Tennessee’s accounting crunch: What it means for growth-focused firms

In fast-growing regions like Chattanooga, demand for skilled accounting and finance professionals is outpacing supply. From real estate companies managing complex portfolios to small businesses closing out their books, the business community is feeling the pressure of a deepening talent shortage.

The crunch is especially pronounced in mission-critical areas such as financial planning and analysis, technical accounting, tax and business analytics. It’s more than simply a hiring challenge, it also poses risks to compliance, reporting accuracy and long-term strategy.

According to Robert Half research, 93% of finance and accounting leaders say it’s difficult to find the talent they need. In fact, it now takes an average of seven weeks to fill an open position.

With fewer professionals entering the field, a wave of retirements underway, and many accountants leaving public roles in search of better work-life balance, 62% of leaders say hiring and retaining accounting talent is a moderate to severe challenge today.

As skills gaps grow, many firms are turning to flexible staffing models. Contract professionals, who often possess specialized, hard-to-find skills that teams urgently need, can support initiatives like AI implementation, data strategies, and year-end reporting. Many employers engage contract talent to fill gaps on their teams and ease workloads for current staff while searching for the permanent hires needed to strengthen budgeting, forecasting, and compliance functions.

Across the state, organizations are also upskilling their existing teams to close skill gaps and improve efficiency. Combining experienced professionals with the right digital tools can help organizations stay compliant and maintain momentum on high priority initiatives.

Hiring plans remain strong. In a Robert Half survey, more than half of finance and accounting leaders said they’re hiring for new permanent positions in the second half of 2025. Demand is highest for roles such as financial analysts, controllers, bookkeepers, and property accountants.

For growth-focused companies, navigating the accountant shortage will require proactive planning and a willingness to embrace flexible staffing strategies. Whether through contract professionals, new hires, internal development, or all of the above, building a resilient finance team is essential to both overcoming today’s challenges and meeting tomorrow’s opportunities.

Bethany Chaffin is a Chattanooga native with more than 16 years of staffing experience in the greater Chattanooga and North Georgia hiring market. She is the Robert Half practice director for the accounting and finance contract team, focusing on both consulting and contract talent solutions.