While speaking to an accounting firm principal recently, he mentioned layoffs in the firms. What I shared privately surprised him. Last week, several clients called needing to hire more people in their tax organizations. Yes, we are in the middle of a pandemic and corporate tax departments are actively hiring. In the words of one Tax Director, “We are in more than one hundred countries globally and are already set up to work remotely from home any day of the week. We have a lot of experience working remotely so we are getting our work done.”
Another fact you may find interesting, I recently placed a tax executive and they start this coming week working from home. Working remote was not in the job description. The company wired up a computer and sent it to their home. Fortunately, there are corporate decision-makers who take action and get things done no matter what the circumstances. They know tax increases are coming and are hiring trained tax experts in their tax departments now. They know there is a shortage of available trained tax expertise given the current and certainly future demand.
What is happening in the tax job market right now?
1. Baby Boomer tax professional early retirements are increasing the availability of jobs.
2. Tax reform and tax technology requires tax professionals with a new set of tools.
3. Tax professionals with software technology expertise are thriving in this market.
4. The skills and knowledge required are changing for tax professionals every day.