Technological Advancements Continue to Change the Way Tax Pros Work

As we start the 2022 tax filing season, the future of work continues to be a topic of discussion among not only the tax and accounting profession, but globally, in every industry. The pandemic has changed how everyone works, lives and everything in between, but what does it mean specifically for tax pros? Did we ever think a remote, at-home way of work would be an option for us? COVID-19 has made everyone stop and adapt to the changing times, and it’s been essential that we as an industry adopt these new ways of working, not only for safety, but to attract the next generation of talent.

Digital transformation

Even before the pandemic fast-tracked the transition to hybrid work, tax professionals and accountants were beginning to embrace digital transformation by automating compliance work, leading with advisory services and more. Firms can no longer wait to modernize and the leaders in the space are realizing that changes need to be made — and quickly. Cloud-based collaboration tools can save your teams time, energy and more. Not only will it help your current teams and work, but it will also make you more appealing to those you’re recruiting. New talent is looking for firms and workplaces that are keeping up with the latest technology.

Effective, hybrid workplaces

This digital transformation has so many benefits for your workplace and organization. Not only does it free up time for those advisory services, it can help bolster communications between your employees, build more time for work-life balance, and build client relationships even more — which are all required to build an efficient, positive workplace environment. Working from home allows many people to be more streamlined, effective and happy where they work. When you’re able to promote a hybrid workplace, it makes you more competitive in the market with recruiting.

The next generation of talent

Recent college graduates and younger professionals have all adapted to the hybrid and digital workplace much quicker and easier than older generations and tax veterans. Many of today’s employees prefer to work from home, if not always, at least some of the time. If we want to retain and hire new talent that is eager to build the next generation of tax professionals, our firms and workplaces need to adapt to the times and make sure we’re able and willing to change the way we work, learn new things, develop programs internally and with clients to lead with advisory and automate more of our compliance tax work and more.

Now more than ever before, it’s important for firms to make changes. If we don’t, we could find ourselves falling behind more adaptable, technological competitors, as that is where the recent graduates and younger professionals are drawn to for work.

Everyone knows the pandemic has forever changed the way we work. It’s up to us in the tax industry to make sure we’re moving our firms and our workplaces along by keeping up with the latest technological advancements, hiring with technology in mind and learning how to work best within the new hybrid workplace.