“There’s always been a competition to hire top talent, but with the number of open jobs today, employees have more options than ever before.

According to the U.S. Bureau of Labor Statistics, 4.3 million Americans quit their jobs in August, leaving 10.4 million open positions, a decrease from the record-breaking 11.1 million open positions in July. It’s being called “The Great Resignation” and professional services firms in the Midwest and South are being hit hardest.

CPA firms are acutely at risk during this time. A growing shortage of accountants has been brewing for more than a decade, as many baby boomers reach retirement age and fewer young people are interested in becoming CPAs.”

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