Everybody is so distracted by the threat of automation and artificial intelligence that it seems no one is paying attention to the looming global talent shortage.
shows that companies around the world will have to pay big bucks 💰💰💰 to hire and retain skilled workers (such as those with a CPA license) over the next decade.
By 2030, the average wage premium for skilled workers in the U.S. is expected to reach $8,300 (a wage premium is the extra amount employers can expect to pay above normal inflation).
Not too bad, but if you have a lot CPAs on staff, that could get pricey, especially since that’s the average wage premium for all skilled workers. It’s easy to imagine that accounting and finance professionals will command an even higher premium.
I definitely wouldn’t want to be an accounting firm partner in Australia … Employers there will be paying at least an extra $28,600 per head!
It’s clear that the key to surviving the talent crunch will be empowering skilled workers with automation, not replacing them.