How to attract top graduate accounting talent

Training as an accountant is an entree into an array of different fields, from traditional accounting and auditing to broader business roles, including CFO positions, directorships, startup jobs and more.

Yet the pressure is on employers to rethink graduate recruitment, with research indicating that accounting firms may be bypassed as a career destination unless they pay more attention to what graduates want.

Shifting roles

The study, which focuses on how to attract and retain the next generation of grads into accounting and auditing, suggests that it is up to the accounting profession to ensure the pipeline of people coming into the field is excited about their career prospects, even as new technologies such as AI change the way accountants work.

“When we look at the world around us — the pace of innovation, the disruption of traditional business models, the new expectations of transparency and trust — it is clear that the role of the accountant has outgrown its old definitions,” says Dr Ash Jones, chief learning and innovation officer at CPA Australia.

“For decades, accountants were the custodians of accuracy who made sure that the numbers added up, the reports reconciled and the rules were followed. But today, the accountant’s role has changed. Financial professionals are becoming strategic influencers. They are trusted voices in shaping business decisions, public policy and community outcomes.”

Whether advising on fiscal strategy in government, helping a small business navigate digital transformation or guiding a board through integrated financial reporting, today’s CPA is a navigator of complexity, says Dr Jones.

“The finance professional’s skillset now spans far beyond compliance, as they are expected to lead conversations about AI governance, digital risk, environmental reporting and social accountability. Modern accountants are no longer historians of business; they are architects of foresight.

One of the most powerful transformations we’re witnessing is the shift from technician to translator.”

The profession’s real value now lies in how that knowledge is communicated to create understanding and drive action.

“This is the vision we need to promote to those who think accounting is dull and boring,” says Dr Jones. “It is moving so far from the old stereotypes. The emerging opportunities for finance professionals to influence business outcomes is both exciting and innovative.”

Accounting firms such as Power Tynan have long realised the importance of a well-developed graduate recruitment program, fast-tracking young accountants through their tertiary years and putting them in front of clients right from the start.

"Outside-the-box thinking is needed to find graduates, especially for businesses in regional locations,” says Amanda Kenafake CPA, CEO and executive director of Power Tynan.

For the past 18 years, the Queensland-based financial services firm has run a scholarship program for students in their final year of school and beyond. The business, which has an 80-strong team that includes members in India and the Philippines, offers a range of accounting, advice and wealth management services.

It confers between two and four scholarships per year, with many recipients going on to be managers and even partners in the business.

“We start training scholarship staff members while they’re studying at university and we help pay for their school fees, so they can work up to full-time and study part-time.

It is a win-win for students, who finish their degree with years of work experience and can fast-track through their course, given their paid work means they can get exemptions for up to seven university subjects,” says Kenafake.

“What we have to do differently is make it attractive for people to want to jump into and be a part of our industry. They do not want years sitting around learning. We have our scholarship kids, who are 17 or 18 years old, who start out working on reception. They are learning from day one.”

The business is set up to make employment easy, transparent and flexible. A formal policy document also details career pathways and learning opportunities.

“We have a continuous improvement mindset and a flexible working policy, so people can start work early or late or work a nine-day fortnight to make sure study and work go hand-in-hand,” says Kenafake. “It is very open and transparent. You don’t have to stand in line and wait for someone to leave [to be promoted].”

According to Kenafake, people will move on, no matter what, so an underlying positive culture is paramount. “That means doing what you say you’re going to do — you’ve got to deliver on that. Making people feel valued is also vital. They want to feel that what they’re doing has an impact.

“Our scholarship recipients feel like they are a part of the business. They know the team, they know the clients. They are moving forward,” she continues. “Our retention rates show that the proof is in the pudding.”

Post COVID-19, employers are increasingly turning to social media to engage with new industry members.

“It costs a lot of time and energy to run around the country going to graduate events. Employers are being a lot more targeted and thoughtful about the events they are attending in person and what they’re doing online,” says Seren Wilson, director of New Zealand recruitment firm Talent Solutions.

According to its research, LinkedIn remains the top platform for students to engage with employers. “[Engagement between students and employers on] Facebook has been declining for some time, and while Instagram is gaining traction, both are still relatively small in terms of student engagement for employer interactions.

Additionally, targeted events on campus, such as specific career fairs, student clubs and societies, as well as collaborations with particular disciplines and faculties, play a crucial role in connecting students with employers,” Wilson says.

Looking more broadly at the Asia-Pacific region, the rise of generative AI is influencing the availability of entry-level roles and workforce planning, says Alvin Lim, managing director and principal consultant of Singapore-based talent analytics and employer brand consulting firm Good People Consulting.

“Organisations are evaluating whether existing positions can be fulfilled by artificial intelligence, including agentic AI, now and in future workforce strategies,” Lim says. “Employers I have spoken with indicate reductions in their graduate program investments, with some deprioritising such initiatives or, in certain cases, discontinuing them altogether.”

With the COVID-19 pandemic now years in the past, many APAC companies require staff to return to the office full-time or are implementing stricter hybrid work policies.

“Some organisations are reportedly using aggressive return-to-office policies to intentionally increase attrition rates as they address profitability concerns and a subdued job market,” says Lim.

“Training budgets have been cut and employers are managing training internally, sometimes using AI tools such as ChatGPT for program design to save costs.”

Expand the talent pool

While many employers continue to source graduates through career fairs and other university activities, some are starting to attract graduates for their skills, regardless of their tertiary qualification.

“The workplace is rapidly changing. Graduates vying for their first role will experience more career changes than any other previous graduate cohort,” says Dr Jones.

“As a result, graduates who can demonstrate an ability to apply the increasingly important interdisciplinary skills of problem solving, critical thinking, resilience and creativity will be in demand.”

Employers who are able to establish a sense of belonging in the workplace, whether that be through flexible working arrangements or wellbeing programs, as well as clearly defined career-growth opportunities, will be the ones that attract and retain top performers now and into the future.