Today’s tax departments face constant change—from evolving federal and provincial/state regulations to increasingly complex cross-border compliance. Add rapid advances in data analytics and a surging demand for top talent, and it’s clear that a “hire as needed” mentality no longer suffices. Forward-thinking tax teams in both Canada and the United States now rely on proactive strategies that anticipate and address future hiring needs. Here’s why you should consider doing the same.
The Talent Landscape: A Fierce Competition
Specialised Skills Gap
Areas like global transfer pricing, state and local tax (SALT), mergers and acquisitions, digital taxation, and advanced analytics require deep expertise. With experienced professionals in short supply, these sought-after specialists are heavily recruited, which drives up salaries and benefits.
Demographic Shifts & Retirements
Seasoned tax experts are retiring, taking with them vital institutional knowledge. Both CPA Canada and the AICPA warn of an impending “brain drain,” urging firms to focus on mentoring junior staff and planning ahead to avoid critical skill gaps.
Soaring Demand for Tax Data Analytics
Modern tax work increasingly depends on data-driven insights. Recruiters look for candidates able to harness tools such as Alteryx, Power BI, SAP, and robotic process automation (RPA). Those who bridge finance, data, and software skills can command premium compensation.
Compensation Pressures
As the scramble for qualified tax professionals intensifies, total compensation packages climb. Without planning ahead, your organisation may struggle to stay competitive in the job market and risk losing top tax professionals.
The Downside of Reactive Recruitment
Cost of Vacancies
When tax positions remain open for too long, your team faces mounting workloads, increased stress, and potential mistakes—particularly during tight filing deadlines. Missed deadlines, penalties, and reputational damage can overshadow any short-term budget savings.
Lack of Future-Ready Planning
Filling vacancies only when they appear leaves little room to consider emerging needs like software upgrades, market expansions, or changing regulations. When you’re constantly in catch-up mode, you miss chances to develop internal talent and foster a culture of continuous improvement.
Key Benefits of a Proactive Strategy
Enhanced Employer Brand
Top professionals gravitate to workplaces that value learning and career development. By engaging in proactive hiring, you send a clear message that you’re invested in long-term growth, positioning your organisation as a place where people want to build their careers.
Robust Talent Pipeline
Forecasting your hiring needs allows you to engage potential candidates over time through industry events, conferences, and networking. This forward-thinking approach not only speeds up recruitment when a role opens but also helps with succession planning by nurturing internal talent.
Long-Term Cost Savings
Though building a proactive strategy requires initial effort, it saves both money and resources over time. You’ll experience fewer costly vacancies, lower turnover, and better cultural alignment among team members, ultimately reducing risk and improving accuracy in tax compliance.
How Foxwood Tax Search Supports Your Proactive Approach
At Foxwood Tax Search, we recognise that tax leaders already juggle extensive compliance demands and strategic planning. Our two-pronged model—Specialist Tax Recruitment and Strategic Workforce Planning—helps you stay ahead in a dynamic marketplace.
Specialist Tax Recruitment
- Broad North American Ecosystem: We connect you with professionals in both Canada and the United States, from manager-level to executive-level experts.
- Tailored Search Process: By understanding your specific culture, skill requirements, and objectives, we source candidates that fit both technically and personally.
- Swift Placement & Onboarding: Our extensive ecosystem of tax professionals means faster matches, reducing your vacancy periods. We also support smooth onboarding to help retain new hires.
Strategic Workforce Planning
- Collaborative Department Review: We assess your current structure, identify gaps, and anticipate future needs or expansions.
- Proactive Talent Roadmap: Together, we create a multi-year hiring and development plan based on your forecasting, that addresses skill gaps before they become urgent.
- Ongoing Development & Retention: Beyond recruitment, we can guide tax executives in cultivating an environment that supports learning, innovation, and long-term retention.
Through this combined approach, Foxwood eases the burden of hiring and planning, freeing you to focus on high-impact tax strategies. Our support extends across the full talent lifecycle—recruitment, and guidance around development and retention—ensuring your tax department remains agile in an ever-evolving industry.
Conclusion
A proactive recruitment strategy is no longer optional. By anticipating your department’s needs, nurturing relationships with potential hires, and investing in the growth of your current team, you transform your tax function from a reactive support role into a forward-looking strategic partner. From specialised tax recruitment to comprehensive workforce planning, Foxwood Tax Search helps tax leaders in Canada and the United States tackle tomorrow’s challenges today.
If you’re ready to build a resilient, future-ready tax team—one capable of adapting to shifting regulations and emerging technologies—let’s chat about how a proactive approach can secure your competitive edge. Reach out to Foxwood Tax Search and discover how we can support your journey toward a more strategic, confident tax function.