While talking to numerous hiring professionals this week, I want to share happy hiring stories with you. Although the public accounting firms are known to trim staffs after tax season, many are looking at what they can do to keep their tax professionals in place. They will look at who they can retire early first and then they are trimming salaries across the board. However, the tax professionals may have a different experience on salaries since there are not enough of them available to meet the demand. You can be guaranteed the demand will rise as a result of all the stimulus legislation and economic impact payments coming out of Washington D.C. Additionally, governments around the world are now making changes to their tax laws. Tax professionals are in for a very strong future in the profession. Tax experts with the experience of the Tax Reform Act under President Reagan in 1986 and the Tax Cuts And Jobs under President Trump in 2017 know what is coming. The future is big business in the tax profession.
My executive search clients are calling to share behind the scenes stories occurring right now for tax professionals. A client I have in San Francisco, CA has four openings we have been retained to fill. There was a fifth but this Tax Manager starts from Monday at home. When the stay at home initiative is lifted they will work from the office. Here is what the client did during the pandemic. First, they assured all employees their jobs were safe; they shipped all employees a company computer to their home; they sent all employees a check for $500 to cover any internet connection upgrade costs required from their homes; they then gave them an extra $100 for their favorite charity. They consistently do so much more for their employees. If anyone has 2-10 years of experience with family offices, partnerships or investment groups contact me now as I will let you know if you have the tax qualifications to join this extraordinary corporate team.
There are many things happening that are paving the way for increased opportunities in tax. Baby Boomers are retiring early and many will still want to work part-time. They are a generation with a strong work ethic and they do not require any babysitting. The Millennials and Next Gen’rs bring a lot of technology skills and they are ones helping Baby Boomers figure out technology everyone is now using. They all work very well as a team together. If there one skill that all companies look for now when they hire I would say tax and technology skills. Use your free time wisely and take every free tour of technology you can find. I highly recommend the Akore TaxCalendar as it organizes every tax return a corporation or tax practice handles. The tour is free and the knowledge is yours to keep. What I love about this Tax Calendar is how it organizes everything and it is easy to understand. As easy learning curve is golden and I took the tour and even I understand it. Another tour I would take is for Tax Prodigy Tax Provision Software. You can understand how easy to use it is if you know Microsoft Excel software. More importantly, while it normally takes 30-90 days to do the tax provision this software reduces the work to three days to three weeks. It is inexpensive compared to all of its high priced competitors that take a rocket scientist to figure out how to use. Tax Professionals have enough to learn about the new changes in tax laws and want easy to use software and this definitely what corporate tax professionals are searching for in software. The other software on the market experiencing a rise is the Transportal which manages all your transfer pricing, organizes your data, performs research, updates your master and local files, etc. They will handle everything for a corporate tax department. Want to know what all of these software programs do for an organization? If an organization has any turnover a company has all the information at their fingertips. If you are a tax executive running a tax organization, you should contact these companies and ask to have your entire tax team invited to tour these software programs. It is great training for your tax teams and is a smart way to get work done.
There is another client that retained us this week about a Senior Tax Manager, International role in Silicon Valley. When I asked how they were doing during this “stay at home” order they said “We have not missed a beat since we have been operating with our technology for a long time as a multinational. The reason I am telling you about this conversation is to encourage you to look for opportunities out there as there are and will continue to be tax jobs. Experienced decision-makers know the tax increases are coming so they are getting their tax teams in order now knowing the hiring process takes 30-90 days. Management teams moving quickly to add to their tax organizations are smart as they are positioning themselves for success now. If you are searching for a tax job now and are out of work we have created a Special Membership Link for you. Position your professional profile in front of a steady stream of people searching specifically for tax expertise. The issue for most tax professionals is making connections and TaxConnections is where you want to be to make them. If you are in the tax profession have no fear. You just need to position your tax expertise so people can find you easily and be persistent.If you listen to all of the advice we send TaxConnections Members on Fridays, you will position yourself for success!
If you are a hiring authority searching for tax expertise, we invite you to contact us to discuss your hiring needs in your tax organization now. It is guaranteed you will be very busy in the months and years ahead with tax increases on their way!
Have a question? Contact Kat Jennings.