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Where Have All The Accountants Gone?
KPMG’s new training campus and VALiNTRY’s V-FITT System hold the key to recruitment shortage
Orlando, FL – Accounting giant KPMG recently announced that it is transforming a 55-acre Central Florida site near the Orlando International Airport into a state-of-the art innovation and training center to prepare accounting and audit professionals for the rapid changes taking place in their fields. The move highlights the looming crisis associated with the public accountant shortage and the inevitable recruitment and retention challenges.
The KPMG investment, underscores the value of a new, proprietary recruitment system V-FITT , developed by Orlando-based VALiNTRY Services, a technology, marketing and staffing consultancy. VALiNTRY has experienced significant national growth through its offices in Florida, Nashville and Dallas. This success has been propelled by the shortage of audit and accounting graduates / CPAs along with the increasing technological skills requirements for candidates and their creative use of technology to find and evaluate candidates.
“VALiNTRY’s proprietary V-FITT Recruiting system evolved out of our own needs and work with clients including large and small public accounting clients, like KPMG as well as other major corporations. We are really a technology company that uses technology to find talent. Our recruiters never consider a candidate for a job whose resume has not been pre-evaluated and matched by our V-FITT system. It allows the recruitment team to spend more quality time getting to know the best candidates for our clients’ needs instead of searching for resumes and hoping for a match,” said Steve Wise, President of VALiNTRY’s consulting division.
Wise stated that V-FITT, a system that operates in the cloud, has compiled detailed data and resumes of more than 2 million job seekers in just one year.
“For more than a decade, jobs related to accounting have ranked high in top ten lists of ‘most challenging to fill’, especially at public accounting firms,” said Joe Parris, CEO and co-founder of VALiNTRY. “As the perception of accountants continues to shift from a stereotypical image of a sole practitioner in an office with a 10 key adding machine to a technologically savvy financial specialist, failure to upgrade the required skill sets of existing employees with evolving job requirements can result in costly inefficiency and fail to support a growing practice.”
The Bureau of Labor Statistics (BLS), reported that in April 2017, there were 373,000 seasonally- adjusted financial services jobs vacant across the county. Between 2014 and 2024, BLS estimates the number of accountants and auditors needed to accommodate growth and replacement needs will have grown by nearly a half million positions, a total of 1,475,000 jobs. Florida is ranked fourth among states with the highest per capita employment in this category, behind California, Texas and New York with 10 of every 1,000 jobs related to accounting and auditing.
VALiNTRY is an IT consulting firm with a staff augmentation division offering long term and “just in time” employee resources within the technology, accounting and marketing arenas. VALiNTRY has offices nationwide with hubs in Orlando, Dallas and Nashville. In 2016, the organization was the recipient of the GROWFL “Florida Company to Watch” Award, a coveted distinction amongst second-stage growth companies.