Florida, the third most populous state in the US, is currently facing a pressing issue – a significant labor shortage, with only 53 available workers for every 100 open jobs and a 2.7% unemployment rate. Addressing this challenge is crucial for the state’s economic growth and stability. It’s clear that companies must adapt to these evolving needs to succeed in the current business landscape. One way to do so is with a staffing partner that can help meet the demands of the workforce, enhance agility, and enable efficient scaling.
The shortage of qualified candidates in Florida has created significant challenges for businesses, with 73% of job creators facing difficulties recruiting skilled individuals. Additionally, over 58% of employers expect to provide training and upskilling for their current employees, according to the Florida Chamber of Commerce.
Impact on the Finance and Accounting Sector
The Finance and Accounting sector is particularly vulnerable to this shortage, with a large portion of accountants approaching retirement. In fact, approximately three-quarters of US accountants are currently at or near retirement age. Coupled with the decreasing number of accounting graduates, this has led to a decline in the number of AICPA members, which dropped from 430,000 in 2017 to 400,000 last year.
Addressing the Labor Shortage with a Staffing Partner
The labor shortage in Florida, particularly in the finance and accounting sector, presents a critical challenge for businesses in the region. The need for skilled talent is evident, and companies must adapt to ensure continued growth and success. Partnering with expert staffing agencies like Atrium enables companies to navigate the competitive job market and address the specific needs of businesses, ultimately bridging the gap between employers and qualified candidates.
Finance and Accounting Professionals in South Florida
This issue is even more pronounced for businesses looking to hire finance or accounting talent in Miami-Dade, Broward, or West Palm County. South Florida’s growing, diverse, and multicultural business environment is driving an increased demand, especially for bilingual professionals. Additionally, key industries in the area, including real estate, hospitality, healthcare, travel/leisure, entertainment, and tourism, have specific needs for finance and accounting professionals with unique skill sets.
“Recent statistics point to the growing disconnect between employers and candidates. Employers are struggling with issues like identifying qualified candidates, high turnover, and meeting the business need for evolving skill sets. We see these challenges daily with our clients and take a strategic approach to overcoming these obstacles, ensuring the right candidates are connected with the right client,” says Nick Baurichter, Account Director – Finance & Accounting at Atrium.
Atrium’s Local Expertise
In response, Atrium’s South Florida team, including Nick, has stepped in with the expertise of local, experienced recruiters who specialize in providing tailored talent solutions. These solutions assist companies in navigating the highly competitive local job market, especially when it comes to Finance and Accounting positions.
Our South Florida team, with its extended partnership with offices in the Tampa and Orlando areas, possesses capabilities and reach that go far beyond the local region. From Atrium’s exclusive database of motivated and qualified candidates, as well as passive job seekers, to the high-touch service we provide, the South Florida team helps businesses attract and retain top finance and accounting talent.
Thriving in South Florida’s Economy
With effective planning and local expertise, businesses can effectively overcome the obstacles posed by the labor shortage and thrive in South Florida’s vibrant economy. Atrium stands ready to support businesses in meeting these challenges and making the most of the opportunities presented by the unique job market dynamics in South Florida.
