While talking to numerous hiring professionals this week, I want to share happy hiring stories with you. Although the public accounting firms are known to trim staffs after tax season, many are looking at what they can do to keep their tax professionals in place. They will look at who they can retire early first and then they are trimming salaries across the board. However, the tax professionals may have a different experience on salaries since there are not enough of them available to meet the demand. You can be guaranteed the demand will rise as a result of all the stimulus legislation and economic impact payments coming out of Washington D.C. Additionally, governments around the world are now making changes to their tax laws. Tax professionals are in for a very strong future in the profession. Tax experts with the experience of the Tax Reform Act under President Reagan in 1986 and the Tax Cuts And Jobs under President Trump in 2017 know what is coming. The future is big business in the tax profession.
My executive search clients are calling to share behind the scenes stories occurring right now for tax professionals. A client I have in San Francisco, CA has four openings we have been retained to fill. There was a fifth but this Tax Manager starts from Monday at home. When the stay at home initiative is lifted they will work from the office. Here is what the client did during the pandemic. First, they assured all employees their jobs were safe; they shipped all employees a company computer to their home; they sent all employees a check for $500 to cover any internet connection upgrade costs required from their homes; they then gave them an extra $100 for their favorite charity. They consistently do so much more for their employees. If anyone has 2-10 years of experience with family offices, partnerships or investment groups contact me now as I will let you know if you have the tax qualifications to join this extraordinary corporate team.
There are many things happening that are paving the way for increased opportunities in tax. Baby Boomers are retiring early and many will still want to work part-time. They are a generation with a strong work ethic and they do not require any babysitting. The Millennials and Next Gen’rs bring a lot of technology skills and they are ones helping Baby Boomers figure out technology everyone is now using. They all work very well as a team together. If there one skill that all companies look for now when they hire I would say tax and technology skills. Use your free time wisely and take every free tour of technology you can find. I highly recommend the Akore TaxCalendar as it organizes every tax return a corporation or tax practice handles. The tour is free and the knowledge is yours to keep. What I love about this Tax Calendar is how it organizes everything and it is easy to understand. As easy learning curve is golden and I took the tour and even I understand it. Another tour I would take is for Tax Prodigy Tax Provision Software. You can understand how easy to use it is if you know Microsoft Excel software. More importantly, while it normally takes 30-90 days to do the tax provision this software reduces the work to three days to three weeks. It is inexpensive compared to all of its high priced competitors that take a rocket scientist to figure out how to use. Tax Professionals have enough to learn about the new changes in tax laws and want easy to use software and this definitely what corporate tax professionals are searching for in software. The other software on the market experiencing a rise is the Transportal which manages all your transfer pricing, organizes your data, performs research, updates your master and local files, etc. They will handle everything for a corporate tax department. Want to know what all of these software programs do for an organization? If an organization has any turnover a company has all the information at their fingertips. If you are a tax executive running a tax organization, you should contact these companies and ask to have your entire tax team invited to tour these software programs. It is great training for your tax teams and is a smart way to get work done.
There is another client that retained us this week about a Senior Tax Manager, International role in Silicon Valley. When I asked how they were doing during this “stay at home” order they said “We have not missed a beat since we have been operating with our technology for a long time as a multinational. The reason I am telling you about this conversation is to encourage you to look for opportunities out there as there are and will continue to be tax jobs. Experienced decision-makers know the tax increases are coming so they are getting their tax teams in order now knowing the hiring process takes 30-90 days. Management teams moving quickly to add to their tax organizations are smart as they are positioning themselves for success now. If you are searching for a tax job now and are out of work we have created a Special Membership Link for you. Position your professional profile in front of a steady stream of people searching specifically for tax expertise. The issue for most tax professionals is making connections and TaxConnections is where you want to be to make them. If you are in the tax profession have no fear. You just need to position your tax expertise so people can find you easily and be persistent.If you listen to all of the advice we send TaxConnections Members on Fridays, you will position yourself for success!
If you are a hiring authority searching for tax expertise, we invite you to contact us to discuss your hiring needs in your tax organization now. It is guaranteed you will be very busy in the months and years ahead with tax increases on their way!
Have a question? Contact Kat Jennings.
Kat Jennings, TaxConnections, CEO and Founder and Advisory Team provides three areas of services: 1) Internationally recognized, retained executive search services for multinational corporations, public accounting firms, and law firms; 2) Introductions of sellers to buyers of small and medium size accounting firms; and 3) Provide brand building and education services that support and prepare accounting firm owners to buy/sell an accounting practice. We focus on educating the journey to sell a practice and how to increase firm revenue prior to any sale. Our program ensures you start years prior to a sale by learning what is expected of you during the selling process, and introducing firm Partners to cross selling opportunities that are easy to implement and reduce your workload at the same time. We introduce you to value added connections to smartly grow revenue in your accounting practice.
Kat Jennings has been retained by organizations worldwide to locate tax professionals with highly specialized tax knowledge and expertise. She has a thorough understanding of the tax business community, with a proven record of stellar performances matching professionals with organizations. Bringing two parties together to work successfully is the art of understanding personalities, cultural fit, expectations by both parties, flexible or inflexible work environments, understanding what drives and motivates each party, and revolves around the personality and ethics of each executive team.
Kat is a widely recognized expert in high level, tax executive search, as well as connecting buyers and sellers of accounting firms. TaxConnections provides and educates small to medium size accounting firms owners and Partners how to prepare and sell their firms so they can build a succession plan for their retirement. With larger firms seeking to acquire smaller accounting practices, there is a real need to help firm owners prepare to be acquired. Most firm owners are unaware they are not ready to sell when they decide to retire. TaxConnections educates firm owners’ what they need to do years in advance of selling an accounting firm practice.
Senior tax executives expect the utmost privacy when being introduced to multinational organizations about a new tax opportunity under consideration. Having said that, companies searching for a new head of tax expecting tax executive candidates to submit their resume through a resume portal, will never see a full slate of outstanding tax executives available due to a candidates’ desire for greater privacy. This is why privacy focused Uber Tax Recruiters consistently outperform in-house recruiters on tax executive searches.
We offer our clients a Performance Retainer Agreement arrangement so their HR department can still recruit and compete with the tax candidates we present on Head of Tax searches. The client pays us a partial fee upfront, and if they find a candidate they deem better than we introduce to them, we forfeit the final fee. Most of the time, they love and prefer our private introductions to tax executive candidates better than what they source through their own resume portals.
When we represent selling/buying small to medium-sized firms, firm owners/partners also demand greater privacy when considering the sale of their practice. TaxConnections provides a safe place to discuss their business needs, elevate their practices’ online reputation, and increase revenue through new streams of business development by outsourcing work and partnering with other firms. Over three decades, we have worked tirelessly to build relationships between firm owners most organizations rarely have access to in the world of tax. There are numerous possibilities you may never have considered previously to bolster the value of your practice and service offerings.
As a globally recognized consultant to multinational organizations, accounting firms, and law firms searching for tax expertise, Kat has been retained by public accounting firms, law firms, and corporations worldwide including Apple Computer, AC Neilson, Accenture, Agilent Technologies, Allergan, Alza, American Express, American Media, Aon, Baker & McKenzie, Barclays Bank, Bechtel, Cargill, Carl Zieuss Vision, Century Aluminum, Chevron, Clorox, Citigroup, Commercials Metals, Constellation Energy, Countrywide, Del Monte, Deloitte Touche, DFS, DLA Piper, E&J Gallo Winery, Electronic Arts, Ernst &Young, Fox Entertainment, Fremont Investments, General Electric,General Motors, Herbalife, Hewlett Packard, Hyatt, Intel, Jones Lang LaSalle, Kimco Realty, KLA Tencor, Koch Industries, KPMG, Levi Strauss, Liberty Mutual, LKQ, Loews, Logitech, Lucas Film, Maersk, McKesson, Nalco, Newell Rubbermaid, Nissan, Oracle, Orbitax, Pacific Gas & Electric, PwC, QAD, SAIC, SanDisk, Sanmina, Sempra Energy, SONY, Synopsys, Ticketmaster, Trimble Navigation, Toyota, Univar, Wal-Mart, Wells Fargo, Vertex, Yahoo, Xilinx, and many more not listed here.
Contact Kat at 858,999.0053 Office/858.232.4415 Cell or kat@taxconnections.com to request a private consultation regarding the sale of your practice, adding top talent to your organization, or merging your practice with another firm owner with a book of business. The possibilities are endless; if you have a dream of a new vision for your professional life; we will scout opportunities throughout the market to make it happen.
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