How to Hire a Staff Accountant: A Complete Guide for Hiring Leaders

Understanding What to Look for When Hiring a Staff Accountant

Before you start the process to hire a staff accountant, you need to know exactly what you’re looking for. Staff accountants handle the daily financial operations that keep your business running smoothly.

Key Responsibilities of a Staff Accountant

Staff accountants maintain your general ledger and reconcile accounts. They manage the month-end and year-end close processes, which means your financial statements get completed on time. Additionally, they prepare financial reports, handle accounts payable and receivable, and support audits.

These professionals also assist with budget preparation and ensure compliance with accounting standards. In other words, they’re the people who make sure your numbers are accurate and your financial house is in order.

Essential Skills for Staff Accountant Hiring

Most staff accountants hold a bachelor’s degree in accounting or finance. They need solid GAAP knowledge and proficiency with accounting software like QuickBooks, NetSuite, or SAP. Excel skills matter too, especially pivot tables and VLOOKUPs.

Beyond technical abilities, look for attention to detail and strong deadline management. Communication skills are equally important since they’ll work with various departments. Furthermore, industry-specific experience can be valuable depending on your sector.

Staff Accountant Experience Levels to Consider

Entry-level candidates with zero to two years of experience are recent graduates eager to learn. They need supervision but bring fresh knowledge and enthusiasm. Mid-level professionals with two to five years can work independently and handle standard accounting tasks with minimal oversight.

Senior staff accountants with five-plus years of experience can mentor others and manage complex transactions. Consequently, your choice depends on your team’s current structure and needs.

Step-by-Step: How to Hire a Staff Accountant

The traditional hiring process involves multiple stages. Each step requires time and attention to detail when you hire a staff accountant through conventional methods.

1. Define Your Staff Accountant Hiring Needs

Start by assessing your workload. What tasks are overwhelming your current team? Is this a temporary seasonal need or a permanent position? Identifying these gaps helps you determine what level of experience you need.

Next, separate must-haves from nice-to-haves. For instance, GAAP knowledge and specific software experience might be required. Meanwhile, CPA candidacy or industry experience could be preferred but not essential.

2. Create a Compelling Staff Accountant Job Description

Use a clear title like “Staff Accountant” rather than creative variations. List responsibilities in detail but keep them realistic. Similarly, separate required qualifications from preferred ones clearly.

Transparency about salary range attracts more applicants in this competitive market. Don’t forget to sell your company. Highlight growth opportunities, work-life balance, and the technology tools they’ll use. After all, candidates are evaluating you just as much as you’re evaluating them.

3. Determine Competitive Compensation for Staff Accountants

Research market rates for your region. According to the U.S. Bureau of Labor Statistics, accountants and auditors earn a median annual wage of $79,880. However, this varies by location and experience level.

Consider your total compensation package beyond base salary. Benefits, retirement plans, PTO, and flexible work arrangements all matter. Professional development support, especially for CPA exam preparation, can be a differentiator. With unemployment for accountants at just 1.3%, you’re competing for limited talent.

4. Source Staff Accountant Candidates

Post your opening on major job boards like Indeed and LinkedIn. Professional associations such as AICPA and IMA can also help you reach qualified candidates. University recruiting at local colleges with accounting programs is another option.

Employee referrals often yield the best candidates. Therefore, incentivize your team to refer qualified professionals. Just be prepared to sort through hundreds of applications, many from unqualified candidates.

5. Screen Staff Accountant Resumes and Applications

Look for red flags like frequent job hopping or unexplained employment gaps. Conversely, steady career progression and relevant software experience are green flags. CPA or CPA candidate status is a plus.

Plan for two to three hours per 100 resumes received. Unfortunately, over 90% of applications may not meet basic qualifications. This screening phase is time-consuming but necessary.

6. Conduct Phone Screenings

Phone screenings help you verify basics before investing in full interviews. Ask about salary expectations to ensure alignment. Check their available start date and work location preferences. Additionally, pose basic technical competency questions and ask why they’re leaving their current role.

Each screening takes 15 to 20 minutes. Scheduling can be challenging since most qualified candidates are currently employed and have limited availability.

7. Assess Technical Skills for Staff Accountant Roles

Prepare technical interview questions about month-end close processes and journal entries. Ask about reconciliation methodology and GAAP application. Software-specific questions help gauge their actual proficiency.

Consider administering skills tests for Excel and accounting scenarios. Involve your current accounting staff to assess technical fit. Their input is invaluable since they’ll be working alongside the new hire.

8. Conduct In-Depth Staff Accountant Interviews

Structure two to three interview rounds. The first round with the hiring manager covers technical fit and role expectations. Round two involves team members to assess cultural fit and collaboration style. Finally, the department head or CFO evaluates strategic alignment.

Explore problem-solving ability by presenting real scenarios. Ask how they handle deadlines and pressure. Discuss their experience working with cross-functional teams. Each round typically takes one to two weeks to schedule and complete. Strong candidates often have multiple opportunities, so delays can cost you top talent.

9. Check References and Background

Contact at least two to three professional references. Ask about technical skills, reliability, and teamwork. Probe for any concerns about re-hiring the candidate.

Verify education credentials and employment history. Conduct criminal background checks if applicable. Credit checks may be appropriate for roles handling financial transactions. This process adds another one to two weeks to your timeline.

9. Make the Offer to Your Staff Accountant Candidate

Craft a competitive offer that leads with total compensation, not just base salary. Include benefits, growth opportunities, and flexibility. Specify the start date, reporting structure, and key expectations.

Be prepared to negotiate. Move quickly because the best candidates receive multiple offers. Even accepted offers can fall through if candidates receive counteroffers from their current employers.

10. Onboard Your New Staff Accountant

During the first week, prioritize IT setup and system access. Introduce them to the team and key stakeholders. Review accounting processes and procedures. Assign a mentor or buddy to help them acclimate.

Over the first 30 to 90 days, gradually increase their responsibilities. Schedule regular check-ins and provide feedback. Train them on company-specific processes and systems. Eventually, integrate them into the month-end close process.

The Reality Check on Staff Accountant Hiring Timelines

Here’s the timeline you’re looking at. Job posting to first interviews takes two to three weeks. Interview rounds require three to four weeks. Reference checks and making an offer add one to two weeks. Then the candidate’s notice period at their current job takes two to four weeks.

Total timeline: eight to 13 weeks from start to finish. That’s two to three months before your new hire starts working.

Common Challenges When Hiring a Staff Accountant

The numbers tell a sobering story. According to recent industry data, 93% of finance leaders report difficulty finding qualified professionals. This talent shortage has real consequences when you’re trying to hire a staff accountant.

The Competition for Staff Accountants Is Fierce

A wave of CPA retirements is creating an experience gap. Fewer accounting graduates are entering the profession each year. As a result, you’re competing with dozens of other companies for the same small pool of candidates.

Time and Resource Drain in Staff Accountant Recruitment

Your existing finance team is already overburdened. HR may not understand technical accounting requirements well enough to screen effectively. Someone needs to manage this hiring process while keeping up with daily work. Unfortunately, month-end close doesn’t wait for you to finish hiring.

The Cost of a Bad Staff Accountant Hire

Bad hires are expensive. They can cost 30% of first-year salary to replace, not to mention lost productivity during the search and ramp-up periods. Team morale suffers when a new hire doesn’t work out. Then you’re stuck repeating the entire eight to 13 week process.