Alexander Declerck: “The market won’t solve the shortage of finance talent on its own”

The structural shortage of finance talent is hardly new, but it has reached a critical inflection point. The 2025 ITAA Barometer, the annual benchmark study by the Institute for Tax Advisors and Accountants (ITAA),shows that more than seven in ten accounting firms currently have open vacancies, with nearly half unable to find suitable candidates.

The ITAA is not alone in this assessment. Recent research by AdminPulse and Teamleader, two technology providers specializing in accounting software and SME tools, surveyed 167 Belgian accounting firms. The findings are telling: 56% of firms have implemented a client intake freeze, not due to a lack of growth ambition, but because they simply cannot secure the necessary talent. More than 80% report difficulty attracting qualified profiles.
The challenges observed in accounting firms are, in many ways, just the tip of the iceberg. Internal finance teams and external partners are grappling with the same constrained talent market. For CFOs, the impact is therefore twofold: both internal finance teams and external staffing partners are under sustained pressure from an increasingly tight labor market.

Labor market data further underscores the severity: in January 2026 alone, 391 accounting vacancies remained open, contributing to a total of 2,782 vacancies over the year, set against just 1,063 active job seekers. Unsurprisingly, “accountant” continues to rank among the top ten shortage occupations in Flanders.

ITAA President Bart Van Coile is unequivocal: the talent shortage in finance is structural, not a temporary spike. “We’re facing a dual constraint,” he explains. “Quantitatively, there simply aren’t enough candidates to fill open roles. Qualitatively, the skill sets often fall short. The bar has been raised. Finance professionals today must go beyond understanding the numbers. They need to advise, communicate, and actively contribute to process and technology decisions.

That shift reflects a broader increase in complexity. “It’s not just about more regulation,” Van Coile adds. “It’s about the convergence of technology, ESG requirements, and digital transformation. The traditional accountant profile no longer suffices. We need broader, hybrid talen: professionals who combine tax and financial expertise with digital fluency and strong communication skills.”

Alexander Declerck of TriFinance sees the same pattern across the market. Leading a team of consultants supporting organizations in Finance & Controlling, augmented by 'do-how' expertise in Data & Analytics, Business Integration, Risk, and Transformation. Alexander works closely with CFOs and CHROs on talent strategy, organizational design, digital enablement and internal mobility.

“Demand for high-quality finance talent consistently outpaces supply,” he notes. “It’s time to move beyond the assumption that market forces will correct the imbalance. Companies need to take ownership: invest in talent, rethink how teams are structured, and leverage technology in a more deliberate, value-driven way.”

The acute shortage of finance talent cannot be explained by macroeconomic conditions or a temporary labor market mismatch alone. Beneath the surface, deeper structural shifts are rapidly reshaping the profession.

One of the primary drivers is demographic. “We’re seeing a clear outflow of experienced professionals,” says Bart Van Coile. “The generation now retiring is taking a significant amount of institutional knowledge with it. At the same time, the talent pipeline is too narrow and even if older professionals remain active longer, that only provides a short-term buffer.”

The Finance profession has become both more technical and more strategic

Driven by developments such as mandatory e-invoicing via Peppol, the rise of AI-enabled tools, cloud-based systems, digital audits, and increasingly stringent compliance requirements, Finance is undergoing a profound digital transformation. “This is not just about needing more people,” notes Alexander Declerck. “We need different people.”

He points to a clear inflection point among CFOs. “Organizations are no longer looking for professionals to execute transactional accounting tasks. They need talent that understands end-to-end processes, contributes to reporting frameworks, engages effectively with business stakeholders, and delivers data-driven insights. That’s a fundamentally different profile than what was required a decade ago.”

This shift in expectations creates an additional layer of complexity: even when companies succeed in attracting candidates, the fit is not always there. “There is plenty of movement in the market,” Declerck adds, “but what’s scarce is the combination of analytical judgment, leadership capability, and adaptability. That mix is difficult to find and even harder to scale.”

A third driver lies in the shifting expectations of younger talent. Financial security and a permanent contract are no longer sufficient to position a company as an employer of choice. Today’s professionals prioritize purpose, autonomy, and opportunities for growth. “These are not empty buzzwords,” says Alexander Declerck. “They want room to learn, ownership over their trajectory, and a clear line of sight to impact. If you don’t offer that, you lose them.”

While this trend is visible across the broader labor market, it is particularly relevant for finance roles. The challenge is compounded by a persistent perception problem: although the function itself has evolved significantly, its image among younger generations often lags behind, still anchored in outdated stereotypes.

Efforts to reposition the profession are gaining traction. Initiatives such as Accountants of Tomorrow, launched by a group of Flemish accounting firms, aim to reframe the narrative—highlighting that a career in finance today is not about routine in a traditional office setting, but about impact, innovation, and relevance.

The Institute for Tax Advisors and Accountants has taken a similarly bold approach with its youth-focused campaign “Skip that Sht.”* Featuring a technotrack by DJ Amber Broos, collaborations with TikTok creators, and targeted campaigns across Meta and TikTok, the initiative speaks directly to the 18–24 demographic. Its message is clear: modern accountancy is strategic, digital, and dynamic—well aligned with the ambitions of a generation seeking to make a tangible difference.

The early results are encouraging. Vacancy fill rates are improving—where nine out of ten firms struggled to fill roles in 2024, that figure dropped to seven out of ten in 2025. At the same time, enrollment in accountancy and tax programs in higher education has reached record levels. While it will take time for this new pipeline to translate into workforce capacity—and natural attrition remains significant—the direction of travel is positive.

The structural drivers are clear: role requirements have shifted, candidate expectations have evolved, and the talent pipeline remains constrained for now. The question facing CFOs and CHROs is straightforward: what strategic choices will actually move the needle on attracting and retaining Finance talent?

For Alexander Declerck, one priority stands out. Investment in learning is no longer optional, it is mission-critical. In a rapidly evolving environment, continuous development is the only sustainable strategy. “Give people ownership and impact,” he says. “Don’t design careers, design learning journeys. Talent is looking for momentum, not distant promises. They want to feel they are growing now.”

The fabric of team design

That learning mindset must be embedded into the very fabric of team design. Mentoring, job rotation, blended learning pathways, and internal mobility should not be side initiatives, but core structural elements. The objective is not only career development, but adaptability: building teams that can evolve as fast as the function itself.

Bart Van Coile reinforces the point: organizations waiting for fully formed, market-ready profiles will be waiting indefinitely. “We will have to train, coach, and grow our own talent,” he notes. “It requires time and commitment, but it’s the only viable way to close the gap between what the market offers and what organizations truly need.”

A second strategic lever lies in how the Finance function itself is organized. Rather than relying on a single, centralized department, a growing number of companies are moving toward hybrid operating models. 

“In practice, we see clear value in combining centralized expertise with decentralized business partnering,” says Alexander Declerck. “You build a core team that operates close to the business, complemented by finance professionals with deep technical and specialist knowledge. That mix increases both agility and employer appeal.”

This shift reflects a broader move away from one-size-fits-all structures toward more modular, responsive designs. Hybrid models allow organizations to deploy scarce talent where it adds the most valuenwhile also creating more dynamic and attractive career paths.

Flexible resourcing models are gaining traction as well. “Flying teams” and shared service solutions are increasingly used to absorb workload peaks and manage recurring processes more efficiently. 

Technology is a critical enabler but not a silver bullet. “AI and automation can accelerate processes and free up capacity for more strategic work,” Declerck notes. “But without redesigned structures and clearly defined roles, those tools won’t deliver their full potential.”

Sector-wide campaigns such as "Accountants of Tomorrow"and “Skip that Sht”* are helping to reshape the image of Finance, but companies looking to attract new talent cannot rely on industry initiatives alone. They need to define and communicate their own value proposition.

“The sector has a role to play, but how individual organizations position themselves is at least as important,” says Alexander Declerck. “Especially in Finance roles: articulate your impact. As a CFO, explain how your function contributes to broader societal themes such as sustainability, digital transformation, ethics.”

Employer branding is a critical, and often underutilized, lever. “CFOs should be far more visible,” Declerck argues. “Put them front and center. Engage with universities, share insights on social platforms, and actively tell the story of what Finance really does today. It’s about far more than moving numbers.”

Purpose and development opportunities rank high on the priority list for emerging talent. But so does workability. Research from AdminPulse and Teamleader shows that non-digital workflows are increasingly being rejected by accounting firms, as they disproportionately drive up workload. 

“Organizations that invest in digital processes don’t just gain efficiency,” Declerck concludes. “They create breathing room and that directly enhances their attractiveness as an employer.”