Accountancy growth plans stall amid worst talent crisis in years, landmark report reveals
A new global report into the accountancy industry has revealed the starkest warning yet that firms are facing serious and sustained barriers to growth – with staffing shortages and recruitment woes leaving many unable to meet client demands.
Global outsourcing specialists Advancetrack has today released the 2025 Accounting Talent Index – a global survey of accountancy leaders across continents – which depicts a bleak outlook for the industry.
According to the new figures, 94% said talent and recruitment will impact their ability to grow – with nearly 40% saying this challenge will be “significant”. A further 74% said they’re being directly constrained from taking on more clients or billing more hours because they simply cannot find the talent to deliver the work.
The Index has been released amid a rapidly changing landscape for the sector, with data also showing that 30% of firms now report more people approaching retirement age than joining the profession.
A total of 48% of respondents said the talent shortage is moderately or significantly worse than three years ago.
Vipul Sheth, MD of Advancetrack, said: “This year’s Accounting Talent Index confirms what many in the profession have feared – that the accounting talent crisis is not only continuing, but intensifying.
“Growth is no longer being held back by ambition or opportunity, but by a lack of skilled people.
“It’s why we’re seeing record numbers of firms turning to outsourcing, offshoring, and tech investment – not just as a cost-saving measure, but as the only realistic route to sustainable growth in the current climate. The model has shifted, and so must the mindset.”
The Index shows that 61% of firms are now outsourcing work overseas to expand their resource base, and a further 33% are offshoring. This is being supported by wider strategic shifts: 44% report rising salary pressures, while nearly half are investing in tech upgrades (38%) and staff development (42%) to future-proof their business.
Vipul Sheth added: “Firms can’t simply hire their way out of this problem anymore. We’re seeing a step-change where leaders must rethink how they deliver services – not just who delivers them.
“That means being smarter about structure, tech and global resourcing. Those who move early and adapt fastest will be the ones that thrive.”
The Accounting Talent Index was compiled by Advancetrack and is based on detailed responses from accountancy firm leaders across the UK, Australia and beyond. It offers the most up-to-date picture of how the global profession is adapting in the face of growing pressure.