A Joyful Christmas For Corporate Tax Professional Careers

Corporate Tax Hiring Trends With Tax Reform

For those of us who experienced the impact of the last major tax reform under President Ronald Reagan, I have a prescient message for you “ there will be a lot of new opportunity for tax professionals.” During the TRA 1986  there was a surge of hiring in corporate tax organizations as company executives scrambled to figure out the impact of tax reform legislation on their businesses. Behind  the scenes, we see companies already scrambling to get ahead of the changes about to appear with tax reform. The surge in new jobs and opportunities President Trump talks about is real and it is about to impact the corporate tax profession. The number of tax search experts at the top of our profession who were around at that time you can count on one hand and we all know what is about to happen with tax reform from our previous experiences. There are no computer bots ready to figure out the tax impact for companies as it takes pure human intelligence to research the impact on every tax organization.

Recently, we have been talking to corporate executives discussing their hiring and retention initiatives as they break out in front of the pack for the talent. They are calling me privately to discuss tax compensation for tax executives and requesting our Corporate Tax Executive Compensation Report. Companies are having a challenging time finding tax executives they need these days and they do not know why. There are many more companies who have grown to the level to bring tax in-house but there are other circumstances most company executives fail to consider and I tell them so.  Allow me to share with you three major reasons that executive tax talent pool is not knocking at your corporate door and responding to them online. Most of the corporate tax executives we work with will not send their resumes into a company resume portal. They are much to risk averse of losing their current role to send their resume into a company resume portal to people they do not know. In fact,  they tell me they feel like their resume disappears into a big black hole and does not give them any sense of security to keep their current job or their curiosity for a new role private.

Secondly, many of the searches we conduct have resumes of candidates sitting in the portal the company human resource consultants never identifies. The reason for this is that human resource consultants are often too inexperienced to read and understand a tax professionals skills on a resume. This happens constantly as human resource professionals struggle to juggle hundreds of openings across multiple technical roles outside of tax.

Thirdly, search for corporate tax professionals is a people business and no amount of computer activity will ever replace an experienced tax search consultant’s ability to thoroughly research, identify, investigate and screen for tax candidates for highly technical management roles that require strong written and verbal communication skills.

Even as the Founder of www.taxconnections.com , the leading media platform for tax professional branding and visibility, I can tell you that corporate tax professionals must be approached differently than the overall tax community. You must go after them as they will not come to you through resume portals. Corporate tax executives  will return calls to people they know and trust. It takes years to build up this trust and like the old EF Hutton tagline….when EF Hutton calls, people listen… when we call, tax professionals listen. Understanding how corporate tax professionals think and react towards achieving more success is something you will never learn or experience through a corporate resume portal.

Having a strong in-house corporate tax team is what helps companies outperform competitors and attract the very best to their tax organization. Properly staffed tax organizations save companies millions(billions) annually depending on their size and structure. Having built corporate tax organizations for our corporate clients around the world, I can assure you getting the right tax teams in-house makes a world of difference to companies.

Stealth corporate executive teams are now quietly moving ahead of tax reform to secure the very best tax talent available to them in the market. They are simply not waiting for a resume to appear on the desks of in-house recruiters. Tax reform is about to create a very busy and joyful Christmas for corporate tax professionals around the world. Merry Christmas!

Have questions? Contact Kat Jennings.

Kat Jennings, TaxConnections, CEO and Founder and Advisory Team provides three areas of services: 1) Internationally recognized, retained executive search services for multinational corporations, public accounting firms, and law firms; 2) Introductions of sellers to buyers of small and medium size accounting firms; and 3) Provide brand building and education services that support and prepare accounting firm owners to buy/sell an accounting practice. We focus on educating the journey to sell a practice and how to increase firm revenue prior to any sale. Our program ensures you start years prior to a sale by learning what is expected of you during the selling process, and introducing firm Partners to cross selling opportunities that are easy to implement and reduce your workload at the same time. We introduce you to value added connections to smartly grow revenue in your accounting practice.

Kat Jennings has been retained by organizations worldwide to locate tax professionals with highly specialized tax knowledge and expertise. She has a thorough understanding of the tax business community, with a proven record of stellar performances matching professionals with organizations. Bringing two parties together to work successfully is the art of understanding personalities, cultural fit, expectations by both parties, flexible or inflexible work environments, understanding what drives and motivates each party, and revolves around the personality and ethics of each executive team.

Kat is a widely recognized expert in high level, tax executive search, as well as connecting buyers and sellers of accounting firms. TaxConnections provides and educates small to medium size accounting firms owners and Partners how to prepare and sell their firms so they can build a succession plan for their retirement. With larger firms seeking to acquire smaller accounting practices, there is a real need to help firm owners prepare to be acquired. Most firm owners are unaware they are not ready to sell when they decide to retire. TaxConnections educates firm owners’ what they need to do years in advance of selling an accounting firm practice.
Senior tax executives expect the utmost privacy when being introduced to multinational organizations about a new tax opportunity under consideration. Having said that, companies searching for a new head of tax expecting tax executive candidates to submit their resume through a resume portal, will never see a full slate of outstanding tax executives available due to a candidates’ desire for greater privacy. This is why privacy focused Uber Tax Recruiters consistently outperform in-house recruiters on tax executive searches.

We offer our clients a Performance Retainer Agreement arrangement so their HR department can still recruit and compete with the tax candidates we present on Head of Tax searches. The client pays us a partial fee upfront, and if they find a candidate they deem better than we introduce to them, we forfeit the final fee. Most of the time, they love and prefer our private introductions to tax executive candidates better than what they source through their own resume portals.

When we represent selling/buying small to medium-sized firms, firm owners/partners also demand greater privacy when considering the sale of their practice. TaxConnections provides a safe place to discuss their business needs, elevate their practices’ online reputation, and increase revenue through new streams of business development by outsourcing work and partnering with other firms. Over three decades, we have worked tirelessly to build relationships between firm owners most organizations rarely have access to in the world of tax. There are numerous possibilities you may never have considered previously to bolster the value of your practice and service offerings.

As a globally recognized consultant to multinational organizations, accounting firms, and law firms searching for tax expertise, Kat has been retained by public accounting firms, law firms, and corporations worldwide including Apple Computer, AC Neilson, Accenture, Agilent Technologies, Allergan, Alza, American Express, American Media, Aon, Baker & McKenzie, Barclays Bank, Bechtel, Cargill, Carl Zieuss Vision, Century Aluminum, Chevron, Clorox, Citigroup, Commercials Metals, Constellation Energy, Countrywide, Del Monte, Deloitte Touche, DFS, DLA Piper, E&J Gallo Winery, Electronic Arts, Ernst &Young, Fox Entertainment, Fremont Investments, General Electric,General Motors, Herbalife, Hewlett Packard, Hyatt, Intel, Jones Lang LaSalle, Kimco Realty, KLA Tencor, Koch Industries, KPMG, Levi Strauss, Liberty Mutual, LKQ, Loews, Logitech, Lucas Film, Maersk, McKesson, Nalco, Newell Rubbermaid, Nissan, Oracle, Orbitax, Pacific Gas & Electric, PwC, QAD, SAIC, SanDisk, Sanmina, Sempra Energy, SONY, Synopsys, Ticketmaster, Trimble Navigation, Toyota, Univar, Wal-Mart, Wells Fargo, Vertex, Yahoo, Xilinx, and many more not listed here.
Contact Kat at 858,999.0053 Office/858.232.4415 Cell or kat@taxconnections.com to request a private consultation regarding the sale of your practice, adding top talent to your organization, or merging your practice with another firm owner with a book of business. The possibilities are endless; if you have a dream of a new vision for your professional life; we will scout opportunities throughout the market to make it happen.

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