Is Outsourcing the only answer to the Accountant Shortage - Baraboo-based MBE CPAs champions an alternative solution in partnership with Miles Talent Hub
BARABOO, Wis., June 11, 2024 /PRNewswire/ -- Amidst a nationwide shortage of accountants, MBE CPAs, a prominent CPA firm based in Baraboo, Wisconsin, has embraced a novel approach to recruitment by partnering with Miles Talent Hub. This collaboration is designed to tap into a pool of international talent who have graduated from top U.S. universities with STEM-designated accounting degrees, making them eligible to work in the U.S. for up to 3 years under the extended Optional Practical Training (OPT) program.
The U.S. Bureau of Labor Statistics underscores the urgency of this shortage, projecting a need for 126,500 accountants annually. Current graduation rates fall short, with fewer than 75,000 accounting students graduating each year. Onshoring is a forward thinking alternative to traditional solutions such as outsourcing abroad, as the candidates are in your local CPA office.
MBE CPAs has proactively recruited 10 accountants from the international talent pool facilitated by Miles Talent Hub, assigning them to critical audit and tax roles. "The accountant shortage is a real concern for CPA firms everywhere," said Tim Moy, Managing Partner at MBE CPAs. "We are at the beginning of a long-term answer to enhance work/life balance to those in the accounting industry. In addition, those served by the accounting industry will see an increase in customer service. We are excited about working with Miles, who assists us in finding experienced accountants for our offices across Wisconsin, Nebraska and Arizona, to work locally in our offices."
Varun Jain, CEO of Miles Talent Hub, emphasized the transformative impact of integrating STEM into accounting education: "Incorporating STEM into accounting curricula was a strategic move to rejuvenate the talent pipeline. The Miles STEM Pathway doesn't just fill university seats—it significantly mitigates the talent shortages faced by public accounting firms, demonstrating a sustainable model for industry growth."
This initiative represents a significant shift towards sustainable and innovative recruitment strategies within the accounting industry. By adopting this model, MBE CPAs not only addresses its immediate staffing needs but also sets a precedent for other firms across the U.S., showcasing that strategic partnerships can effectively resolve pervasive industry challenges.
About MBE CPAs:
MBE CPAs is a leading accounting firm based in Baraboo, WI, offering a wide range of accounting, tax, and advisory services. With offices across Wisconsin, Nebraska and Arizona, MBE CPAs is dedicated to delivering exceptional service and innovative solutions to meet the needs of their clients.
For more information, please visit www.mbe.cpa.
About Miles Talent Hub:
Miles Talent Hub, a division of Miles Education, is at the forefront of addressing the critical shortage of accountants in the United States with its innovative educational solutions. Offering a compelling alternative to the outsourcing of accounting jobs outside of the U.S., the Hub has launched the Miles STEM Pathway. This initiative champions the transformation of Master's in Accounting at top U.S. universities into STEM-designated programs, enabling international graduates to work in the U.S. for up to 3 years under the OPT program. Additionally, the Miles CPA Pathway, developed in partnership with Franklin University, offers an affordable solution for U.S. accounting undergraduates to meet the 150-credit requirement for CPA licensure.
For more information, please visit www.milestalenthub.com.
Photo: https://mma.prnewswire.com/media/2435724/MBE_CPA_Mile.jpg
SOURCE Miles Talent Hub
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