How to Hire Outside the USA in your Accounting Firm

Read Time: 5:09minutes

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The labor shortage is in full effect in the accounting industry. And it will be for the foreseeable future due to declining birth rates and fewer students wanting to be accountants.

So what is the fix? For my firm, it was hiring outside the US. I know this can be a sensitive topic. I have tried persuading two accounting firms I have worked for to do the same with no luck.

Most people get stuck on taking jobs away from US citizens and security risks, which are valid points. Here are a few of my thoughts on why hiring outside the US makes sense:

• Unemployment is at a near all-time low in the US.

• Most US workers don't want to do entry-level accounting work.

• Elevation of US-based staff. My part-time US contractor, who was performing all the work, is now reviewing all the work.

• Spending money in a developing country makes the world a better place. More money in these countries leads to better education and health, which leads to less war and pandemics. This is one of the core philosophies of the Gates Foundation.

• Security going through an agency is likely better than what you have at your firm.

Now on to how I hired my first contractor outside of the US.

I decided to hire a contractor directly mainly because of speed. But the cost was also a factor. Using an agency is around 1.5 - 2 times the costs of going direct.

However, I recommend you use an agency if you have concerns about security and compliance. I recommend people look at two agencies. Both are owned by colleagues I hold in high regard and that have their own accounting firms.

1. Guided Outsourcing

2. Cadencia

Before I went outside the US, I had my processes documented. In my experience, most people outside the US are very process-oriented and need clear direction. My go-to for documenting processes is using Loom videos. Once I documented my process, I had my US contractor use them to perform the work I gave her, and she updated the processes as needed.

Next, I created a job ad that sold my firm first before ever talking about qualifications. I got this idea from Ryan Lazanis's Future Firm Accelerate, which I highly recommend you check out.

Then I posted the job on this Filipino job board recommended by two colleagues. I had 100 applicants when I shut down the job posting. On my next hire, I will use the search function to reach out first directly.

I narrowed the 100 to 30 based on resumes and profiles. I then sent the 30 people five questions to answer within 48 hours. These questions were designed to evaluate how they write in English and to figure out some essential information about their work environment. I also gave them the next steps in the process, which were:

• Answer/upload the five questions below within 48 hours.

• One-way video interview to answer an additional five questions.

• One-on-one Zoom interview with myself.

• A paid trial day. We paid $100 to spend a day working with us. This helped us determine whether we were a fit for each other.

These five written questions narrowed the field down to eleven. The next step was a video introduction from myself and another five questions I had the candidates answer via Loom. These questions were more in-depth. The questions helped me evaluate their spoken English, how they fit my core values, and how they used technology.

The one-way Loom interviews narrowed my list down to six. I did one-on-one interviews with each one. The questions were centered around my firm's core values. I used The Ideal Team Player by Patrick Lencioni to form these questions.

These one-on-one interviews lead to three trial days. I paid each candidate $100 to perform tasks like they would do weekly for me. This was to give us both an understanding of how we worked together. My #1 candidate going into the process became my #3, and I hired what I initially thought was my #2 candidate as an independent contractor for $1k per month.

I am also creating a course with step-by-step instructions on my process and templates to R&D. Click here to check it out.

🙏 Thanks, Marcus Mire, for sharing The CAS Cache.

Guru Cache 👂📚👀

👀 Jason Staat’s version of a trial day.

📚 Ryan Lazanis’s #1 Tip for Job Descriptions

Client Cache 🗣

📈📚This was recommended to me by Verne Harnish. Read Harvard Business Review’s take on the Goldilocks pricing by clicking here.

Thanks for reading, Luke Templin!

P.S. There are 3 ways I can help you grow your CAS offerings when you are ready:

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3. Book a 1-hour CAS consulting call