Sourcing top talent pushes firms outside their comfort zone

By Emily Franchi, CAMICO Loss Prevention Specialist

Employee and candidate demands for a flexible schedule or remote working environment are pushing accounting firms outside of their comfort zone as they try to remain competitive. Firms that have not considered allowing employees to work remotely in the past, citing security and control reasons, are now finding themselves with a limited local candidate pool and the threat of an employee exodus in search of a more flexibility.

It seems that no industry is immune from a lack of labor, even in the professional classifications such as accountants. “Help Wanted” signs are the “new normal” and a literal sign of the times. To maintain staffing levels to support client needs, firms are struggling to source a strong candidate pool locally and are now looking outside their areas and even in other states to find qualified candidates.

In addition, the demand for a competitive compensation package is stronger than ever as the candidate pool has the upper hand. Employees can work for firms located in any state while living in an area with a lower cost of living and in turn enjoying a better quality of life.

Of course, a remote workforce can bring greater risk to the firm. As firms consider the factors to support a remote workforce, there are a few items to keep in mind.

• Contact the candidate’s references and ask about work habits, strengths, and weaknesses. Many past employers will shy away from providing such details, but it doesn’t hurt to ask.

• Conduct background checks on candidates who are offered a position. Review and update policies that impact a remote work group such as cyber safety, use of firm resources, and care of client files.

• Create a checklist for an employee’s home office to ensure cyber safety and address issues such as a firewall, secured network, remote swipe and firm-provided phone.

Once remote employees are onboarded, firms must ensure that employees are continually engaged, heard, and valued. Create opportunities for employees to get involved and have a solid Remote Workers Policy that addresses expectations of a remote worker.

Such a policy may address:

• Employees should be available and engaged during regular business hours.

• Employees' remote office need not be a dedicated room or office space, but the space should be free from distractions, pets, and young children, and allow for a secure area where firm and client information cannot be accessed by others and phone calls are private.

• Employees using Zoom, Teams and other virtual meeting platforms should be made aware of any rules regarding cameras being on or off, dress code during virtual meetings, and backgrounds.

The accounting firm of the future is here. With the advice of a risk management adviser, firms can gain an understanding of potential risk and create best practices to support the new workplace of today.

Emily Franchi is the loss prevention specialist for employment practices with CAMICO Mutual Insurance Company (www.camico.com).