Latest news with #Sikich
Forbes
14-05-2025
- Business
- Forbes
The AI Advantage: How To Put More Focus On What Truly Matters
Heather Peters, CHRO, Sikich, a global company specializing in technology-enabled professional services. getty While there's plenty of speculation about what the future holds for AI, one thing is clear to me: AI is a today thing, not a tomorrow thing. As HR leaders, it's time to consider what role we want this technology to play in our field's future. As I think back on all the chatter about AI in the past year, it seems the conversation shifted away from the theoretical to the practical. Now, there's an eagerness, especially among early adopters, to share creative and successful use cases for AI. I find this knowledge sharing and collaboration in a time of uncharted waters to be incredibly inspiring. As a people leader, I know we must embrace AI to drive efficiency and empower HR teams to focus on what truly matters: meaningful and direct employee interaction and support. While there's no one-size-fits-all approach, here are three practical ways to unlock the power of AI and optimize your HR strategy. Evolving to meet the needs of an ever-changing workforce is critical, and extensive research shows that teaching employees to use AI effectively has many benefits. Some key findings include: • Productivity: When employees know how to leverage automation tools, they can see significant gains in productivity. The time saved allows them to concentrate on higher-value work that requires critical thinking and creativity. • Better Decision-Making: AI-driven insights enable employees to access more accurate data, leading to more informed and effective decision-making. • Employee Engagement: Reducing monotonous, repetitive tasks through AI implementation has been linked to increased job satisfaction. As employees shift toward more creative and strategic responsibilities, engagement and overall morale improve. At my company, Sikich, we've invested in AI learning opportunities to ensure our workforce is equipped to leverage new technologies effectively. From informal lunch-and-learn programs to quarterly training workshops, as well as having an AI Awareness Pilot Team, we show employees how they can utilize AI in their roles. Generative AI can help augment your human capital efforts by taking over routine tasks. To determine what you can automate, conduct an audit of your team's workflow to identify areas that don't necessarily need a human touch. These will typically be the easier, repetitive or time-consuming tasks that are more completion-oriented. I frequently use the term "special sauce" when making these distinctions. Take recruiting, for example. Reviewing and vetting 200 résumés from candidates who all have accounting degrees, have two years of work experience and are authorized to work in the U.S. is a rather repetitive and time-consuming exercise. It doesn't require the special sauce—in this case, a human recruiter's ability to understand nuance, make connections, develop relationships and determine culture fit. So, ask yourself, which tasks require the special sauce, and which don't? That's how you can pinpoint opportunities for automation. Data is critical to making sound and innovative business decisions, but only if you can make it work for you. For example, AI-powered tools automatically analyze large volumes of employee feedback from surveys, performance reviews and engagement programs. Then they can identify patterns and trends that might otherwise go unnoticed, such as shifts in engagement or satisfaction that signify turnover risk. At Sikich, we leverage AI to easily and efficiently synthesize data from our employee listening programs. The trends we see and hear then inform how we address issues proactively, thus enhancing our employee engagement efforts. AI can also assist HR teams by providing real-time insights into skill gaps and workforce performance, enabling you to make data-driven decisions on recruitment, training and development strategies. As HR leaders, future-proofing our organization's success means embracing and advocating for AI use. To truly unlock the power of this technology, we must prioritize a workplace culture of curiosity and innovation. By doing so, we will find endless possibilities and step into uncharted territories collaboratively and positively. Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
NDTV
29-04-2025
- Business
- NDTV
US Accounting Firms Expand Ops In India To Address Talent Crunch: Report
Bengaluru: US accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations in India to tackle an acute shortage of accountants at home. The surge in recruitment has started boosting enrolment in specialised commerce courses in India, and could establish Asia's No. 3 economy as a hub for accounting talent, reminiscent of the 90s outsourcing boom that revolutionised the tech industry. "This could be the breakthrough moment for public accounting firms in India," Balaji Iyer, managing partner at Moss Adams India, told Reuters. "Right now, the US is facing a significant and growing shortage of certified public accountants, a trend that will only intensify in the coming years." About 1.78 million people were working as accountants in the United States in 2024, about 10 percent fewer than in 2019, according to US Bureau of Labor Statistics data, as many seasoned accountants retired without a reliable pipeline of qualified replacements. The American Institute of CPAs (AICPA), the national body that conducts and grades qualifying exams and sets auditing standards for the profession, admitted a "talent pipeline issue" as it commissioned an independent study last year. About half its members are over the age of 50. "The accountant shortage is being acutely felt throughout the market," the National Talent Advisory Group study found, adding that several businesses such as toymaker Mattel reported a delay to annual reports and other key filings due to the shortage. Accountancy - known for long hours, lower pay than many other finance jobs, and a rule effectively requiring a fifth year in university for CPA licensing - has also become unpopular with younger people. "Fewer students are majoring in accounting, partly because the field is seen as less exciting than tech or finance, and automation has added uncertainty," said Rebecca Hann, associate dean of research at University of Maryland's Robert H. Smith School of Business. Hann published a research paper on the country's accountant shortage last year. RSM US aims to more than double its India workforce to 5,000 by 2027, the firm told Reuters. Sikich also said it was increasingly hiring in India to fill vacancies for accountants and auditors, as well as tech talent to support its automation and AI-related efforts. "Ultimately, it's less about filling roles one for one and more about transforming how we deliver services, using both highly skilled talent and advanced technology to meet evolving client demands," said Bobby Achettu, principal at Sikich and India operations lead. The firm has a 200-member team in India, accounting for around 10% of its global workforce. Larger rivals Deloitte, EY, KPMG, and PwC, the "Big Four" of accounting, had a combined headcount of between 140,000-160,000 people in their India global capability centres (GCCs) as of 2024, according to market intelligence firm UnearthInsight. The Big Four companies did not respond to emails seeking comment. Talent pipeline The turn to India for accounting talent echoes similar moves in tech over the past two decades, where global companies including Walmart, Microsoft and JPMorgan Chase have set up offices in India to tap into the South Asian country's engineering talent. The US Bureau of Labor has projected the number of accountant and auditor jobs will grow 6% from 2023 to 2033, outpacing the average for all occupations. Some of the mid-sized accounting firms are so desperate to solve the recruitment gap that they are hiring direct from Indian campuses and even offering to sponsor CPA courses for their younger talent. "First, it was the 'Big Four' accounting firms. Then, mid-sized firms such as EisnerAmper and BDO also started hiring from us," said Biju Toms, Director, Department of Professional Studies at Christ University in Bengaluru. That has boosted demand for specialised courses such as the college's Bachelor of Commerce (International Finance), which got around 3,000 applications for the 120 available places. "There is always the need for trained talent with industry exposure, and cost arbitrage into play, when you operate from India," Toms said. "So, similar to outsourcing in tech, accounting is a new area that is really opening up."
Time of India
29-04-2025
- Business
- Time of India
U.S. accounting firms tap India to alleviate talent crunch
U.S. accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations in India to tackle an acute shortage of accountants at home. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" The surge in recruitment has started boosting enrolment in specialised commerce courses in India, and could establish Asia's No. 3 economy as a hub for accounting talent, reminiscent of the 90s outsourcing boom that revolutionised the tech industry. "This could be the breakthrough moment for public accounting firms in India," Balaji Iyer, managing partner at Moss Adams India, told Reuters. "Right now, the U.S. is facing a significant and growing shortage of certified public accountants, a trend that will only intensify in the coming years." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like [Click Here] 2025 Top Trending local enterprise accounting software Esseps Learn More Undo About 1.78 million people were working as accountants in the United States in 2024, about 10 percent fewer than in 2019, according to U.S. Bureau of Labor Statistics data, as many seasoned accountants retired without a reliable pipeline of qualified replacements. The American Institute of CPAs (AICPA), the national body that conducts and grades qualifying exams and sets auditing standards for the profession, admitted a "talent pipeline issue" as it commissioned an independent study last year. Live Events About half its members are over the age of 50. "The accountant shortage is being acutely felt throughout the market," the National Talent Advisory Group study found, adding that several businesses such as toymaker Mattel reported a delay to annual reports and other key filings due to the shortage. Accountancy - known for long hours, lower pay than many other finance jobs , and a rule effectively requiring a fifth year in university for CPA licensing - has also become unpopular with younger people. "Fewer students are majoring in accounting, partly because the field is seen as less exciting than tech or finance, and automation has added uncertainty," said Rebecca Hann, associate dean of research at University of Maryland's Robert H. Smith School of Business. Hann published a research paper on the country's accountant shortage last year. RSM US aims to more than double its India workforce to 5,000 by 2027, the firm told Reuters. Sikich also said it was increasingly hiring in India to fill vacancies for accountants and auditors, as well as tech talent to support its automation and AI-related efforts. "Ultimately, it's less about filling roles one for one and more about transforming how we deliver services, using both highly skilled talent and advanced technology to meet evolving client demands," said Bobby Achettu, principal at Sikich and India operations lead. The firm has a 200-member team in India, accounting for around 10% of its global workforce. Larger rivals Deloitte, EY, KPMG, and PwC, the "Big Four" of accounting, had a combined headcount of between 140,000-160,000 people in their India global capability centres (GCCs) as of 2024, according to market intelligence firm UnearthInsight. The Big Four companies did not respond to emails seeking comment. TALENT PIPELINE The turn to India for accounting talent echoes similar moves in tech over the past two decades, where global companies including Walmart, Microsoft and JPMorgan Chase have set up offices in India to tap into the South Asian country's engineering talent. The U.S. Bureau of Labor has projected the number of accountant and auditor jobs will grow 6% from 2023 to 2033, outpacing the average for all occupations. Some of the mid-sized accounting firms are so desperate to solve the recruitment gap that they are hiring direct from Indian campuses and even offering to sponsor CPA courses for their younger talent. "First, it was the 'Big Four' accounting firms. Then, mid-sized firms such as EisnerAmper and BDO also started hiring from us," said Biju Toms, Director, Department of Professional Studies at Christ University in Bengaluru. That has boosted demand for specialised courses such as the college's Bachelor of Commerce (International Finance), which got around 3,000 applications for the 120 available places. "There is always the need for trained talent with industry exposure, and cost arbitrage into play, when you operate from India," Toms said. "So, similar to outsourcing in tech, accounting is a new area that is really opening up."
Yahoo
29-04-2025
- Business
- Yahoo
U.S. accounting firms tap India to alleviate talent crunch
By Sai Ishwarbharath B BENGALURU (Reuters) -U.S. accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations in India to tackle an acute shortage of accountants at home. The surge in recruitment has started boosting enrolment in specialised commerce courses in India, and could establish Asia's No. 3 economy as a hub for accounting talent, reminiscent of the 90s outsourcing boom that revolutionised the tech industry. "This could be the breakthrough moment for public accounting firms in India," Balaji Iyer, managing partner at Moss Adams India, told Reuters. "Right now, the U.S. is facing a significant and growing shortage of certified public accountants, a trend that will only intensify in the coming years." About 1.78 million people were working as accountants in the United States in 2024, about 10 percent fewer than in 2019, according to U.S. Bureau of Labor Statistics data, as many seasoned accountants retired without a reliable pipeline of qualified replacements. The American Institute of CPAs (AICPA), the national body that conducts and grades qualifying exams and sets auditing standards for the profession, admitted a 'talent pipeline issue' as it commissioned an independent study last year. About half its members are over the age of 50. 'The accountant shortage is being acutely felt throughout the market," the National Talent Advisory Group study found, adding that several businesses such as toymaker Mattel reported a delay to annual reports and other key filings due to the shortage. Accountancy - known for long hours, lower pay than many other finance jobs, and a rule effectively requiring a fifth year in university for CPA licensing - has also become unpopular with younger people. "Fewer students are majoring in accounting, partly because the field is seen as less exciting than tech or finance, and automation has added uncertainty," said Rebecca Hann, associate dean of research at University of Maryland's Robert H. Smith School of Business. Hann published a research paper on the country's accountant shortage last year. RSM US aims to more than double its India workforce to 5,000 by 2027, the firm told Reuters. Sikich also said it was increasingly hiring in India to fill vacancies for accountants and auditors, as well as tech talent to support its automation and AI-related efforts. "Ultimately, it's less about filling roles one for one and more about transforming how we deliver services, using both highly skilled talent and advanced technology to meet evolving client demands," said Bobby Achettu, principal at Sikich and India operations lead. The firm has a 200-member team in India, accounting for around 10% of its global workforce. Larger rivals Deloitte, EY, KPMG, and PwC, the "Big Four" of accounting, had a combined headcount of between 140,000-160,000 people in their India global capability centres (GCCs) as of 2024, according to market intelligence firm UnearthInsight. The Big Four companies did not respond to emails seeking comment. TALENT PIPELINE The turn to India for accounting talent echoes similar moves in tech over the past two decades, where global companies including Walmart, Microsoft and JPMorgan Chase have set up offices in India to tap into the South Asian country's engineering talent. The U.S. Bureau of Labor has projected the number of accountant and auditor jobs will grow 6% from 2023 to 2033, outpacing the average for all occupations. Some of the mid-sized accounting firms are so desperate to solve the recruitment gap that they are hiring direct from Indian campuses and even offering to sponsor CPA courses for their younger talent. "First, it was the 'Big Four' accounting firms. Then, mid-sized firms such as EisnerAmper and BDO also started hiring from us," said Biju Toms, Director, Department of Professional Studies at Christ University in Bengaluru. That has boosted demand for specialised courses such as the college's Bachelor of Commerce (International Finance), which got around 3,000 applications for the 120 available places. "There is always the need for trained talent with industry exposure, and cost arbitrage into play, when you operate from India," Toms said. "So, similar to outsourcing in tech, accounting is a new area that is really opening up." Sign in to access your portfolio
Reuters
29-04-2025
- Business
- Reuters
U.S. accounting firms tap India to alleviate talent crunch
BENGALURU, April 29 (Reuters) - U.S. accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations in India to tackle an acute shortage of accountants at home. The surge in recruitment has started boosting enrolment in specialised commerce courses in India, and could establish Asia's No. 3 economy as a hub for accounting talent, reminiscent of the 90s outsourcing boom that revolutionised the tech industry. "This could be the breakthrough moment for public accounting firms in India," Balaji Iyer, managing partner at Moss Adams India, told Reuters. "Right now, the U.S. is facing a significant and growing shortage of certified public accountants, a trend that will only intensify in the coming years." About 1.78 million people were working as accountants in the United States in 2024, about 10 percent fewer than in 2019, according to U.S. Bureau of Labor Statistics data, as many seasoned accountants retired without a reliable pipeline of qualified replacements. The American Institute of CPAs (AICPA), the national body that conducts and grades qualifying exams and sets auditing standards for the profession, admitted a 'talent pipeline issue' as it commissioned an independent study last year. About half its members are over the age of 50. 'The accountant shortage is being acutely felt throughout the market," the National Talent Advisory Group study found, adding that several businesses such as toymaker Mattel reported a delay to annual reports and other key filings due to the shortage. Accountancy - known for long hours, lower pay than many other finance jobs, and a rule effectively requiring a fifth year in university for CPA licensing - has also become unpopular with younger people. "Fewer students are majoring in accounting, partly because the field is seen as less exciting than tech or finance, and automation has added uncertainty," said Rebecca Hann, associate dean of research at University of Maryland's Robert H. Smith School of Business. Hann published a research paper on the country's accountant shortage last year. RSM US aims to more than double its India workforce to 5,000 by 2027, the firm told Reuters. Sikich also said it was increasingly hiring in India to fill vacancies for accountants and auditors, as well as tech talent to support its automation and AI-related efforts. "Ultimately, it's less about filling roles one for one and more about transforming how we deliver services, using both highly skilled talent and advanced technology to meet evolving client demands," said Bobby Achettu, principal at Sikich and India operations lead. The firm has a 200-member team in India, accounting for around 10% of its global workforce. Larger rivals Deloitte, EY, KPMG, and PwC, the "Big Four" of accounting, had a combined headcount of between 140,000-160,000 people in their India global capability centres (GCCs) as of 2024, according to market intelligence firm UnearthInsight. The Big Four companies did not respond to emails seeking comment. TALENT PIPELINE The turn to India for accounting talent echoes similar moves in tech over the past two decades, where global companies including Walmart (WMT.N), opens new tab, Microsoft (MSFT.O), opens new tab and JPMorgan Chase (JPM.N), opens new tab have set up offices in India to tap into the South Asian country's engineering talent. The U.S. Bureau of Labor has projected the number of accountant and auditor jobs will grow 6% from 2023 to 2033, outpacing the average for all occupations. Some of the mid-sized accounting firms are so desperate to solve the recruitment gap that they are hiring direct from Indian campuses and even offering to sponsor CPA courses for their younger talent. "First, it was the 'Big Four' accounting firms. Then, mid-sized firms such as EisnerAmper and BDO also started hiring from us," said Biju Toms, Director, Department of Professional Studies at Christ University in Bengaluru. That has boosted demand for specialised courses such as the college's Bachelor of Commerce (International Finance), which got around 3,000 applications for the 120 available places. "There is always the need for trained talent with industry exposure, and cost arbitrage into play, when you operate from India," Toms said. "So, similar to outsourcing in tech, accounting is a new area that is really opening up."
