Buyer Beware - Outsourcing Update - October 2020
The coronavirus pandemic has given the Big4 a convenient pretext to promote their managed services outsourcing model as a novel, client-driven solution. All the rage in the late 80s and early 90s, it’s pretty telling that none of the large, complex companies that initially entered into those arrangements are still doing so today.
The Hidden Challenges of Remote Work for Tax Departments - Managing Talent at a Distance
In recent months, remote work has become the norm. As we move forward into the “new normal,” we are beginning to see a number of emerging implications for the tax industry. While there are upsides to working from home, we believe tax departments will soon encounter complications in two key areas.
Paying For The Stimulus – In More Ways Than One
They say no good deed goes unpunished… While stimulus packages were absolutely a good deed, it is time to pay the piper and it appears the tax industry is the one being charged. The debt incurred post COVID-19 became insurmountable as unemployment rates reached record breaking numbers. Government agencies have been forced to stimulate the economy at unprecedented levels and tax must now deal with two major ramifications. There is however a silver lining.
4 Successful Succession Planning Moves
With COVID19 retirements accelerating across tax departments, we are seeing more clients successfully utilize succession planning tactics in their hiring practices. In the current economic climate, now is the time for hiring authorities to make potential new hires aware of these succession planning moves to ensure alignment among both parties. Read about 4 methods Tyler Simpson has noticed in several of his recent searches.
The Gig Is Up
The vast array of talent available, combined with the unique flexibility the Talent Economy can offer, fundamentally optimizes tax department’s consulting budgets in ways that were inconceivable before. Learn more about how the tax profession is transitioning from the gig to the Talent Economy in Tony Santiago's latest article, The Gig Is Up.
Stereotypes Of Working For Non-U.S. Owned Companies In The United States
Understandably, working for a non-U.S. owned company in the United States is very different than working for a U.S. owned company. Having experience with these types of companies, we have observed various negative and positive stereotypes they face when trying to attract top talent in the U.S. Read Stephanie Gilmartin’s latest article to find out what they are.
Managing Supply and Demand Tensions in Tax
The data in our proprietary database indicates slightly over 50% of our industry knowledge walking out the door over the next seven years, with a majority exiting in the next three years.
Top 5 Fundamental Questions to Ask When Interviewing With a Foreign-Owned Company
With an evolving tax world, we are seeing many candidates considering employment with foreign-owned entities. Stephanie’s latest article offers 5 questions candidates should keep in mind when interviewing with those types of companies.
2020 Hiring Outlook - The Impact of COVID-19
With one hiring window already in the rear-view, Adam Golden stresses in his latest article that tax Hiring Authorities need to assess their hiring plans for the remainder of the year NOW. A wild flurry of activity could be hitting the tax hiring market all at once, and the early birds will get the worms.
DAC 6 is Coming – Will It Cause A Chilling Effect On The Use Of Outside Advisors?
Tax departments are being asked to do more work with fewer resources and I fear preparation for DAC 6 is not at the top of tax department's priority lists. July 1st is rapidly approaching and you must make time to create a strategy surrounding DAC 6 NOW.