nearly all (94%) said they are satisfied with the company they work for, and 93% said they are satisfied with the current state of accounting. Nearly two-thirds (62%) of accountants indicated they weren’t looking to change jobs anytime soon.
When asked why they’d recommend the role to others, accounting professionals were split. Nearly a fifth (17%) said career growth advancement, while almost a quarter said job security and global job opportunities (22% and 24%). The top choice was good pay, with 30% of accountants selecting it.
Tools and Tech to Drive Efficiency
The survey data suggests efficiency in the accountant role is determined by the technology that teams have available. Nearly three-quarters (72%) of respondents said their efficiency is being held back because they lack resources. About 70% also cited constantly changing tax laws and a lack of automation.
However, access to technology doesn’t guarantee efficiency from accountants, data suggests. More than half (56%) of the accountants surveyed said they have too many tools at their disposal, causing them to switch back and forth between applications when performing tasks.
This idea, referred to as context switching, is a problem according to 56% of respondents, 17% of whom say it’s a large problem. When asked if they believe accountants can perform their jobs effectively but not efficiently, nearly eight in 10 (79%) surveyed respondents agreed.
Enhance Client Experiences
Not only will access to simpler and more practical solutions benefit accountants, but, according to the accountants, it’ll help them provide better service to their team and clients.
Nearly three-quarters (70%) said handling a large number of routine tasks has become a problem on a regular basis when trying to provide positive experiences to their internal or external clients.
Of those who offered responses, half worked at accounting/tax/audit/bookkeeping firms and 151 worked in-house at companies. About half had six to 10 years in the field and 25% had 11 to 20 years.